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Northview Residential REIT T.NRR.UN

Alternate Symbol(s):  NRRUF

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. Its portfolio consists of approximately 14,400 multi-residential suites and 200 execusuites across nine provinces and two territories.


TSX:NRR.UN - Post by User

Northview Residential REIT > Dividend cut coming ?
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Comment by incomedreamer11on Nov 15, 2023 6:43pm
133 Views
Post# 35738057

RE:RE:RE:RE:Dividend cut coming ?

RE:RE:RE:RE:Dividend cut coming ?FINANCIAL COVENANTS
Term facility

Consolidated debt to aggregate assets      Not greater than 70% 

Debt service coverage ratio                        Not less than 1.00

Portfolio equity Not less than                      $75 million

As at and during the nine months ended September 30, 2023, Northview was in compliance with all financial covenants, with the exception of the debt service coverage ratio of 1.35 for the period ended June 30, 2023, which was less than the limit at that time of 1.40.

Northview obtained a waiver of the debt service coverage ratio covenant effective June 30, 2023, and amended the threshold for the debt service coverage ratio to 1.20 as part of the credit facility amendments executed in the third quarter of 2023.

In January2024 they will hold AGM and if they will write down some book value of property

D/GBV will be above 70% ,all RITS  in 2023  and next year down book value of property because
cap rate increase due to high interest 

For some reason distribution 11% for this REIT, it means market not sure about sustainability



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