CALGARY , Aug. 15, 2014 /CNW/ - Northern Property Real Estate Investment Trust (NPR.UN - TSX) announced its August 2014 monthly distribution in the amount of $0.1317 per trust unit, payable on September 15, 2014 to holders of trust units of record at August 29, 2014 .
As at the date hereof, there are 31,790,580 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
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Mr. Robert J. Palmer, Chief Financial Officer, (403) 531-3545.