08:06 AM EDT, 05/21/2025 (MT Newswires) -- InterRent Real Estate Investment Trust (IIP-UN.TO) said Wednesday it secured TSX approval to launch a normal course issuer bid.

Under the NCIB, the company may purchase up to 13,083,051 trust units or 10% of the REIT's public float from Friday up to May 22, 2026.

InterRent said it is pursuing the normal course issuer bid as the market price of its units may not fully reflect the underlying value of the business, and purchasing the units represent an attractive investment for the company and its unitholders.

InterRent's share price gained 3.9% on Tuesday to $12.09 on the TSX.