CALGARY, May 15, 2014 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its May 2014 monthly distribution in the amount of $0.1317 per trust unit, payable on June 16, 2014 to holders of trust units of record at May 30, 2014.
As at the date hereof, there are 31,812,680 trust units (NPR.UN) issued and outstanding and 67,796 NPR Limited Partnership Class B units issued and outstanding.
NPR is primarily a multi-family residential real estate investor, providing a broad spectrum of rental accommodations in Canadian secondary markets with strong economic fundamentals where capitalization rates are generally higher and competition somewhat restrained. NPR's residential portfolio is comprised of: multi-family segment apartments, town homes and single family rental units; and execusuites and hotels, where the rental periods range from a few days to several months. NPR also has a portfolio of commercial buildings focused on government tenancies predominantly located in Canada's far north. Geographically, NPR operates in British Columbia, the Northwest Territories, Alberta, Saskatchewan, Nunavut, Quebec and Newfoundland and Labrador. As at March 31, 2014, NPR has 10,423 residential units and 1,097,463 square feet of commercial space.
SOURCE: Northern Property Real Estate Investment Trust
For further information:
Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-0720