TORONTO, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX – CAR.UN) announced today its October 2019 monthly distribution in the amount of $0.11500 per Unit (or $1.38 on an annualized basis). The October distribution will be payable on November 15, 2019 to Unitholders of record on October 31, 2019.
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.
As one of Canada’s largest residential landlords, CAPREIT is a growth-oriented investment trust managing 63,542 suites and sites across Canada, the Netherlands, and Ireland. It owns directly in Canada and indirectly in Netherlands through its investment in ERES a total of 59,908 residential units, comprising 48,231 residential suites and 72 manufactured home communities comprising 11,677 sites, all located in and near major urban centres. 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, which can be found under our profile at www.sedar.com.
For further information please contact:
Mr. Michael Stein,
Mr. Mark Kenney,
President & CEO
Mr. Scott Cryer,
Chief Financial Officer