InterRent REIT says 'strong balance sheet' has it primed for

InterRent REIT says 'strong balance sheet' has it primed for 2021 bounceback


InterRent REIT says its books remain in good shape after a tumultuous year that saw the overall vacancy rate at the firm’s properties nearly double in the wake of the pandemic.
In its 2020 financial filings released this week, the Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric for REITs – rose nearly 11 per cent last year to $56.7 million. 
The company also boosted the size of its portfolio substantially in 2020, acquiring 880 suites as its total inventory surpassed 11,000 units. The additional cash flow from those properties helped bolster InterRent’s balance sheet as the vacancy rate across its portfolio jumped to 8.7 per cent, up from 4.4 per cent in December 2019.

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