/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
WINNIPEG, MB, Oct. 2, 2023
/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 July 1, 2023 through September 30, 2023, to be effective September 30, 2023, in accordance
with REIT's equity incentive plan adopted effective
April 30, 2021, as amended, 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 by
issuing approximately 50 percent of the total compensation in
Deferred Units at a price of $1.10
per Deferred Unit. Mr. Luke Cain,
Chair, was issued 4,582 Deferred Units, Mr. Jason Pellaers,
Chair of the Audit Committee of the REIT, was issued 3,666 Deferred
Units, Mr. James Green, Chair of the
Governance, Compensation and Nominating Committee, was issued 3,437
Deferred Units, and Mr. Cornelius
Martens was issued 2,291 Deferred Units reflecting monetary
compensation of $5,040.20,
$4,032.60, $3,780.70, and $2,520.10, respectively, rounded to the nearest
unit. The balance of the compensation was paid in cash in the
amounts of $5,041.99, $4,033.15, $3,780.94 and $2,521.00 respectively.
About Marwest Apartment
REIT
The REIT is an unincorporated open-ended trust governed by the
laws of the Province of Manitoba.
The REIT was formed to provide holders of trust units of the REIT
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