September 30, 2009 (FinancialWire) — InterRent Real Estate Investment Trust (TSX: IIP.UN) (TSX: IIP.DB) announced that the Superior Court of Justice of Ontario has denied a request by NorthWest Value Partners Inc. (NorthWest) for a declaration that the trustees of InterRent did not have authority to complete on September 3, 2009, the $14 million private placement of units at $1.50 per unit in connection with its previously announced transaction with CLV Group Inc.

An application for a declaration that the placees in the Private Placement cannot vote at the upcoming annual and special meeting of unitholders was also denied. The Court also found that there was no basis upon which it could conclude that the Trustees acted in bad faith when they approved the Private Placement.

InterRent wishes to confirm that its upcoming annual and special meeting of unitholders will be held as scheduled on September 30, 2009.

The Private Placement had been approved by the TSX, which approval was upheld by the Ontario Securities Commission. The Superior Court of Justice dismissed an application by NorthWest for an injunction to prevent the completion of the Private Placement in a related application on September 3, 2009. This application by NorthWest was the fourth attempt to prevent the completion of or interfere with the Private Placement and has required InterRent to unnecessarily expend significant resources in order to proceed with a transaction that was in the best interests of the REIT and its unitholders. InterRent intends to hold NorthWest responsible for this interference.

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