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TORONTO, July 18, 2013 /CNW/ - Inovalis Real Estate Investment Trust (the "REIT") (TSX: INO.UN) announced today that its Board of Trustees has declared the REIT's monthly cash distribution of CDN$0.06875 per unit for the period from July 1, 2013 to July 31, 2013. The distribution will be payable on August 15, 2013 to unitholders of record as of the close of business on July 31, 2013. Distributions paid to unitholders who are non-residents of Canada will be subject to applicable Canadian withholding tax.
The REIT also announced today that the REIT has implemented a distribution reinvestment plan (the "DRIP") that takes effect following the above-noted distribution for those unitholders who enroll in the DRIP. Participants in the DRIP will have their cash distributions used to purchase units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution. Unitholders wishing to participate should contact their investment advisors to enroll in the DRIP.
About Inovalis Real Estate Investment Trust
Inovalis Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT has been created for the purpose of acquiring and owning office properties primarily located in France and Germany but also opportunistically in other European countries where assets meet the REIT's investment criteria. The REIT currently owns an interest in four office properties in France and Germany, comprising 528,267 square feet (49,170 square metres) of gross leasable area.
SOURCE: Inovalis Real Estate Investment Trust
For further information:
David Giraud, Chief Executive Officer
Inovalis Real Estate Investment Trust
Tel: +33 (0) 1 5643 3323
Fax: +33 (0) 1 5643 3324