Mr. Mark Kenney reports

CAPREIT ANNOUNCES AUGUST 2023 DISTRIBUTION

Canadian Apartment Properties REIT has declared its August, 2023, monthly distribution in the amount of 12.083 cents per unit (or $1.45 on an annualized basis). The August distribution will be payable on Sept. 15, 2023, to unitholders of record on Aug. 31, 2023.

CAPREIT is Canada's largest publicly traded provider of quality rental housing. As at June 30, 2023, CAPREIT owns approximately 65,000 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. Since its initial public offering in May, 1997, CAPREIT has expanded monthly cash distributions per unit by 103 per cent.