Ladies and gentlemen, welcome to the annual meeting of InterRent REIT. Please note the meeting will be recorded. I would like to introduce Mr. Paul Amirault, Chair of today's meeting. Mr. Amirault, it's yours. Thank you and good morning. It is now 11:00 A.M. My name is Paul Amirault, Chair and Trustee of InterRent REIT, and I will chair today's meeting. On behalf of the board of trustees, all of whom are in attendance today virtually, I welcome you to the annual meeting of unitholders of InterRent Real Estate Investment Trust. We are pleased to host the meeting through this virtual platform, accessible to all our unitholders, regardless of physical location, to participate, submit questions, and vote. There will be a presentation and Q&A session after the formal portion of the meeting has terminated. As the meeting is being held online via live webcast, it is appropriate to set out a few rules for online participants for the orderly conduct of this meeting. Number one, registered unitholders and proxy appointees who have questions in respect of a motion can submit their questions using the instant messaging feature provided within the online interface. Please refer to the Ask a Question tab that's in the upper left corner of your screen. Please note there might be a slight delay in the publication of the communications received. Number two, please feel free to submit your questions in respect of any motion at any time until polls are closed. In the interest of time, we will proceed with the reading of all resolutions and address your questions at the end after all the resolutions have been read. Number three, for the purposes of the meeting today, voting on all matters will be conducted by electronic ballot. Voting will open upon commencement of the formal portion of the meeting and remain open for you to vote at any time until the polls are closed. You may choose to vote on each resolution immediately or wait until the conclusion of any discussion on all resolutions prior to casting your vote. Number four, when you are asked to vote, you'll receive a message within the online interface requesting you to register your votes. You will only have a certain amount of time to do so when the polls are open. Number five, lastly, if you are a registered unitholder and you have already voted by proxy prior to the proxy cutoff time and do not wish to change or revoke your previous vote, please do not vote again when the ballots appear on your screen. By voting again, you will be revoking your previous vote. I would like to call the meeting to order. I will ask Michael Clancy to act as secretary of the meeting. I appoint Lori Winchester of TSX Trust Company to act as scrutineer of the meeting. In order to facilitate the procedural aspects of the meeting, we have asked certain unitholders to move and second the various motions as otherwise. As noted previously, voting on all matters will be conducted by electronic ballot. Only registered unitholders who held shares in their name as of May 7th, 2021, the record date of this meeting, or their validly appointed proxyholders, are entitled to vote at the meeting. The notice calling this annual meeting of unitholders and the management information circular dated May 7th, 2021, describing the matters to be considered today, were filed on SEDAR and posted on the REIT's website on May 17th, 2021. The required quorum for the meeting is two unitholders present, either holding personally or representing as proxies not less than 25% of the votes attaching to all units. I have the preliminary report on attendance from the scrutineer, and I can declare the requisite quorum to be present. The secretary will annex the scrutineer's report on attendance to the minutes of the meeting. Notice having been served in accordance with the declaration of trust and a quorum being present, I declare that this meeting is duly constituted for the transaction of the business set out in the notice of meeting. To be effective, all resolutions require an affirmative vote of the majority of votes cast. We will conduct the votes on the matters before us by a poll. On a poll, every unitholder entitled to vote on the matter has one vote in respect of each unit entitled to be voted on the matter and held by that unitholder. The poll will be open for all resolutions at the same time. This will allow you to choose to vote on each resolution immediately or wait until conclusion or discussion on all resolutions prior to casting your vote. We will run through each of the items on the agenda in turn and respond to questions, if any, with respect to the resolution at the end before voting is closed. Once discussion on all items of business has concluded, I will give you time to enter your votes and declare the voting closed on all resolutions. The results of the meeting will be publicly released and available on our website. Financial statements were previously mailed to unitholders that had requested them by completing a request for financial statements form. Copies of these financial statements are available for review on SEDAR. I now place before the meeting the financial statements of the REIT for the year ended December 31st, 2020, and the auditor's report to the unitholders. I would now like to ask the scrutineer to open the polls. The next item of business is the election of trustees. The following persons have been nominated by management for election as trustees, each of whom has agreed to act as a trustee and meets the qualifications set out in the declaration of trust to serve as a trustee. They are Paul Amirault, Paul Bouzanis, John Jessup, Ronald Leslie, Mike McGahan, and Cheryl Pangborn. As the trustees have not received notice in accordance with the declaration of trust of any other nominations, I declare the nominations closed. Based on the proxies received, I can confirm that each of the trustees individually received well over a majority of the votes cast for him or her. To streamline the voting process, we will elect each individual trustee through one omnibus resolution. The number of trustees to be elected at the meeting is six. I now call for a resolution that each of the six individual nominees whose name has been read and is hereby elected as a trustee of the REIT to hold office until the next annual meeting, or until his or her respective successor is appointed. Will someone so move? I move. Brian Awrey. Will someone please second the motion? I will now turn to the voting on the motion. If you haven't done so already, please feel free to cast your vote now or wait until the conclusion of the discussion on all resolutions prior to casting your vote. We will now proceed to the election of trustees and directors for two of the REIT's subsidiary entities. The following persons have been nominated for election as trustees of InterRent Trust, each of whom has agreed to act as a trustee and meets the qualifications set out in the declaration of trust to serve as a trustee. Paul Amirault, Paul Bouzanis, John Jessup, Ronald Leslie, Mike McGahan, and Cheryl Pangborn. The number of trustees of InterRent Trust to be elected is six. I now call for a resolution that the trustees of the REIT be directed to vote the units of InterRent Trust so that the nominees whose names have been read and are elected trustees of the InterRent REIT, sorry, trustees of InterRent Trust to hold office until the next annual meeting or until their respective successors are duly appointed. Will someone so move? Brian Awrey. Moved. Will someone please second the motion? Curt Millar. I second the motion. Thank you. Turning now to the other subsidiary entity. The following persons have been nominated for election as directors of InterRent Holdings General Partner Limited, each of whom has agreed to act as a director and meets the qualifications set out in the Ontario Business Corporations Act to serve as a director. Paul Bouzanis, Brad Cutsey, Mike McGahan, and Curt Millar. The number of directors of InterRent Holdings General Partner Limited is four. I now call for a resolution that the trustees of the REIT be directed to vote the shares of InterRent Holdings General Partner Limited so that the nominees whose names have been read are elected as directors of InterRent Holdings General Partner Limited to hold office until the next annual meeting or until their respective successors are duly appointed. Will someone so move? Brian Awrey. So moved. Will someone please second the motion? Curt Millar. I second the motion. Again, as previously noted, if you haven't done so already, please feel free to cast your votes on these motions now or wait until the conclusion of the discussion on all resolutions prior to casting your vote. The next item of business is the appointment of the auditors. RSM Canada LLP, chartered professional accountants, the current auditor of the REIT, is proposed as auditor of the REIT to hold office until the next annual meeting of unitholders. May I have a motion? Brian. So moved. Will someone please second the motion? Curt Millar. I second the motion. With this, all the motions have been read. We will now proceed to address questions, if any, with respect to these motions. Brian, are there any questions? There are none. Seeing that there are no questions, this concludes all discussions on the resolutions. I will now turn to the voting on the motions. I will be closing the poll shortly. For those of you who have not yet voted on all the resolutions, please do so now. It is now 11:09 A.M. I will close the polls on all resolutions at 11:10 A.M. to allow online views to catch up. The polls are now closed. Based on the preliminary report I received from the scrutineer, I declare all resolutions carried. Thank you to all for participating. This concludes the formal business of the meeting. May I have a motion for termination of the business portion of the meeting? Brian. So moved. Will someone please second the motion? Curt Millar. I second the motion. I declare the motion carried, and the meeting is terminated. As the formal business part of the meeting is over, I will now turn the meeting over to Mr. McGahan, Mr. Cutsey, and Mr. Millar for a brief presentation. Thank you. Hello, everybody. I'd just like to welcome you to our June 17th, 2021 AGM. Unfortunately, this is being done online and not in person. We're looking forward to stopping this and getting back to our usual occurrences with everybody in person. Hopefully, this will be the last year that we do it. I have here with me, Brad Cutsey, the president of InterRent REIT, and also Curt Millar, our CFO. As we start clicking through the slides, I will be passing it over to Curt, I believe, at the first point, or maybe it's Brad. We'll just find out. At the end of our slide deck, we'll be open for discussion and questions. Anyways, the first part, the first slide we have here, we have to obviously go over forward-looking statements. I'm not going to go read it to everybody. Hopefully, you can see it online, and if you don't see it online, you can always look at on our website. We'll have the whole presentation posted. As we go on, I click on the new slides, you'll see that the next slide just talks about. We're going to show you our agenda. We'll talk about the REIT, what we've done with COVID and our actions and outlook from COVID, the value creation strategy of the REIT, financial performance, and looking forward. First, I'm going to talk to you about the REIT in general. The REIT has grown tremendously since I've been involved with it and most of the management team's been with us for a long, long time. We've had a few people retire, mostly in this last year because of, I guess, the COVID kind of I'm sure everybody feels it's almost felt like five years or maybe seven years, depending on your outlook of what this last year's been. We've done tremendously well. I think we went from a market cap of about CAD 36 million or CAD 38 million. Now I believe we're up around CAD 2.2 billion or CAD 2.3 billion market cap. Done really well, it's just been everybody's effort and working together as a team. What we always strive for, these are five of our real pillars. We always want to provide great quality service and our products to our customers. We always operate in the highest integrity and really try to impact that in all the younger people in the organization. You should be, as hard it is to do it today, and we still obviously want to make sure that we have good paperwork with anything that we get involved in. I'll tell you, your word and your integrity means everything. It's your reputation. People will go the extra mile when they know that you have that sense of integrity, I want that to be through the whole DNA of the organization. It's very important to me and very important to our whole management team. We also have very strong teams and communities. Again, we respect each other, and that's the whole basis of working as a team and getting the most from each other. I guess the individual parts makes the sum of a much better team than us individually. Everybody understands that. We strive for giving excellent service to our customers. They're what it's all about all the time. The next slide goes over where our properties are situated. As you can see, we're really in four core markets. We're really exceedingly happy to where these markets are high-growth markets. We think we're going to see some great growth here as we get through the COVID. They've been pretty resilient as far as collection-wise. It's just great for efficiency and relationships and even starting to develop our scale. We just got some very good operational relationships and relationships for the transactional side too. We're really happy with it. As you can see, we're in the GTA, National Capital Region, so that's really Ottawa. I guess you can count Gatineau. Aylmer is our big property there. It's done exceedingly well here during this whole pandemic. Greater Montreal, where really primarily Côte Saint-Luc, we're in a lot of the downtown core in the Plateau, Villeray. We've done really good on the outskirts during the pandemic. We've been hurt in more of the downtown core just with the predominantly young professionals in the universities there that unfortunately, they haven't had in-person classes. It's been online, that's hurt us. We were really lucky to transaction out in Vancouver. We got premium locations. I'm so happy about it. It's so hard to get scale there to get into that market. We were so lucky to be in there. I'll tell you, what we're seeing is the rental take up and the kind of rents we're potentially hitting as we go through this, we think we've done extremely well in that transaction. The next slide is slide seven, and you can see it kind of goes over our history. Again, I told you about where we've gone in market cap. You can see we've had, I think, pretty good. You look at the distribution increases that have been very consistent over the years. Just like our total return, again, we were actually in the top 10 best performing TSX companies from the 2010 to the 2020 decade. Very proud of that. I'm very proud of our team. They all work extremely hard. We are looking forward to trying to repeat that in this decade. It's a tall order. Obviously, with COVID, we had a really rough year last year. Again, I think we're going to see that we're coming out with a lot of resilience and a lot of opportunity, and I think we're setting ourselves up for a good run. Next, I'm going to talk about just the actions and going through COVID and a little bit of our outlook. Again, our team did fantastic during COVID, and nobody planned for COVID. They really knocked it out of the park. We conducted over 10,000 wellness calls. I bet you it's probably closer to 15,000 or probably more. We were calling everybody, checking on them. Residents really appreciate it, especially we were really checking on the seniors and the vulnerable people, making sure that they had the ability to get groceries or if they had to get some prescription drugs or things of that nature. We were organizing to get it for them and making sure that they all felt safe and secure. We obviously went and got some great PPE for all of our valued employees and team members, and just keep them safe. Really, they were unbelievable keeping the buildings clean. We actually had a doctor who made a comment that it was in one of the buildings, and I'll tell you it's consistent through the portfolio, that it was cleaner in the building than it was in the hospital a lot of times. I was very proud of that. And you can see as we go through this whole slide is that, our residents responded fantastic to it. We barely had any issues with collection. The people that did, we gave some rent deferrals. Really, everybody in our community, and that's really what it is. It's almost like these are almost like little cities. Everybody stuck together. Everybody was responsible, everybody helped each other, and you really find out a lot about people when you go through these stressful times. Also, our team, we donated over CAD 100,000 of PPE. We encouraged a lot of our team members to get involved with local merchants, that's another CAD 100,000 went into that. I'll tell you, from the management committee, over and above, it was easy CAD 200,000 more, that we donated to a variety of different small businesses, the food banks, Boys and Girls Clubs, women's shelters, actually not even counting that. We gave some apartments to some of the women's shelters. I'm just really proud of our whole organization, and how they reacted, and really stood up for our community at large. Another thing we did is, this is slide 10, is the Clean and Secure program. As I said, a lot of fabulous comments back. I'll tell you, in the property management side, you usually only hear from your residents, and I'm not going to say that we're any better, but we don't usually email stores and tell them how happy we are with somebody who went above and beyond. It's pretty consistent, but I'll tell you, we got a tremendous amount of emails and phone calls thanking our team members for what they were doing, and just they're going above and beyond, and there's so much positive feedback. It made me extremely proud. I'm just going to talk about the financial side. I'm going to let Curt and Brad dig into it a little bit more. We made a call that we weren't going to just try to get to occupancy and lower our rents, and it was a tough call, and it was, I guess, a very debated call internally. Got heated, actually, at some points. I think it was totally the correct call, and at the end of the day, we all agreed with it. We all stepped forward with it. The pandemic has gone on a lot longer than any of us anticipated, but I think we're going to see that this is totally the right play. Now we're starting to see traffic come our way, and it's just the domestic students and some of the young professionals now with the vaccination program. The vaccination program has taken off, and I think Canada is going to end up being one of the leaders, if not the leader, I imagine, the total vaccination percentage of any country in the world, and so it's going very positively. Once with having domestic students, having some of the young professionals back, and then hopefully down the road, well, in short order, we'll start seeing international students and immigration pick up. We know that they won't really hit probably in full force until 2022, we're still seeing some good rental traffic, and we think we're in totally the right course of action than instead of giving all that growth away. We're extremely happy that we made that move. On the next slide, this is really slide 12. We're just, again, kind of all the different points I talked about. Really, really feel that this was the right move. I think all of our unit holders are going to be very happy that we chose this strategy. It was painful. It was hard. We're lucky, I'll tell you right now, that we were built for it. We're very lowly levered. We knew that good times don't last forever. Never called a pandemic as one of the different scenarios that may come after us. We really believe it was an excellent strategy. Again, we'll all enjoy the fruits of its labor as we go forward. At this point, I'm going to pass it on to Brad Cutsey, our President. Thanks, Mike. For those of you who know us well, this slide will be familiar. Our team has a proven track record of creating value through repositioning rental properties, and we embrace a core philosophy of continuous improvement across the business, from day-to-day operations through to capital investments and everything in between. Despite a competitive market, our acquisition criteria remain unchanged. We typically target properties that have been undermanaged so that we can apply our repositioning strategy to create value. We look for regions with healthy economic growth and population growth, a history of rental growth, and favorable supply-demand conditions. Our asset class proved to be resilient through the pandemic. You can see this from the chart on the right that the transaction volume for multifamily assets last year was more than double the average seen through the period 2010 - 2014. What's more telling is that our sector is firmly on the radar of institutional investors who have no doubt seen this defensiveness in action, but who may also be shifting away from some commercial holdings like office and retail that are experiencing structural changes. This narrative is a bit of a double-edged sword for us. Increased volume of the competition is driving down cap rates, which bodes well for our property appraisal values but also makes it tougher to get deals done at pricing we're willing to accept. However, it also opens up opportunities for us to partner with new investors who like the asset class but don't have an operational platform, as was the case with our recent expansion into Vancouver with Crestpoint. A quick snapshot of our external growth track record. You can see we continued to source deals in 2020 despite challenges with the lockdowns, and we have already closed on transactions of more than 1,100 suites so far in 2021, and don't see this trend stopping anytime soon. As I mentioned, the deal flow we're seeing right now is incredible, and our acquisition team is working extremely hard. We recently welcomed a new VP of Acquisitions, Asad Hanif, to the team, and we're excited to have him. We're currently sitting with firepower of just over CAD 300 million so that we can act quickly when opportunities arise. As you know, repositioning is the name of our game. We're expanding all aspects of the property, from the exterior to the common areas to suite upgrades. We wanted to draw your attention to some key metrics to illustrate the upside we see as our repositioning work continues. Clearly, as we work through our non-reposition portfolio, we expect to see improvements in average rent and occupancy, which will have a direct impact on our NOI margin. At the same time, our intent is to continue to backfill our non-reposition pipeline with acquisitions so that value creation cycle can continue. Before handing it over to Curt, I want to touch base on the development activities, as these projects are another important source of value creation in our business. We have four development projects in Ontario at various stages, with the office and residential conversion of 473 Albert Street in Ottawa being the first out of the gate. These projects are another example of how we can bring in partners to tap into exciting opportunities to create future value. I'll now turn it over to Curt. Thanks, Brad. Although 2020 is starting to feel like a long time ago, we wanted to highlight a few key financial metrics. In a challenging year, we were able to deliver net operating income growth of 6.2% for our total portfolio. As Mike mentioned earlier, the increase in vacancy and rebates for the year compared to 2019 impacted NOI and therefore FFO. Also, as mentioned, our strategy in 2020 was to hold rents and accept the short-term vacancy increase. Looking at the bottom charts on slide 23, with year-over-year average rent growth across all regions in our total and same property portfolios, we are confident that we made the right call, and we are extremely proud of the effort put forward by our team members in delivering these results. Moving to slide 24. Brad spoke to the upside we see in our non-reposition portfolio, and this slide provides a bit more color. You can see that the vacancy in this part of our business offers significant potential for future growth as we complete the repositioning efforts and increase occupancy at current market rents. Moving to slide 25. We don't believe in growing for the sake of growing. This chart, and the one that follows on the next slide, show that our portfolio growth has been aligned with de-risking the balance sheet, FFO per unit growth, and growth in our distributions. Depending on the timing and quantum of acquisitions and the corresponding repositioning efforts, FFO per unit growth may at times lag, but I believe that the long-term view of this chart demonstrates the results of our business model. We will continue to be diligent stewards of your capital. Before we move to the next slide, I think it's worth mentioning that in 2020, the combined impact from vacancy and COVID-related costs on FFO per unit was CAD 0.047 on a per weighted average unit diluted basis. You can infer from that what we see in the underlying growth of our business, which continues to be very solid. Moving to slide 27. We can see that over the last few years, the team has worked diligently at not only growing but also strengthening our balance sheet. We commenced 2020 with CAD 2.7 billion in investment properties. We acquired properties for approximately CAD 230 million during the year, invested a further CAD 55 million into our portfolio, and recognized a fair market value gain of CAD 70 million to end the year with a portfolio valued at CAD 3.1 billion. Our debt to GBV at December 31st was 31.1%. The increase in the value of our portfolio, combined with the CAD 230 million in net proceeds from an equity raise last June, has positioned the REIT well to be able to stick with its rent growth strategy, which should lead to strong NOI growth as we emerge from the pandemic. I would like to pass things back over to Mike for our look forward. Thank you, Curt. Appreciate that. I'm going to just give a little bit of a look forward to everybody here. I'm going to talk about our company just like what we've done in building a sustainable foundation. Recently, we participated in the GRESB's real estate assessment. We're going to be doing it for the second time. To be quite frank with you, we've been doing all this stuff for a long time. It's just good business. When I look at things like the environmental side, we've been doing that water saving fixtures and energy-efficient lighting for a long time, and probably one of the first real estate companies, not just publicly, but privately in Canada. We've been all over that stuff. It just makes good sense to try to make your costs go down and get good returns. We've been doing it all the way through. On the social side, we always know it's really important to have a strong team. We've been totally developing our team, and I'll tell you, it came through. It was very strong through this whole pandemic, how many people that were relying on each other, that cared about each other and cared about their community. We've quantified it now. We've done some of the surveys and that, and just really kind of found out more about ourselves. There's obviously things that we need to improve, and we're working on that as we go forward. It'll always be the same case as we go forward. You can never stop trying to get better. On the governance side, everybody's accountable. We hold ourselves in high integrity. We do that internally, externally. We look at how do we improve. We always just try to get the best people. I think that we've really carried ourselves very well as a company along the way. I know there's room for improvement, and I'll get it to you again, too. Curt's really pushed this, and so has Brad, and we're lucky enough that we actually have somebody overseeing this for us, Sandy Rose. She's our new director of investor relations and ESG, really pleased with that. I think it's really going to help our company get better and better. The next slide is, again, I'm going to give Curt and Brad full measure of compliments here. They've really been on top of trying to get ahead on the digitization of our business. Our business is predominantly, look, we're dinosaurs. Everybody's been so far behind, I really tell you that we have rapidly moved ourself forward. I think it's paid off in big time here as we went through the pandemic. Probably pulled ourself three to five years ahead. We've done so much in the last little while, even through work orders and just on the whole payment side and just the relationship side with our residents and tracking that and tracking the inflow on the analytics with our applications and prospects. I'm just really, really pleased with how that's gone. In summary, I just have to say that I feel we've done great going through the whole pandemic. As far as best as a company could go. We're very lucky that we're very lowly levered, very conservative and flexible balance sheet. We've even been able to keep purchasing and actually purchasing at a fairly good clip through this whole thing. Probably one of our best years as far as new purchases and that. You can see we're also, I think we've set ourselves up, as I talked about, not worried about occupancy, knowing that people will come back, traffic will come back, and demand is going to be, we believe, huge as we go forward here. We're going to see some great rental growth. We see it internally, organically and external rental growth. We've also had some great joint ventures and partnerships that we've developed. We think there's going to be a lot more of that coming down the road. Also, as we go into this year, we currently have 3,100 suites in repositioning portfolio. Again, talking about that growth prospects, we've got great growth prospects there. We've told everybody here numerous times, and I think everybody knows about some of the great development sites we have. There's going to be great potential there on greenfield development and some intensification. We have a lot of levers to push, and I can see some great couple of years here and more than a couple of years under our belt. I think there's just a lot of potential for us as we go forward. We may look at new markets, but really what we want to do is stay to our core. We got four great core markets that I really believe we'll spend this solid year concentrating on them. There's a lot of growth opportunity, a lot of consolidation opportunity there. Thank you, everybody. I really hope everybody's doing well, and I appreciate everybody taking the time. At this point in time, we're open to take questions. Again, thank you. We're going to check on the questions, and I don't think we have any. No, I can confirm we have no questions, Paul. With that, no further questions. We're going to bring the informal meeting also to a close. I'd like to thank everybody for attending. Have a great day, and we all hope that we'll see each other in person next year. Thank you very much. Ladies and gentlemen, thank you for joining today's meeting. You may now disconnect.