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Press release from CNW Group

Pure Multi-Family REIT LP Announces Release of Second Quarter Financial Results and Conference Call

Monday, August 19, 2013

Pure Multi-Family REIT LP Announces Release of Second Quarter Financial Results and Conference Call

08:00 EDT Monday, August 19, 2013

VANCOUVER, Aug. 19, 2013 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi") (TSXV: RUF.U, RUF.DB.U) is pleased to announce the release of its financial results for the three and six months ended June 30, 2013.

Q2 2013 Financial Results

The results, consisting of Pure Multi's unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2013 and Management's Discussion and Analysis ("MD&A") dated August 19, 2013, are available on SEDAR (www.sedar.com) and www.puremultifamily.com.

Key Highlights

  • As at June 30, 2013, Pure Multi's portfolio consists of 9 investment properties, which are valued at US$262.9 million, and consist of 2,840 rentable units, situated on over 162 acres of land.

  • Pure Multi raised US$35 million by issuing 7,000,000 Class A units from a bought deal public offering.

  • Rental revenue for the three and six months ended June 30, 2013 was US$6.4 million and US$11.9 million, respectively.

  • Physical occupancy at June 30, 2013 was 95.6%.

  • Weighted average mortgage interest rate as at June 30, 2013 was 4.13%, compared to 4.23% as at December 31, 2012.

  • Weighted average going-in capitalization rate was 6.81% on the investment property acquisitions to date.

  • Loan to gross book value ratio as at June 30, 2013 was 58.6%, compared to 57.4% as at December 31, 2012.

Conference Call

Darren Latoski, Executive Chairman, Steve Evans, CEO, Samantha Adams, VP, and Scott Shillington, CFO, of Pure Multi will host a conference call at 5:00pm (EST), 2:00pm (PST), on Monday August 19, 2013, to review the financial results and corporate developments for the three and six months ended June 30, 2013.

To participate in this conference call, please dial one of the following numbers approximately 10 minutes prior to the commencement of the call, and ask to join the Pure Multi-Family REIT LP Conference Call.

Dial in numbers

Toll Free dial in number (from Canada and USA) 1-888-390-0546
International or Local Toronto 1-416-764-8688

Conference Call Replay

If you cannot participate on August 19, a replay of the conference call will be available by dialing one of the following replay numbers. You will be able to dial in and listen to the conference 120 minutes after the meeting end time, and the replay will be available until August 26, 2013.

Please enter the Replay ID# 544860, followed by the # key.

Replay Dial in number (Toll Free from Canada or the USA) 1-888-390-0541
International or Local Toronto  1-416-764-8677

About Pure Multi-Family REIT LP

Pure Multi is a Canadian based, publically traded vehicle which offers investors exclusive exposure to U.S. multi-family real estate assets. Pure Multi's Units are USD denominated and allow Canadian investors the opportunity to buy into under-valued American hard assets while the Canadian dollar trades near 40 year highs.

Additional information about Pure Multi is available at www.puremultifamily.com or www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.


SOURCE: Pure Multi-Family REIT LP

For further information:

Andrew Greig,
Director of Investor Relations

Pure Multi-Family REIT LP
Suite 910, 925 West Georgia Street
Vancouver, BC V6C 3L2
Phone: (604) 681-5959 or (888) 681-5959
E-mail: agreig@puremultifamily.com

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