/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES./
TORONTO, Jan. 11, 2019
/CNW/ - Canadian Apartment Properties Real Estate Investment Trust
(TSX:CAR.UN) ("CAPREIT") announced today that it has successfully
closed the issuance of an additional 825,000 units for $45.50 per unit for aggregate gross proceeds of
$37,537,500 (the "Over-Allotment
Offering"), pursuant to the exercise of the over-allotment option
granted to the syndicate of underwriters led by RBC Capital Markets
in connection with the recent unit offering that closed on
January 4, 2019 (the "Base Offering"
and collectively with the Over-Allotment Offering, the "Offering")
on the same terms as the Base Offering. Gross proceeds from the
Offering total $287,787,500.
ABOUT CAPREIT
CAPREIT owns interests in multi-unit
residential rental properties, including apartments, townhomes and
manufactured home communities primarily located in and near major
urban centres across Canada and
The Netherlands. As at
December 31, 2018, CAPREIT had owning
interests in 51,528 residential units, comprised of 44,935
residential suites and 32 manufactured home communities ("MHC")
comprising 6,593 land lease sites. Since its Initial Public
Offering in May 1997, CAPREIT has
grown monthly cash distributions per unit by 86%. 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.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING
STATEMENTS
All statements in this press release that do not
relate to historical facts constitute forward-looking statements.
These statements represent CAPREIT's intentions, plans,
expectations and beliefs and are subject to certain risks and
uncertainties that could result in actual results differing
materially from these forward-looking statements. These risks and
uncertainties are more fully described in regulatory filings that
can be obtained on SEDAR at www.sedar.com.
SOURCE Canadian Apartment Properties Real Estate Investment
Trust (CAPREIT)