Corporate Profile

Northern Property Real Estate Investment Trust owns and operates rental real estate in secondary markets in Canada.  We have significant multi-family residential real estate investments in Alberta, a growing position in British Columbia and are the largest multi-family residential landlord in each of the Northwest Territories, Nunavut and the Province of Newfoundland and Labrador.  NPR's income producing portfolio is primarily residential including multi-family apartment rental units, furnished execusuites and master leased seniors' buldings.  We also have a portfolio of commercial buidings focused on government tenancies predominantly located in Canada's far north.

Geographically Diversified

NPR works in five diverse regions of Canaa:  Nunavut, the Northwest Territories, Newfoundland and Labrador, Alberta and British Columbia.  We focus on acquiring property in regions that are naturally wealthy or have the potential of becoming so.  We are engaged in northern areas where growth rates are generally higher and competition more restrained than in the metropolitan areas. 

Residential/Government Focus

Our primary business is providing rental residential property to Canadians in these carefully selected communities.  Our definition of housing is broad.  We own and operate rental apartments and townhomes.  We are a significant provider of housing to government and corporations, which sublet our units to their staff.  We provide furnished executive-suite accommodation in selected locations.  The REIT also owns and leases residential buildings and lands to companies which are in the business of providing accommodation and care services to seniors.

In addition, NPR has a portfolio of commercial properties primarily located in its northern communities.  Our commercial property most often involves government or corporate convenants and long-term leases.

Exposure to Canada's Natural Resource Economy

NPR's cities and towns are multi-faceted economically and often have an important natural resource component.  Our properties are in communities which have leadership positions in oil, natural gas, diamonds, forestry products or agriculture.  The communities in which we invest are filled with people who produce the commodities for which Canada is famous.  NPR embraces the great Canadian resource economy.  

Conservatively Managed

The Trust operates on a financially prudent basis.  The debt to gross book value ratio was 53.0 percent at year-end 2010.  The 2010 payout ratio was 68.2 percent of distributable income.