IIP.UN InterRent Real Estate Investment Trust

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

OTTAWA, ON, Oct. 1, 2024 /CNW/ - InterRent Real Estate Investment Trust (TSX: IIP.UN) ("InterRent" or "the REIT") is pleased to announce that its entire Montreal portfolio has achieved certification under the BOMA BEST Sustainable Buildings certification program. This achievement builds on the successful certification of the REIT's portfolios in Ontario and British Columbia under the Canadian Certified Rental Buildings Program in 2023 and earlier 2024. Under these two programs, 100% of InterRent's multifamily communities have achieved building certification coverage.

"I'm incredibly proud of our team for achieving BOMA Best certification in Montreal, bringing our multifamily building certification to 100%," commented Brad Cutsey, President and CEO of InterRent REIT. "With this important milestone, I'm pleased to say that every single InterRent suite in our multifamily communities is now certified by a trusted organization, meeting stringent standards from energy efficiency to environmental impact. This achievement validates the years of effort we've put into refining our operations and confirms the high standards we've consistently upheld in our communities."

"Achieving 100% multifamily building certification coverage is a testament to the dedication and commitment of our entire team," added Dave Nevins, COO of InterRent REIT. "This accomplishment fills our team members with pride, knowing that our communities are operated to high professional standards. It also gives our residents confidence that they are enjoying high-quality communities while supporting environmentally responsible practices."

The BOMA BEST Sustainable Buildings certification provides a widely-recognized framework for assessing sustainability performance, while facilitating continuous improvement in building operations and maintenance. The certification evaluates six key focus areas: Energy and Carbon, Water, Indoor Air Quality and Hazards, Accessibility and Wellness, Custodial and Waste, and Resilience and Site. Earning this certification reflects the REIT's commitment to sustainable energy management and ongoing performance improvement.

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties. 

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure, and offer opportunities for accretive acquisitions. 

InterRent's primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.  

SOURCE InterRent Real Estate Investment Trust