InterRent REIT Appoints Brad Cutsey as President
InterRent REIT Announces Appointment of Brad Cutsey as President
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Ottawa, Ontario (March 25, 2015) – InterRent Real Estate Investment Trust (TSX:IIP.UN) ("InterRent") is pleased to announce the appointment of Brad Cutsey as President of the Trust effective April 6th, 2015.
Mr. Cutsey is presently a managing director and group head of Real Estate Investment Banking at Dundee Securities Ltd. Mr. Cutsey comes with over 18 years of capital markets experience, of which, the vast majority has been real estate related. Mr Cutsey is very familiar with our assets and our partners as he has followed the REIT in either an equity analyst or an investment banking capacity since the Trust’s inception in 2006.
Mike McGahan, Chief Executive Officer, said, "We are very pleased to have Brad join InterRent. He is well-respected within the real estate and capital markets communities and we look forward to leveraging his relationships and his deep knowledge of the real estate industry and capital markets. We believe he will make a great addition to our senior management team. We have an excellent team and the addition of Brad gives the necessary bench strength to help scale our company."
InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.
InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.
InterRent's primary objective is to use the proven industry experience of the Trustees, Management and Operational Team to: (i) provide Unitholders with stable and growing cash distributions from investments in a diversified portfolio of multi-residential properties; (ii) enhance the value of the assets and maximize long-term Unit value through the active management of such assets; and (iii) expand the asset base and increase Distributable Income through accretive acquisitions.
Cautionary Statements The comments and highlights herein should be read in conjunction with the most recently filed annual information form as well as our consolidated financial statements and management’s discussion and analysis for the same period. InterRent’s publicly filed information is located at www.sedar.com. This news release contains “forward-looking statements” within the meaning applicable to 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 most recently publicly filed information located at www.sedar.com. 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. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For further information about InterRent please contact:
|Curt Millar, CA
|Chief Executive Officer
|Chief Financial Officer
|Tel: (613) 569-5699 Ext 244
|Tel: (613) 569-5699 Ext 233
|Fax: (613) 569-5698
|web site: www.interrentreit.com