TORONTO, Feb. 18, 2014 /CNW/ - Return On Innovation Advisors Ltd. ("ROI
Capital"), announced today that a monthly cash distribution of $0.050
per unit will be paid on March 14, 2014 to unitholders of ROI Canadian
Real Estate Fund (TSX: RIR.UN) of record as of February 28, 2014.
In addition, ROI Capital announced today that RIR.UN has entered into a
new forward agreement with a term of at least 30 days due to the
upcoming expiration of its existing forward agreement. On July 11,
2013, the Department of Finance announced a proposal to extend the
transition relief period for character conversion transactions,
announced in the March 2013 federal budget, to December 31, 2014.
RIR.UN intends to enter into one or more forward agreements as outlined
in the extension with a final valuation date of no later than December
It is expected that the scheduled monthly distributions for RIR.UN will
consist primarily of capital gains for taxable unitholders in 2014.
Following the settlement of the final forward contract on or about
December 31, 2014, future scheduled monthly distributions are expected
to consist principally of ordinary income.
About ROI Capital
Established in 2002, ROI Capital is a privately held Canadian investment
firm that specializes in commercial mortgages, loans and private real
estate. With a deep understanding of the fundamentals of the commercial
real estate market, ROI Capital strives for capital preservation while
seeking to deliver returns for investors. This is achieved by primarily
focusing on income-producing properties in large urban markets. Today,
ROI manages approximately $1 billion across 11 funds of which RIR.UN is
listed on the Toronto Stock Exchange.
Certain statements included in this news release constitute
forward-looking statements. The forward-looking statements are not
historical facts but reflect current expectations regarding future
results or events. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or
events to differ materially from current expectations and, accordingly,
readers are cautioned not to place undue reliance on such statements
due to the inherent uncertainty therein. Return On Innovation Advisors
Ltd. undertakes no obligation to update publicly or otherwise revise
any forward looking statement whether as a result of new information,
future events or other such factors which affect this information,
except as required by law. Investment funds are not covered by the
Canada Deposit Insurance Corporation or by any other government deposit
insurer. There is no guarantee that an investment in a Fund will earn
any positive return in the short or long term nor is there any
guarantee that a Fund's investment objectives will be achieved or that
the net asset value per unit will appreciate or be preserved.
SOURCE: ROI Capital
For further information:
Wilfred Vos Bcs, FMA, CIM, CFP, FCSI, DMS, CBV, MBA, CFA
President & Founding Partner