InterRent Real Estate Investment Trust (TSX: IIP-U) owns and operates multi-unit residential properties primarily within the Greater Toronto Area (GTA), Greater Ottawa Area (GOA) and Montreal. In their September investor presentation, it was disclosed that 32% of the portfolio is in GTA, 27% in GOA, and 25% in Montreal. The remainder of the properties are in “secondary” markets which are essentially satellite cities within a two-hour drive from GTA. The company takes a conservative approach to its portfolio by focusing on regions with employment stability, population growth, and low vacancy rates. Geographically speaking, the InterRent portfolio is supported by growth in international immigration and the tendency of immigrants to locate in our major cities.
Disclaimer: Palos Funds are shareholders of IIP-U.
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By Charles Marleau, CIM
By Charles Marleau, CIM
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