InterRent Real Estate Investment Trust (TSX:IIP.UN) filed a Notice of Intention and received approval from the Toronto Stock Exchange to commence a normal course issuer bid on July 29, 2013. Under the bid, the Trust will repurchase up to 4,596,134 units, representing 10 per cent of the REIT's public float of 45,961,336 units. InterRent will pay the market price at the time of acquisition for any unit purchased through the facilities of the TSX.

The trust will cancel the repurchased units. For the past six months, the average daily trading volume of InterRent units was 116,845. A maximum of 29,211 units (being 25% of the average daily trading volume) may be purchased by InterRent on any one day under the bid, except where purchases are made in accordance with “block purchases” exemptions under applicable TSX policies.

As of June 19, 2013, there were 57,141,017 units issued and outstanding. Purchases under the bid may begin on August 1, 2013 and will end no later than July 31, 2014. The units will be purchased for cancellation through the facilities of the TSX in accordance with its policies.