CALGARY, March 15, 2012 /CNW/ - Northern Property Real Estate Investment Trust ("NPREIT") (NPR.UN - TSX) announced its March 2012 monthly distribution in the amount of $0.1275 per unit, payable on April 16, 2012 to unitholders of record at March 30, 2012.
As at the date hereof, there are 29,460,061 Trust Units (NPR.UN) issued and outstanding and 67,796 Class B exchangeable limited partnership units issued and outstanding.
Pursuant to an underwriting agreement dated March 6, 2012, NPREIT has agreed to issue 2,000,000 additional Trust Units in a prospectus offering. Closing of this offering is expected to occur on or about March 23, 2012. The March 2012 monthly distribution will be payable on Trust Units issued in this offering. NPREIT has also granted its underwriters an over-allotment option to purchase up to 300,000 additional Trust Units within 30 days of closing of the prospectus offering.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements relating to our distributions and the closing of the proposed offering of Trust Units. These statements are not future guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made.
For further information:
Mr. David Leiman, Chief Financial Officer