Mr. Stephen Evans reports

PURE MULTI-FAMILY REIT LP ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED PROPERTY DISPOSITION FOR US$17.85-MILLION

Pure Multi-Family REIT LP has sold Oakchase Apartment Homes, located in Arlington, Tex., a submarket of Dallas-Fort Worth, for gross proceeds of $17.85-million (U.S.).

Oakchase is composed of 236 residential units, situated on 10.2 acres of land, and was built in 1984. As part of Pure Multi's commitment to create value for its unitholders through selective dispositions of its Class B assets, Pure Multi intends to use the net proceeds from this sale toward the previously announced acquisition of a newly constructed asset located in San Antonio, Tex., which is expected to close on Sept. 30, 2015.

Oakchase was purchased as part of Pure Multi's initial public offering portfolio in July, 2012, for $13,580,133 (U.S.).

Stephen Evans, chief executive officer, stated: "We are very happy to continue to execute on our value-add strategy, culminating in the successful sale of Oakchase, one of the oldest assets in our portfolio, at a significant profit, where we realized an annualized gain on the equity invested of over 27 per cent. We are pleased to once again be able to utilize the 1031 like-kind exchange that exists in the U.S., as we intend to reinvest the net proceeds, on a tax-deferred basis, in the previously announced acquisition of a brand new property located in San Antonio, which will enhance the overall quality of our portfolio."

We seek Safe Harbor.