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CAPREIT Announces May 2014 Distribution

TORONTO, ONTARIO -- (Marketwired) -- 05/15/14 -- Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today its May 2014 monthly distribution in the amount of $0.09583 per Unit (or $1.15 on an annualized basis). The May distribution will be payable on June 16, 2014 to Unitholders of record on May 30, 2014.

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 41,214 residential units, comprised of 35,034 residential suites and 29 manufactured home communities comprising 6,180 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 61%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.

Contacts:
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

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