/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
WINNIPEG, MB, Aug. 15,
2024 /CNW/ - Marwest Apartment Real Estate Investment
Trust ("Marwest Apartment REIT" or the "REIT") (TSXV:
MAR.UN) announced that its Trustees have declared a monthly cash
distribution of $0.0013 per trust
unit ("Trust Unit") of the REIT for the month of August 2024, representing a cash distribution per
Trust Unit of $0.0156 on an
annualized basis. The cash distributions will be made on
September 16, 2024 to Unitholders on
record as of August 31, 2024.
As at the date hereof, there are an aggregate of 8,856,403
Units, and 10,642,435 Exchangeable Units issued and
outstanding.
About Marwest Apartment REIT
The REIT is an unincorporated open-ended trust governed by the
laws of the Province of Manitoba.
The REIT was formed to provide Unitholders with the opportunity to
invest in the Canadian multi-family rental sector through the
ownership of high-quality income-producing properties, with an
initial focus on stable markets throughout Western Canada.
Marwest REIT's management team and Trustees have over 100 years
of combined experience in multi-residential real estate. They bring
a strong combination of development, construction, management, and
financing experience, along with significant governance expertise.
The REIT has an external asset and property management agreement
through the Marwest Group of Companies. The Marwest Group of
Companies is a fully integrated real estate group that specializes
in development, construction, and property management. Now in its
third generation of operations, the Marwest Group has developed
over 12,000 units, and currently manages over 2,500 units,
providing the REIT with an array of top calibre tools, industry
know-how and strong relationships. Marwest Apartment REIT will
continue to benefit from the expertise and strong infrastructure
that is currently in place through the Marwest Group.
Forward-looking Statements
The information in this news release includes certain
information and statements about the REIT's current monthly cash
distribution policy that constitute forward‐looking statements.
These statements are based upon assumptions that are subject to
significant risks and uncertainties. Because of these risks
and uncertainties and as a result of a variety of factors, the
actual results, expectations, achievements or performance may
differ materially from those anticipated and indicated by these
forward‐looking statements. A number of factors could cause actual
results to differ materially from these forward‐looking
statements. The declaration and/or payment of future cash
distributions will be dependent upon a number of factors, including
but not limited to the financial performance, financial condition
and financial requirements of the REIT. Although management
of the REIT believes that the expectations reflected in forward‐
looking statements are reasonable, it can give no assurances that
the expectations of any forward‐ looking statements will prove to
be correct. Except as required by law, the REIT disclaims any
intention and assumes no obligation to update or revise any
forward‐looking statements to reflect actual results, whether as a
result of new information, future events, changes in assumptions,
changes in factors affecting such forward‐looking statements or
otherwise.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
The Trust Units are not registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") and
may not be offered or sold within the
United States or to or for the account or benefit of U.S.
persons, except in certain transactions exempt from the
registration requirements of the U.S. Securities Act. This press
release does not constitute an offer to sell, or the solicitation
of an offer to buy, securities of the REIT in the United States or in any other
jurisdiction.
SOURCE Marwest Apartment Real Estate Investment Trust