Pure Multi-Family REIT LP Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 05, 2018 at 09:06 pm
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Pure Multi-Family REIT LP announced consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported total rental revenue of USD 27,540,000 against USD 24,257,000 a year ago. Total net rental income was USD 14,648,000 against USD 12,369,000 a year ago. FFO was USD 6,098,000 or USD 0.08 per basic and diluted unit against USD 4,938,000 or USD 0.06 per basic and diluted unit a year ago. AFFO was USD 5,660,000 or USD 0.07 per basic and diluted unit against USD 4,093,000 or USD 0.006 per basic and diluted unit a year ago.
For nine months, the company reported total rental revenue of USD 82,012,000 against USD 66,898,000 a year ago. Total net rental income was USD 45,276,000 against USD 34,782,000 a year ago. FFO was USD 19,974,000 or USD 0.25 per basic and diluted unit against USD 15,157,000 or USD 0.22 per basic and diluted unit a year ago. AFFO was USD 18,653,000 or USD 0.24 per basic and diluted unit against USD 14,073,000 or USD 0.20 per basic and diluted unit a year ago.
Pure Multi-Family REIT LP (Pure Multi) is a Canada-based company, which invests in multi-family real estate properties in the United States. The Company offers investors exposure to the United States multifamily real estate assets. It offers investors the ability to participate in monthly distributions, with potential for capital appreciation, stemming from ownership of quality apartment assets located in core cities within the Southwestern and Southeastern portions of the United States, including states, such as Texas, Arizona, Georgia and Nevada (collectively, the Sunbelt). It operates in the segment of owning and operating of multifamily apartment properties in the Sunbelt area in the United States. Pure Multi's portfolio consists of approximately 10 investment properties, with an aggregate of approximately 4,440 residential units, located in over four metropolitan areas: Dallas-Fort Worth (DFW), Texas; Houston, Texas; San Antonio, Texas, and Phoenix, Arizona.