CALGARY , March 14, 2014 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its March 2014 monthly distribution in the amount of $0.1317 per trust unit, payable on April 15, 2014 to holders of trust units of record at March 31, 2014 .
As at the date hereof, there are 31,900,380 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: multi-family segment apartments, town homes and single family rental units; and execusuites and hotels, where the rental periods range 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 . As at December 31, 2013 , NPR has 10,310 residential units and 1,067,203 square feet of commercial space.
SOURCE Northern Property Real Estate Investment Trust
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Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-0720.