Mr. Mark Kenney reports

CAPREIT ANNOUNCES JULY 2023 DISTRIBUTION

Canadian Apartment Properties Real Estate Investment Trust today declared its July, 2023, monthly distribution in the amount of 12.084 cents per unit (or $1.45 on an annualized basis). The July distribution will be payable on Aug. 15, 2023, to unitholders of record on July 31, 2023.

About Canadian Apartment Properties REIT

CAPREIT is Canada's largest publicly traded provider of quality rental housing. As at March 31, 2023, CAPREIT owns approximately 66,000 residential apartment suites, townhouses and manufactured home community sites well located across Canada and the Netherlands, with approximately $17-billion of investment properties in Canada and Europe.