Inovalis Real Estate Investment Trust Announces Special Non-Cash Distribution for December 2024

TORONTO--(BUSINESS WIRE)--December 13, 2024-- 

Inovalis Real Estate Investment Trust (the "REIT") (TSX: INO.UN) announced today that its Board of Trustees has declared a special distribution of $0.225 per Unit. The distribution will be payable in Units to Unitholders of record as at December 31, 2024.

The special distribution will be made to distribute to Unitholders the taxable income realized by the REIT from transactions completed during the year ended December 31, 2024.

The special distribution will be paid at the close of business on December 31, 2024 by the issuance of Units that have a fair market value equal to the dollar amount of the special distribution based on the closing price of the Units on the Toronto Stock Exchange on December 31, 2024.

Immediately following the special distribution, the outstanding Units of the REIT will be consolidated such that the total number of Units outstanding will not change, and each Unitholder will hold, after the consolidation, the same number of Units as such Unitholder held before the special distribution.

The amount of the special distribution generally should increase the tax cost basis of Unitholders' consolidated Units for Canadian federal income tax purposes.

The REIT cautions that depending on the tax status of the Unitholder, additional tax may arise associated with the special distribution. Unitholders not resident in Canada for Canadian federal income tax purposes will be subject to applicable withholding taxes in connection with the payment of the special distribution. The foregoing comments are not intended to be, and should not be construed as, legal or tax advice to any Unitholder. The REIT recommends that Unitholders consult their own tax advisors regarding the income tax consequences to them of this anticipated special distribution and related Unit consolidation.

About Inovalis REIT

Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund $(AIF)$ by the CSSF in Luxemburg, and managed by Inovalis S.A.

About Inovalis Group

Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM laws. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with stable real estate focus such as Eurovalys (for Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets

Inovalis Group (www.inovalis.com), founded in 1998 by Inovalis SA, is an established pan European real estate investment player with EUR 7 billion of AuM and with offices in all the world's major financial and economic centers in Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. The group is comprised of 300 professionals, providing Advisory, Fund, Asset and Property Management services in Real Estate as well as Wealth Management services.

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    CONTACT: 

For further information, please contact:

Stephane Amine, President and Chief Executive Officer

Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3315

stephane.amine@inovalis.com

Khalil Hankach, Chief Financial Officer

Inovalis Real Estate Investment Trust

Tel: +33 1 5643 3313

khalil.hankach@inovalis.com

(END) Dow Jones Newswires

December 13, 2024 17:00 ET (22:00 GMT)