Pure Multi-Family REIT LP Announces Audited Consolidated Earnings and Operating Results for the Three Months and Year Ended December 31, 2018
March 06, 2019
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Pure Multi-Family REIT LP announced audited consolidated earnings and operating results for the three months and year ended December 31, 2018. For the three months, the company reported rental revenue - total was $27,600,000 against $26,200,000 a year ago. Net rental income - total was $15,756,000 against $15,076,000 a year ago.
For the year, the company reported rental revenue - total was $109,612,000 against $93,099,000 a year ago. Net rental income - total was $61,033,000 against $49,859,000 a year ago.
For the three months, the company reported average physical occupancy - same property was 95.6% against 95.5% a year ago.
For the year, the company reported average physical occupancy - same property was 95.2% against 94.6% a year ago.
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 
