/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/
TORONTO, Dec. 17, 2012 /CNW/ - True North Apartment Real Estate
Investment Trust (TSXV: TN.UN) (the "REIT") today announced a cash distribution of $0.0233 per trust unit ("Unit") for the period from December 1, 2012 and ending December 31, 2012.
The distribution will be payable on January 15, 2013 to unitholders of
record as at December 31, 2012.
Unitholders can participate in the REIT's unitholder Distribution
Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly
cash distributions used to purchase additional Units, at a 3% discount
to the weighted average closing price of the Units, for the five
trading days immediately preceding the date of distribution declared by
the REIT. No assurances can be made that new Units will be made
available under the DRIP on a regular basis, or at all. The DRIP
provides an efficient and cost-effective way for the REIT to issue
additional equity to existing unitholders.
About the REIT
The REIT is an unincorporated, open-ended real estate investment trust
established under the laws of the Province of Ontario.
The REIT focuses on a long-term strategy to generate stable cash
distributions on a tax-efficient basis for unitholders. The REIT
intends to actively look for opportunities to expand its asset base and
increase its distributable cash flow through acquisitions of additional
multi-suite residential rental properties across Canada, the United
States and other jurisdictions where opportunities may arise.
Additional information concerning the REIT is available at www.sedar.com.
Certain statements contained in this press release constitute
forward-looking information within the meaning of applicable securities
laws. Forward-looking information may relate to the REIT's future
outlook and anticipated events or results and may include statements
regarding the financial position, business strategy, budgets,
litigation, projected costs, capital expenditures, financial results,
taxes, plans and objectives. Statements regarding future results,
performance, achievements, prospects or opportunities for the REIT or
the real estate industry are forward-looking statements. In some cases,
forward-looking information can be identified by such terms such as
"may", "might", "will", "could", "should", "would", "occur", "expect",
"plan", "anticipate", "believe", "intend", "estimate", "predict",
"potential", "continue", "likely", "schedule", or the negative thereof
or other similar expressions concerning matters that are not historical
facts. Some of the specific forward-looking statements in this press
release include, but are not limited to, statements with respect to the
anticipated future growth of the REIT in 2012 and 2013.
Although the forward-looking statements contained in this press release
are based upon assumptions that management of the REIT believes are
reasonable based on information currently available to management,
there can be no assurance that actual results will be consistent with
these forward-looking statements. Forward-looking statements
necessarily involve known and unknown risks and uncertainties, many of
which are beyond the REIT's control, which may cause actual results to
differ materially from those expressed or implied by such
The forward-looking statements made in this press release relate only to
events or information as of the date hereof. Except as required by
applicable Canadian law, the REIT undertakes no obligation to update or
revise publicly any forward-looking statements, whether as a result of
new information, future events or otherwise, after the date on which
the statements are made or to reflect the occurrence of unanticipated
The TSX Venture Exchange ("TSXV") has neither approved nor disapproved
the contents of this press release.
Neither the TSXV nor its Regulation Services Provider (as that term is
defined in policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE: True North Apartment Real Estate Investment Trust
For further information:
Chief Executive Officer
Chief Financial Officer