CAPREIT Announces Election of Trustees

TORONTO, ONTARIO--(Marketwired - May 21, 2013) - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today that, at its Annual and Special Meeting of Unitholders held today, all of the nominees for election as trustees of CAPREIT referred to in its management information circular dated April 1, 2013 were elected as trustees by a vote by show of hands. Had a ballot vote been undertaken, based solely upon the proxies received by CAPREIT, the voting results for the election of the trustees would have been as follows:

As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 37,884 residential units, comprised of 34,514 residential suites and 14 manufactured home communities comprising 3,370 land lease sites located in and near major urban centres across Canada. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 61%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.