INVESTUS REAL ESTATE INC. DISCLOSES FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FISCAL 2010

QUEBEC CITY, April 28 /CNW/ -- 
QUEBEC CITY, April 28 /CNW Telbec/ - Investus Real Estate Inc. (TSX
 Venture: IVT), a real estate company investing in industrial properties
 in primary and secondary markets, mainly in Eastern Canada, announces
 its audited financial results for the fourth quarter and fiscal year
 ended December 31, 2010.


Operating Results:






 

                                     Quarters    Cumulative (12 Months)

Periods ended December 31          2010     2009        2010       2009

Rental revenue from income     408, 981  390,859   1,776,491  1,706,617
properties 

Net operating income((1))       361,895  364,364   1,464,092  1,458,760

Administrative expenses         104,031   62,533     322,519    484,754

Corporate reorganization costs       -         -           -    318,565

Net income (net loss)          (40,278)    9,354    (55,691)  (594,704)

Net income (net loss) per       
share

  (basic and diluted)           (0.001)    0.000     (0.002)    (0.020)

Funds from operations (FFO)(     94,974  155,077     485,314   (53,692)
(1)) 

(1) Non-GAAP financial measure. See the relevant section of the MD&A.





Rental revenue from income properties totalled $408,981 for the
 three-month period ended December 31, 2010, compared with $390,859 for
 the corresponding period of the previous year, an increase of 4.6 %
 attributable to the recovery of operating costs. For the fiscal year
 ended December 31, 2010, rental revenue totalled $1,776,491, compared
 with $1,706,617 for the corresponding period of 2009, an increase of
 4.1% resulting primarily from the recovery of realty taxes.


For the reporting quarter, net operating income amounted to $361,895,
 compared to $364,364 for the same period of 2009. For the fiscal year
 ended December 31, 2010, net operating income totalled $1,464,092, up
 from $1,458,760 for 2009, a slight increase of 0.4%.


For the fiscal year ended December 31, 2010, administrative expenses amounted to $322,519, down from $484,754 for
 fiscal 2009. These expenses decreased considerably and have stabilized
 due to the major reorganization carried out in the second quarter of
 2009, which notably includes a real estate management agreement with
 Corporation financière Alpha (CFA) inc.


Net loss for the fourth quarter of 2010 amounted to $40,278 or $0.001
 per share, compared with net income of $9,354 or $0.000 per share for
 the corresponding period of the previous year. For the fiscal year
 ended December 31, 2010, the net loss totalled $55,691, compared with
 $594,704 for the fiscal year ended December 31, 2009.


As indicated in the table above, funds from operations stood at $485,314
 for the fiscal year ended December 31, 2010, compared with a negative
 amount of $53,692 for the same period of 2009. This is due to the major
 reduction in the Company's administrative expenses as part of its
 corporate restructuring and the corporate reorganization costs
 considered to be of a non-recurring nature.


Forward-Looking Statements:
This press release may contain forward-looking statements with respect
 to Investus and its operations, strategy, financial performance and
 financial condition. These statements generally can be identified by
 the use of terms such as "may", "expect", "plan", ""anticipate",
 "estimate", "intend", "believe" or "continue" or the negative thereof
 or similar variations, as well as the use of the conditional and future
 tense. The actual performance and results of Investus discussed herein
 could differ materially from those expressed or implied by such
 statements. Such statements are qualified in their entirety by the
 inherent risks and uncertainties surrounding future expectations.
 Important factors that could cause actual results to differ materially
 from expectations include general factors related to the impact of
 economic conditions, industry conditions, government legislation,
 environmental risks, competition from other industry players, stock
 market volatility and the ability to access sufficient capital from
 internal and external sources. A full description of these risk factors
 can be found in the Initial Public Offering Final Prospectus of
 Investus Real Estate Inc. (formerly Capital Wapiti Inc.) dated April 5,
 2007 and the Filing Statement dated October 15, 2007, which are
 available electronically at www.sedar.com under Investus Real Estate Inc., the new business name. The cautionary
 statements qualify all forward-looking statements attributable to
 Investus and the persons acting on its behalf. Unless otherwise
 indicated, all forward-looking statements speak only as of the date of
 this press release.


About Investus Real Estate Inc.
Investus is a Canadian corporation that invests exclusively in
 industrial properties in primary and secondary markets, mainly in
 Eastern Canada. The Company owns four properties covering an area of
 slightly over 199,000 square feet and purchased for a total of
 $17.2 million. Further information about the Company is available at www.investus.ca and on SEDAR's website at www.sedar.com.


 


 


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p Serge Beaudet, President and Chief Executive Officerbr/ bInvestus Real Estate Inc. /b- [phone], ia href="mailto:[e-mail]" font-style="italic"[e-mail]/a/ii /i /p p align="justify" Roger Harvey, Chief Financial Officerbr/ bInvestus Real Estate Inc. /b- [phone], ia href="mailto:[e-mail]" font-style="italic"[e-mail]/a/ii /i /p 

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