Mr. Mark Kenney reports

CAPREIT ANNOUNCES NOVEMBER 2023 DISTRIBUTION

Canadian Apartment Properties REIT has declared its November, 2023, monthly distribution in the amount of 12.083 cents per unit (or $1.45 on an annualized basis). The November distribution will be payable on Dec. 15, 2023, to unitholders of record on Nov. 30, 2023.

Canadian Apartment Properties REIT is Canada's largest publicly traded provider of quality rental housing. As at Sept. 30, 2023, CAPREIT owns approximately 64,500 residential apartment suites, townhomes and manufactured home community sites well-located across Canada and the Netherlands, with approximately $16.5-billion of investment properties in Canada and Europe. Since its initial public offering in May, 1997, CAPREIT has grown monthly cash distributions per unit by 103 per cent.