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TORONTO, Sept. 19, 2014 /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 September 1, 2014 to September 30, 2014. The distribution will be payable on October 15, 2014 to unitholders of record as of the close of business on September 30, 2014.
The REIT has implemented a Distribution Reinvestment Plan ("DRIP"). By participating in the DRIP, unitholders have cash distributions from the REIT reinvested in additional units as and when cash distributions are made with a "bonus" distribution of Units equal to 3% of the amount of the cash distribution reinvested pursuant to the DRIP.
Distributions paid to unitholders who are non-residents of Canada will be subject to applicable Canadian withholding tax. For Canadian federal income tax purposes, the REIT gives guidance that 75 percent of the above-mentioned distribution can be considered to be a return of capital and 25 percent of the distribution can be considered to be a distribution of trust income.
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 five office properties in France and Germany, comprising 746,700 square feet (69,370 square metres) of gross leasable area.
SOURCE: Inovalis Real Estate Investment Trust
For further information: Antoine Tronquoy, Chief Financial Officer, Inovalis Real Estate Investment Trust, [email protected], Tel: +1 416 845 1483