Northview Canadian High Yield Residential Fund Announces Earnings Results for the Period Ended December 31, 2020
March 16, 2021 at 05:10 pm EDT
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Northview Canadian High Yield Residential Fund announced earnings results for the period ended December 31, 2020. For the period, net and comprehensive income for the period ended December 31, 2020 was $89.7 million and was driven by a gain on business combination of $104.5 million. Net operating income of $17.5 million for the period ended December 31, 2020 was earned on revenue of $31.1 million and represented an NOI margin of 56.2%. Total revenue was $31,059,000.
Northview Residential REIT is a Canada-based real estate investment trust. The Company is engaged in indirectly acquiring, owning, and operating a portfolio of income-producing rental properties in secondary markets within Canada. Its properties include multi-residential properties, commercial properties, and execusuite properties. Its multi-residential properties include Dawson Townhomes, Ridgeview Apartments, Parkview Apartments, Tuscany Manor, County Squire A and B, Willowbrook Townhomes, Mt. Glacier Apartments, and Springhill Apartments, among others. Its commercial properties include the Franklin Manor Building, Bristol Court Sun Life, Blackstone Federal Building, Mack Travel Building, Shoppers Drug Mart, NWT Commerce Place, and others. Its execusuite properties include Inuvik Capital Suites, Capital Suites, and Iqualit Capital Suites. The Company operates more than 14,600 multi-residential suites and execusuites.
NORTHVIEW RESIDENTIAL REIT 
