TORONTO, ONTARIO–(Marketwired – May 8, 2015) – Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that its Board of Trustees has approved a 3.4% increase in annualized cash distributions to $1.22 per Unit ($0.1017 per Unit monthly) effective with the May 2015 distribution payable on June 15, 2015 to Unitholders of Record as at May 29, 2015.
“We are very pleased to announce our twelfth increase in cash distributions to Unitholders, a reflection of our highly positive future outlook and our commitment to enhancing Unitholder value over the long term,” commented Thomas Schwartz, President and CEO.
CAPREIT owns interests in multi-unit residential rental properties, including apartments, townhomes and manufactured home communities primarily located in and near major urban centres across Canada. As at March 31, 2015, CAPREIT had owning interests in 41,837 residential units, comprised of 35,552 residential suites and 30 manufactured home communities (“MHC”) comprising 6,285 land lease sites. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure which can be found under our profile at www.sedar.com.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT’s intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
Mr. Michael Stein
Mr. Thomas Schwartz
President & CEO
Mr. Scott Cryer
Chief Financial Officer