TORONTO, ONTARIO-Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today its April 2017 monthly distribution in the amount of $0.10666 per Unit (or $1.28 on an annualized basis). The April distribution will be payable on May 15, 2017 to Unitholders of record on April 28, 2017.
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 48,773 residential units, comprised of 42,322 residential suites and 31 manufactured home communities comprising 6,451 land lease sites, located in and near major urban centres across Canada and The Netherlands. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 79%.
Source: Canadian Apartment Properties Real Estate Investment Trust