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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 17, 2023 11:08am
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Post# 35741102

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

RE:RE:RE:RE:RE:Dividend cut coming ?From last report

LIQUIDITY AND CAPITAL RESOURCES

As at September 30, 2023, Northview had a working capital deficiency of $325.5 million (December 31, 2022 – $781.3 million), of which $260.6 million (December 31, 2022 – $288.4 million) related to the current portion of mortgages payable which is expected to be refinanced with new long-term mortgages. In addition, $62.4 million (December 31, 2022 – $nil) related to the current portions of Exchangeable Units and Redeemable Units. Exchangeable Units are exchangeable for Trust Units and Redeemable Units may be settled in cash or the issuance of Trust Units at Northview’s discretion. The working capital deficiency of $781.3 million as at December 31, 2022 included borrowings on the credit facilities of $503.5 million, for which the maturity was extended to December 31, 2024 during the nine months ended September 30, 2023.

They don't have enough cash, so may issue more units and it will be another dilution and affect AFFO payout
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