TORONTO, ONTARIO--(Marketwired - Aug. 15, 2016) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today its August 2016 monthly distribution in the amount of $0.10417 per Unit (or $1.25 on an annualized basis). The August distribution will be payable on September 15, 2016 to Unitholders of record on August 31, 2016.
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 owning interests in 48,465 residential units, comprised of 42,022 residential suites and 31 manufactured home communities comprising 6,443 land lease sites, located in and near major urban centres across Canada. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 75%. 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.