CAPREIT announces November 2016 distribution
TORONTO, ONTARIO--(Marketwired - Nov. 14, 2016) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today its November 2016 monthly distribution in the amount of $0.10417 per Unit (or $1.25 on an annualized basis). The November distribution will be payable on December 15, 2016 to Unitholders of record on November 30, 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 48,191 residential units, comprised of 41,748 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.
FOR FURTHER INFORMATION PLEASE CONTACT: CAPREIT Mr. Michael Stein Chairman (416) 861-5788 CAPREIT Mr. Thomas Schwartz President & CEO (416) 861-9404 CAPREIT Mr. Scott Cryer Chief Financial Officer (416) 861-5771 Source: Canadian Apartment Properties Real Estate Investment Trust