InterRent Announces $24 Million Acquisition in Hamilton, Ontario

NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: InterRent Real Estate Investment Trust 
TSX SYMBOL:  IIP.UN 
JULY 24, 2014 
InterRent Announces $24 Million Acquisition in Hamilton, Ontario 
OTTAWA, ONTARIO--(Marketwired - July 24, 2014) -  
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES 
InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent")
announced today that it has completed the purchase of a property ideally
situated in Hamilton's east end for a combined purchase price of
$24,095,500. 
The property is located in the east end of Hamilton, and includes a combination
of garden homes (119 3-bedroom homes) and a high rise apartment building (215
suites). The property is situated in a predominantly residential area,
surrounded by green space, parks and schools. The Go Station as well as the Red
Hill Valley Parkway (which feeds into the Queen Elizabeth Way) are within close
proximity.  
The property is being purchased with a going in capitalization rate of 5.2% and
is immediately accretive to the REIT. The acquisition will be financed through
a conventional first mortgage while the property is being re-positioned. The
acquisition is expected to close on or before July 31, 2014. 
"With our experience in the Hamilton market and the team we have assembled
in this region, we believe that this acquisition is in a good geographical
location and is a strong addition to the REIT's portfolio. We believe that
our repositioning strategy with this property will be able to create value for
our Unitholders," said Mike McGahan, CEO.  
About InterRent 
InterRent REIT is a growth-oriented real estate investment trust engaged in
increasing Unitholder value and creating a growing and sustainable distribution
through the acquisition and ownership of multi-residential properties.  
InterRent's strategy is to expand its portfolio primarily within markets
that have exhibited stable market vacancies, sufficient suites available to
attain the critical mass necessary to implement an efficient portfolio
management structure and, offer opportunities for accretive acquisitions. 
InterRent's primary objective is to use the proven industry experience of
the Trustees, Management and Operational Team to: (i) provide Unitholders with
stable and growing cash distributions from investments in a diversified
portfolio of multi-residential properties; (ii) enhance the value of the assets
and maximize long-term Unit value through the active management of such assets;
and (iii) expand the asset base and increase Distributable Income through
accretive acquisitions.  
Forward Looking Statements 
This news release contains "forward-looking statements" within the
meaning applicable to Canadian securities legislation. Generally, these
forward-looking statements can be identified by the use of forward-looking
terminology such as "plans", "anticipated",
"expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or
"will be taken", "occur" or "be achieved".
InterRent is subject to significant risks and uncertainties which may cause the
actual results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the forward
looking statements contained in this release. A full description of these risk
factors can be found in InterRent's most recently publicly filed
information located at www.sedar.com. InterRent cannot assure investors that
actual results will be consistent with these forward looking statements and
InterRent assumes no obligation to update or revise the forward looking
statements contained in this release to reflect actual events or new
circumstances. 
The TSX has not reviewed and does not accept responsibility for the adequacy or
accuracy of this release. 
-30-
FOR FURTHER INFORMATION PLEASE CONTACT: 
InterRent Real Estate Investment Trust
Mike McGahan
Chief Executive Officer
(613) 569-5699 Ext 244
(613) 569-5698
mmcgahan@interrentreit.com
or
InterRent Real Estate Investment Trust
Curt Millar, CA
Chief Financial Officer
(613) 569-5699 Ext 233
(613) 569-5698
cmillar@interrentreit.com 
INDUSTRY:  Financial Services - Commercial and Investment Banking, Financial
Services - Venture Capital, Real Estate and Construction - Commercial Real
Estate 
SUBJECT:  NWS 
-0-
-0- Jul/24/2014 12:30 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.