/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
WINNIPEG, MB, March 31,
2022 /CNW/ - Marwest Apartment Real Estate Investment
Trust ("Marwest Apartment REIT" or the "REIT") (TSXV:
MAR.UN) announces the issuance of deferred units of the REIT
("Deferred Units") to certain of its trustees for the period
of January 1, 2022 through
March 31, 2022, effective today, in
accordance with REIT's equity incentive plan adopted effective
April 30, 2021 (the "Equity
Incentive Plan") and the REIT's policy regarding the automatic
settlement of trustee compensation in Deferred Units.
The compensation payable to the trustees for the period noted
(other than meeting fees which were paid in cash) was settled 50
percent in Deferred Units at a price of $1.10 per Deferred Unit. Mr.
Luke Cain, Chair, was issued 4,483
Deferred Units, Mr. Jason Pellaers,
Chair of the Audit Committee, was issued 3,586 Deferred Units, Mr.
Cornelius Martens was issued 2,241
Deferred Units and Mr. James Green
was issued 3,362 Deferred Units, reflecting monetary compensation
of $4,931.30, $3,944.60, $2,465.10 and $3,698.20, respectively, rounded to the nearest
unit. The balance of the compensation was paid in cash in the
amounts of $4,931.71, $3,945.81, $2,466.41 and $3,699.06 respectively.
About Marwest Apartment
The REIT is an unincorporated open-ended trust governed by the
laws of the Province of Manitoba.
The REIT was formed to provide Unitholders with the opportunity to
invest in the Canadian multi-family rental sector through the
ownership of high-quality income-producing properties, with an
initial focus on stable markets throughout Western Canada.
Neither the TSXV nor its Regulation Services Provider (as that
term is defined in the policies of the TSXV) accepts responsibility
for the adequacy or accuracy of this news release.
SOURCE Marwest Apartment Real Estate Investment Trust