TORONTO, March 16, 2020 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (âCAPREITâ) (TSX â CAR.UN) announced today its March 2020 monthly distribution in the amount of $0.11500 per Unit (or $1.38 on an annualized basis). The March distribution will be payable on April 15, 2020 to Unitholders of record on March 31, 2020.
To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.
CAPREIT is one of Canadaâs largest real estate investment trusts. CAPREIT owns approximately 56,800 suites, including townhomes and manufacturing housing sites, in Canada and, indirectly through its investment in ERES, approximately 5,600 suites in the Netherlands. CAPREIT manages approximately 60,900 of its own suites in Canada and Netherlands, and additionally, approximately 3,700 suites in Ireland. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 93%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.caprent.com or www.capreit.net and our public disclosure at www.sedar.com.
For further information please contact:
Mr. Michael Stein,
Mr. Mark Kenney,
President & CEO
Mr. Scott Cryer,
Chief Financial Officer