CALGARY, Oct. 16, 2013 /CNW/ - Northern Property Real Estate Investment
Trust (NPR.UN - TSX) announced its October 2013 monthly distribution in
the amount of $0.1317 per unit, payable on November 15, 2013 to
unitholders of record at October 31, 2013.
As at the date hereof, there are 31,929,470 Trust Units (NPR.UN) issued
and outstanding and 67,796 NPR Limited Partnership Class B units issued
NPR is primarily a multi-family residential real estate investor,
providing a broad spectrum of rental accommodations in Canadian
secondary markets with strong economic fundamentals where
capitalization rates are somewhat higher and competition somewhat
restrained. NPR's residential portfolio is comprised of a multi-family
segment: apartments, town homes and single family rental units; and
execusuites and hotels, where the rental periods range from a few days
to several months. NPR also has a portfolio of commercial buildings
focused on government tenancies predominantly located in Canada's far
north. Geographically, NPR operates in British Columbia, the Northwest
Territories, Alberta, Saskatchewan, Nunavut, Québec and Newfoundland
and Labrador. As at June 30, 2013 NPR has 9,798 residential units and
1,104,964 square feet of commercial space.
SOURCE: Northern Property Real Estate Investment Trust
For further information:
Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-0720.