Monthly Cash Distribution Declared by Marwest Apartment REIT
Marwest Apartment REIT Announces Monthly Cash Distribution
Marwest Apartment Real Estate Investment Trust, known as Marwest Apartment REIT, has made an important announcement regarding its financial distributions. The Trustees of the REIT have declared a cash distribution of $0.0013 per unit for the upcoming month, with plans to adjust the annualized distribution to approximately $0.0156 per trust unit. This move reflects the REIT’s commitment to providing value to its unitholders.
Details of the Distribution
This distribution will be effective on October 15, 2024, with funds going to Unitholders recorded as of September 30, 2024. Currently, Marwest has a total of 8,856,403 Units and an additional 10,642,435 Exchangeable Units in circulation. These figures underscore the REIT's robust position in the market.
About Marwest Apartment REIT
Marwest Apartment REIT is structured as an unincorporated open-ended trust governed under the laws of its home province. Its primary goal is to offer opportunities for its Unitholders to invest in the multi-family rental market throughout Canada. The focus is primarily on high-quality, income-generating properties, especially in stable markets across the region.
Experienced Management Team
The REIT's management boasts over a century of combined experience in the realm of multi-residential real estate. Their deep understanding spans various critical areas, including development, construction, management, and finance, which are vital for the effective operation of the REIT. The management has established an external agreement with the Marwest Group of Companies, ensuring operational expertise and support.
Marwest Group of Companies
This group has a longstanding history in real estate, being in operation for three generations. They have successfully developed over 12,000 units and currently manage around 2,500 units. Their experience provides Marwest Apartment REIT with essential resources, industry knowledge, and strong industry relationships, driving continued growth and stability.
Future Outlook
Looking ahead, Marwest Apartment REIT is committed to maintaining its distribution policies while adapting to the market's evolving conditions. The management team remains focused on maximizing the value for its unitholders by ensuring the financial stability of the REIT which is vital for sustaining distributions in the long run.
Frequently Asked Questions
What is the declared cash distribution amount for Marwest Apartment REIT?
The announced cash distribution for Marwest Apartment REIT is $0.0013 per unit for September.
When will the distributions be paid to unitholders?
Distributions will be paid on October 15, 2024, to unitholders on record as of September 30, 2024.
How many Units does Marwest Apartment REIT have issued?
As of now, there are 8,856,403 Units and an additional 10,642,435 Exchangeable Units issued and outstanding.
What is the focus of Marwest Apartment REIT?
The focus of Marwest Apartment REIT is to invest in the Canadian multi-family rental sector, specifically high-quality income-producing properties.
Who manages Marwest Apartment REIT?
The management team has over 100 years of combined experience in multi-residential real estate and operates under an agreement with the Marwest Group of Companies.
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