/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
WINNIPEG, MB, Nov. 24, 2021 /CNW/ - Marwest Apartment Real
Estate Investment Trust ("Marwest Apartment REIT" or the
"REIT") (TSXV: MAR.UN) is pleased to announce that its Board
of Trustees have adopted a monthly distribution policy pursuant to
which the REIT will pay monthly distributions. The initial
distribution will be to Unitholders of record on December 31, 2021 in the amount of $0.00125 per unit ($0.015 annualized) and will be paid on or about
January 15, 2022. Distributions
are subject to suspension, amendment or termination at any
time.
Mr. Luke Cain, Chair of the Board
of Trustees, commented "We are extremely pleased to start providing
distributions to our Unitholders which is consistent with our
objectives of providing Unitholders with stable and predictable
cash distributions."
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 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. Forward–looking statements in this news release
include, but are not limited to, the implementation of a cash
distribution policy. A number of factors could cause actual
results to differ materially from these forward–looking
statements. The payment of 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