/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
WINNIPEG, MB, Jan. 16,
2023 /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 $0.00125
per trust unit ("Trust Unit") of the REIT for the month of
January 2023, representing a cash
distribution per Trust Unit of $0.015
on an annualized basis. The cash distributions will be made
on February 15, 2023 to Unitholders
on record as of January 31, 2023.
As at the date hereof, there are an aggregate of 8,667,564
Units, and 10,841,274 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