Marwest Apartment REIT Announces Monthly Cash Distribution
Winnipeg, MB – August 15, 2024 – Marwest Apartment Real Estate Investment Trust (“Marwest Apartment REIT“ or the “REIT“) announced that its Trustees have declared a monthly cash distribution of $0.0013 per trust unit (“Trust Unit“) for the month of August 2024. This represents a cash distribution of $0.0156 on an annualized basis per Trust Unit. The distributions will be made on September 16, 2024, to Unitholders of record as of August 31, 2024.
As of today, there are 8,856,403 Units and 10,642,435 Exchangeable Units issued and outstanding.
About Marwest Apartment REIT
Marwest Apartment REIT is an unincorporated open-ended trust governed by the laws of the Province of Manitoba. The REIT was created to provide Unitholders with the opportunity to invest in the Canadian multi-family rental sector. The REIT focuses on owning high-quality income-producing properties, primarily in stable markets throughout Western Canada.
Marwest REIT boasts a management team and Trustees with over 100 years of combined experience in multi-residential real estate. They offer a strong combination of development, construction, management, and financing experience, along with significant governance expertise.
The REIT benefits from an external asset and property management agreement with the Marwest Group of Companies. The Marwest Group is a fully integrated real estate group specializing in development, construction, and property management. Currently in its third generation of operations, the Marwest Group has developed over 12,000 units and manages over 2,500 units. This provides the REIT with access to top-caliber tools, industry know-how, and strong relationships. Marwest Apartment REIT will continue to leverage the expertise and strong infrastructure of the Marwest Group.
Forward-Looking Statements
The information in this news release includes forward-looking statements regarding the REIT’s current monthly cash distribution policy. These statements are based on assumptions subject to significant risks and uncertainties. Actual results, expectations, achievements, or performance may differ materially from those anticipated due to these risks and uncertainties.
Several factors could cause actual results to differ materially from these forward-looking statements. The declaration and/or payment of future cash distributions will depend on numerous factors, including but not limited to the REIT’s financial performance, financial condition, and financial requirements. While management believes that the expectations reflected in forward-looking statements are reasonable, it cannot guarantee that the expectations of any forward-looking statements will be accurate. The REIT disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results.
