CALGARY, Oct. 15, 2014 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its October 2014 monthly distribution in the amount of $0.1317 per trust unit, payable on November 14, 2014 to holders of trust units of record at October 31, 2014.
As at the date hereof, there are 31,763,060 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 a multi-family segment: apartments, town homes and single family rental units; and execusuites and hotel, where the rental period ranges 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. The value of NPR's real estate at June 30, 2014 was $1.5 billion with 10,681 residential units and 1,140,954 square feet of commercial space. NPR is traded on the TSX under the ticker symbol: NPR.UN.
SOURCE: Northern Property Real Estate Investment Trust
For further information: Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-3545