CALGARY, Dec. 6, 2012 /CNW/ - Northern Property Real Estate Investment Trust ("NPREIT") (NPR.UN - TSX) announced a special distribution in the amount of $0.56 per unit, payable on December 28, 2012, to unitholders of record at December 17, 2012.
The sale of NPR's seniors' portfolio has resulted in an increase in taxable income for the 2012 financial year. Payment of the special distribution is made in connection with NPR's Declaration of Trust stipulating that 100% of taxable income in each year be distributed to unitholders.
As at the date hereof, there are 31,948,987 Trust Units (NPR.UN) issued and outstanding and 67,796 Class B exchangeable limited partnership units issued and outstanding.
SOURCE: Northern Property Real Estate Investment Trust
For further information:
Mr. Todd Cook,
Executive Vice President and Chief Financial Officer