Pure Multi-Family REIT LP Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2018
August 09, 2018 at 05:29 am IST
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Pure Multi-Family REIT LP announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2018. For the quarter, the company‘s FFO was $6,446,000 or $0.08 per class A unit compared to $4,792,000 or $0.07 per class A unit during the same period in the prior year. AFFO was $6,005,000 or $0.08 per class A unit compared to $4,428,000 or $0.07 per class A unit during the same period in the prior year. Rental revenue was $27,359,000 against $21,804,000 reported last year. Net rental income was $15,492,000 compared to $11,313,000 during the same period in the prior year.
For the six months, the company‘s FFO was $13,877,000 or $0.17 per class A unit compared to $10,220,000 or $0.16 per class A unit during the same period in the prior year. AFFO was $12,994,000 or $0.16 per class A unit compared to $9,515,000 or $0.15 per class A unit during the same period in the prior year. Rental revenue was $54,472,000 against $42,641,000 reported last year. Net rental income was $30,627,000 compared to $22,413,000 during the same period in the prior year.
Pure Multi-Family REIT LP (Pure Multi) is a Canada-based company, which invests in multi-family real estate properties in the United States. The Company offers investors exposure to the United States multifamily real estate assets. It offers investors the ability to participate in monthly distributions, with potential for capital appreciation, stemming from ownership of quality apartment assets located in core cities within the Southwestern and Southeastern portions of the United States, including states, such as Texas, Arizona, Georgia and Nevada (collectively, the Sunbelt). It operates in the segment of owning and operating of multifamily apartment properties in the Sunbelt area in the United States. Pure Multi's portfolio consists of approximately 10 investment properties, with an aggregate of approximately 4,440 residential units, located in over four metropolitan areas: Dallas-Fort Worth (DFW), Texas; Houston, Texas; San Antonio, Texas, and Phoenix, Arizona.
PURE MULTI-FAMILY REIT LP 
