CSC REIT Completes Initial $2.6 Million Financing

MARKHAM, ONTARIO--(Marketwired - Jan. 20, 2016) - NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Canadian Student Communities Real Estate Investment Trust ("CSC REIT"), a real estate investment trust focused on owning and operating Canadian student housing properties, is pleased to announce that it has completed its initial round of financing pursuant to a non-brokered private placement (the "Offering") of 260,000 trust units of CSC REIT (the "Trust Units") at a price of $10.00 per Trust Unit for gross proceeds of $2,600,000. The proceeds from the Offering will be used to fund the acquisition of multi-unit student housing properties and for closing costs, working capital and general purposes.

CSC REIT was established to acquire and operate multi-unit student housing properties in Ontario and other jurisdictions where opportunities exist for student housing near universities and colleges. CSC REIT is a private trust that is focused on owning well-located, condo-style student apartments at key universities and colleges across Canada.

CSC REIT acquired its initial portfolio of two properties in Waterloo, Ontario, near the University of Waterloo and Wilfrid Laurier University, from JD Development Group Inc. ("JD Development Group"), an Ontario-based Canadian real estate developer of best-in-class high-rise student apartments with over $350 million of completed and in-process student apartment developments in Canada. CSC REIT believes that its buildings reflect evolving student expectations and it differentiates itself from the dated existing inventory on the market that is driving the demand for new purpose-built student accommodations. The properties offer a full set of condo-style amenities, including fitness rooms, connectivity and security features. CSC REIT plans to continue to acquire additional, best-in-class, institutional-quality stabilized purpose-build student apartments across Canada.

Julia Zhang, the founder and CEO of JD Development Group and a trustee of CSC REIT stated, "The completion of this initial financing enables CSC REIT to continue to grow its property portfolio with additional investments in high quality student housing. We believe there are many opportunities for CSC REIT to grow in the student housing space through its continued relationship with JD Development Group and third party acquisition opportunities. We are excited at the prospects of developing a portfolio of best-in-class student housing assets in Canada."

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

About CSC REIT

CSC REIT is a trust established under the laws of the Province of Ontario. CSC REIT is focused on acquiring and operating multi-unit student housing properties in Ontario and in other jurisdictions where opportunities exist. CSC REIT's initial properties consist of two high-rise buildings located in Waterloo, Ontario within walking distance of the University of Waterloo and Wilfrid Laurier University.

Cautionary Language and Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements". Such forward-looking information includes statements about the use of proceeds of the Offering, future asset acquisitions and other terms of the Offering and objectives. Although CSC REIT believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.