VANCOUVER, Jan. 5, 2017 /CNW/ - REALnorth Opportunities Fund ("REALnorth") announced a cash distribution of $23.430178 per unit (the "Distribution"). The distribution will be paid by February 28, 2017 to unitholders of record as at December 31, 2016.
The actual tax characteristics of the Distribution will be reported to brokers (through CDS Clearing and Depository Services Inc. or "CDS") by February 28, 2017.
REALnorth intends to declare distributions on a periodic basis upon full investment of the net proceeds allocated to the purchase price of properties. REALnorth's unitholders are entitled to a minimum non-compounded annual return of 7% on the net equity then outstanding and a return of capital before any amount is paid to the master general partner on account of its incentive management interest.
About REALnorth Opportunities Fund
REALnorth exclusively focuses on Western Canada's north, a region bolstered by rich resources and large projects, to invest on an opportunistic basis in revenue producing real estate assets and development properties which management believes provide attractive return potential. These properties may include industrial and commercial as well as multi-family and other residential real estate opportunities.
This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects REALnorth's current expectations regarding future events. Forward-looking information is identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would" and similar terms and phrases. In particular, forward-looking statements in this news release include, but are not limited to, statements regarding: the expected timing for the payment of the Distribution and the intention to declare future distributions. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond REALnorth's control, that could cause actual results and events to differ materially from those that are disclosed in, or implied by, such forward-looking information. Such assumptions include, but are not limited to, a reasonably stable North American economy and real property market. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in REALnorth's final prospectus dated December 22, 2014. The forward-looking information contained herein is made as of the date of this news release and, except as expressly required by applicable law, REALnorth assumes no obligation to publicly update or revise such information, whether as a result of new information, future events or otherwise.
SOURCE REALnorth Opportunities Fund
For further information: Stephen J. Evans (Chair), REALnorth Opportunities Fund, Suite 910 - 925 West Georgia Street, Vancouver, BC V6C 3L2, Tel: (604) 681-5959