The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

InnVest Real Estate Investment Trust Announces Monthly Distribution

Thursday, February 17, 2011

InnVest Real Estate Investment Trust Announces Monthly Distribution12:24 EST Thursday, February 17, 2011TORONTO, ONTARIO--(Marketwire - Feb. 17, 2011) - InnVest Real Estate Investment Trust (TSX:INN.UN) announced today that a combined distribution of $0.0417 per stapled unit, payable on March 15, 2011, has been declared to the holders of record as at the close of business March 1, 2011. The combined distribution is made up of a distribution of $0.035445 per unit of InnVest Real Estate Investment Trust and $0.006255 per non-voting unit of InnVest Operations Trust.TRUST PROFILEInnVest Real Estate Investment Trust ("InnVest REIT") is an unincorporated open-ended real estate investment trust which owns a portfolio of 144 hotels across Canada representing approximately 19,000 guest rooms operated under internationally recognized brands. InnVest REIT leases its hotels to InnVest Operations Trust ("IOT"), a taxable trust. IOT directly and indirectly holds all of the hotel operating assets, earns revenues from hotel customers and pays rent to InnVest REIT. IOT also holds a 50% interest in Choice Hotels Canada Inc., the largest franchisor of hotels in Canada, and earns revenues from franchising fees.Each issued and outstanding InnVest REIT unit trades together with a non-voting unit of IOT as a "stapled unit" on the Toronto Stock Exchange (the "TSX") under the symbol INN.UN. InnVest REIT's convertible debentures trade on the TSX under the symbols INN.DB.B, INN.DB.C, INN.DB.D and INN.DB.E.FOR FURTHER INFORMATION PLEASE CONTACT: Kenneth GibsonInnVest Real Estate Investment TrustPresident and Chief Executive Officer(905) 206-7100(905) 206-7114 (FAX)ORTamara LawsonInnVest Real Estate Investment TrustChief Financial Officer and Corporate Secretary(905) 206-7100(905) 206-7114 (FAX)