Northern Property Real Estate Investment Trust (NPR) is primarily a multi-family residential real estate investment trust, providing a range of rental accommodations and ancillary commercial space in Canadian secondary markets. NPR operates in British Columbia, the Northwest Territories, Alberta, Nunavut and Newfoundland. Its residential portfolio comprises three segments: apartments, townhomes and single family rental units; execusuite apartment rental units, where the rental periods range from a few days to several months, and seniors’ properties, where the properties are leased on a long-term basis to qualified operators who provide services to individual tenants. NPR’s commercial properties are located primarily in areas where NPR has residential operations. A significant portion of these properties are leased to federal and territorial governments and commercial tenants under long term leases.
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