OTTAWA, ONTARIO–(Marketwire – Aug. 12, 2010) –

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InterRent Real Estate Investment Trust (TSX:IIP.UN)(TSX:IIP.DB) (“InterRent“) currently reported one after another swell in the you do of the vital devise along with the monetary formula for the second entertain finished Jun 30, 2010.

Highlights for the Three Months Ended Jun 30, 2010

• Gross let revenues for the entertain were $9.5 million, up 3.7% compared to Q2 2009 and 3.5% for the initial half of the year compared to the initial half of 2009.

• Net revenues for the entertain were $8.4 million, a 4.5% diminution compared to Q2 2009 and a 3.4% diminution for the initial half of the year compared to the initial half of 2009. This diminution is as a outcome of the management’s preference to move to marketplace rates and some-more resourceful criteria for brand brand new tenants.

• In gripping with management’s repositioning strategy, the normal monthly rent for the entertain increasing to $789 per section from $760 (Q2 2009) and from $780 (Q1 2010) an enlarge of 3.7% and 1.1% respectively.

• The collateral investments in let units and usual areas over the final entertain have been approaching to definitely stroke the capability to grasp marketplace rents, capture fast tenants and revoke vacancies.

• Net Operating Income (NOI) decreased by 15% to $3.9 million compared to Q2 2009 and a 16% diminution for the initial half of the year compared to 2009. Compared to Q1 2010, NOI is up by 29.8% over the initial entertain of 2010.

• Operating costs increased, essentially due to the vital preference in Q4 2009 to outsource skill government to a third party. This move was finished in sequence to exercise a finish restructuring of the handling indication as good as skill specific handling losses and was compulsory to grasp marketplace rents. These costs have started to lapse to stabilized levels and government expects them to diminution in Q3 and Q4.

• Funds from Operations (FFO) were $0.60 million, up from $0.56 million over the 3 months finished Mar 31, 2009 and up $0.72 million from the initial entertain of 2010. FFO per REIT section was $0.02 for the 3 months finished Jun 30, 2010 compared to $0.03 in 2009.

• Distributable Income (DI) was ($0.36) million, or ($0.01) per section compared to ($0.06) million, or ($0.00) per REIT section over the 3 months finished Jun 30, 2009.

Financial Highlights

Results for the Three Months Ended Jun 30, 2010

“The you do of management’s vital devise is good underway. The upgrades to skill usual areas and initial sense upgrades will significantly stroke the capability to grasp marketplace rents, capture fast tenants and revoke vacancies” pronounced Mike McGahan, Chief Executive Officer.

InterRent continues to concentration on investing in appetite fit inclination together with boilers as good as H2O and hydro saving devices. These investments assistance to expostulate down operational costs whilst benefiting the environment. InterRent is additionally upgrading usual areas via the portfolio in sequence to show off the intensity to enlarge rents on turnover via the portfolio.

“All the tough work the staff in the margin have been you do is commencement to bear ripened offspring as we broach on the plan. As of Aug 11, 2010, we have seen the per section cavity rate come down to 7.4%. Although we still have many work to do, this represents a poignant enlarge in occupancy and indicates which we have been on the right path.” pronounced Mike McGahan, Chief Executive Officer.

In gripping with the government devise of maximizing gain for unitholders and focusing on clusters of buildings inside of geographical vicinity to any pick in sequence to set up operational efficiencies and capture focused, veteran staff, properties have been reviewed on a unchanging basement to establish if they should be kept or likely of. As of Aug 11, 2010, dual locations have been listed and have been conditionally sold. These locations paint a sum of twenty-six units.

*Non-GAAP Measures

InterRent REIT assesses and measures segmented handling formula formed on opening measures referred to as “Funds From Operations” (“FFO”) and Distributable Income (“Dl”). Both FFO and DI have been at large supposed supplemental measures on the opening of a Canadian genuine estate investment trust; however, they have been not measures tangible by Canadian in all supposed accounting beliefs (“GAAP”). The GAAP measurements many allied to FFO and DI have been sum money upsurge from handling activities and net earnings. FFO and DI, however, should not be construed as an pick to net gain or money upsurge from handling activities dynamic in suitability with GAAP as indicators of InterRent REIT’s performance. In addition, InterRent REIT’s calculation methodology for FFO and Dl might talk about from which of pick genuine estate companies and trusts and thus readers should not place faith on these measures.

About InterRent

InterRent is a genuine estate investment certitude intent in office building unitholder worth by the accretive acquisition, tenure and operation of strategically located income producing multi-residential genuine estate, with 4,033 unit suites underneath ownership.

Forward Looking Statements

This headlines recover contains “forward-looking statements” inside of the definition of the United States Private Securities Litigation Reform Act of 1995 and germane Canadian bonds legislation. Generally, these forward-looking statements can be identified by the make use of of forward-looking vernacular such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such difference and phrases or state which sure actions, events or formula “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. InterRent is theme to poignant risks and uncertainties which might means the tangible results, opening or achievements to be materially opposite from any destiny results, opening or achievements voiced or pragmatic by the brazen seeking statements contained in this release. A full outline of these risk factors can be found in InterRent’s publicly filed report which might be located at www.sedar.com. InterRent cannot assure investors which tangible formula will be unchanging with these brazen seeking statements and InterRent assumes no requisite to refurbish or correct the brazen seeking statements contained in this recover to simulate tangible events or brand brand new circumstances.