/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/
TORONTO, Dec. 16, 2013 /CNW/ - True North Apartment Real Estate
Investment Trust (TSX: TN.UN) (the "REIT") today announced a cash distribution of $0.05825 per trust unit ("Unit") for the period from December 1, 2013 and ending December 31, 2013.
The distribution will be payable on January 15, 2014 to unitholders of
record as at December 31, 2013.
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 or the REIT's website, www.truenorthreit.com.
SOURCE: True North Apartment Real Estate Investment Trust
For further information:
Chief Executive Officer
Chief Financial Officer