InterRent

News Release

InterRent Announces December 2019 Distributions

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Ottawa, Ontario (December 16, 2019) – InterRent Real Estate Investment Trust (TSX-IIP.UN) (“InterRent”) announced today that its distribution declared for the month of December 2019 is $0.025833 per Trust unit, equal to $0.31 per Trust unit on an annualized basis. Payment will be made on or about January 15, 2020 to unitholders of record on December 31, 2019.

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent's strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent's primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) to grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

For further information about InterRent please contact:

Mike McGahan	Brad Cutsey, CFA	Curt Millar, CPA, CA
Chief Executive Officer	President	Chief Financial Officer
Tel: (613) 569-5699 Ext 244	Tel: (613) 569-5699 Ext 226	Tel: (613) 569-5699 Ext 233
Fax: (613) 569-5698	Fax: (613) 569-5698	Fax: (613) 569-5698
e-mail: mmcgahan@interrentreit.com	e-mail: bcutsey@interrentreit.com	e-mail: cmillar@interrentreit.com

The TSX has not reviewed and does not accept responsibility

for the adequacy or accuracy of this release.