Pure Multi-Family REIT LP Announces Release of Q3 2012 Financial Results and Conference Call

VANCOUVER, Nov. 21, 2012 /CNW/ - Pure Multi-Family REIT LP ("Pure Multi") (TSXV: RUF.U) is pleased to announce the release of its financial results for the three months and period ended September 30, 2012.

Q3 2012 Financial Results

The results, consisting of Pure Multi's unaudited consolidated interim financial statements and Management's Discussion and Analysis ("MD&A") dated November 20, 2012, for the three months and period ended September 30, 2012, are available on SEDAR (www.sedar.com) and www.puremultifamily.com.

Key Highlights

• Gross Q3 rental revenues were US$ 1.32 million.
  
  
• Occupancy at September 30, 2012 was 96.3%.
  
  
• Weighted average mortgage interest rate for September 30, 2012 was 3.48%.
  
  
• Weighted average going-in capitalization rate was 7.16%.
  
  
• Acquisitions continue to be active:
  
  
• Q3 acquisitions totalled US $69.1 million including 1,008 apartment units.
  
  
• All four acquisitions were located in the Dallas Fort-Worth Metroplex.

Stephen Evans, CEO, states, "We are excited about our initial high-quality apartment acquisitions since the IPO.  We intend to continue to grow the portfolio within our conservative growth strategy.  Pure Multi's financial and operating results for the period are consistent with our long-term objectives, and reflect the strong fundamentals of the multi-family real estate market in the U.S. sunbelt region. We continue to focus on acquiring properties located in major U.S. markets featuring strong employment and population growth statistics, and management believes that Pure Multi is well positioned for future growth."

Conference Call

Management will host the conference call at 4:30 pm (EST), 1:30 pm (PST), on Wednesday, November 21, 2012, to review the financial results and corporate developments for the three months and period ended September 30, 2012.

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) ............................	1-888-231-8191
					International or Local Toronto .........................................................	1-647-427-7450

Conference Call Replay

If you cannot participate on November 21, 2012, 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 November 28, 2012.

Please enter the Replay ID# 70013704, followed by the # key.
					Replay Dial in number (Toll Free from Canada or the USA) ............	1-855-859-2056
					Local Dial-in numbers
					Vancouver .......................................................................................	778-371-8506
					Calgary ...........................................................................................	403-451-9481
					Toronto ...........................................................................................	416-849-0833
					Ottawa .............................................................................................	613-667-0035
					Montreal ..........................................................................................	514-807-9274
					Halifax .............................................................................................	902-455-3955

About Pure Multi-Family REIT LP

Pure Multi is currently the only publically traded vehicle in Canada which offers investors exclusive exposure to U.S. multi-family real estate assets. Pure Multi's units are denominated in United States dollars 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 the policies of the TSX Venture Exchange) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.

 

 

SOURCE: Pure Multi-Family REIT LP

Andrew Greig,
Director of Investor Relations

Pure Multi-Family REIT LP
Suite 910, 925 West Georgia Street
Vancouver, BC  V6C 3L2
Phone: [phone] or [phone]
E-mail: [email protected]