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Press release from Marketwire

InterRent Announces Closing of Private Placement

Wednesday, June 30, 2010

InterRent Announces Closing of Private Placement12:04 EDT Wednesday, June 30, 2010TORONTO, ONTARIO--(Marketwire - June 30, 2010) - NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESInterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) ("InterRent") is pleased to announce, it has closed an arm's length non-brokered private placement to institutional and high net worth investors. The private placement of 2,486,115 trust units of InterRent (the "Units") was closed at a price of $1.43 per Unit for aggregate gross proceeds of $3,555,144. About InterRentInterRent is a real estate investment trust engaged in building unitholder value through the accretive acquisition, ownership and operation of strategically located income producing multi-residential real estate, with 4,033 apartment suites under ownership.Forward Looking StatementsThis news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". InterRent is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. A full description of these risk factors can be found in InterRent's publicly filed information which may be located at InterRent cannot assure investors that actual results will be consistent with these forward looking statements and InterRent assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.FOR FURTHER INFORMATION PLEASE CONTACT: InterRent Real Estate Investment Trust Mike McGahan Chief Executive Officer (613) 569-5699 Ext 244 (613) 569-5698 (FAX) or InterRent Real Estate Investment Trust Curt Millar, CA Chief Financial Officer (613) 569-5699 Ext 233 (613) 569-5698 (FAX) The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.