TORONTO, ONTARIO--(Marketwired - March 15, 2016) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today its March 2016 monthly distribution in the amount of $0.10167 per Unit (or $1.22 on an annualized basis). The March distribution will be payable on April 15, 2016 to Unitholders of record on March 31, 2016.
To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.
As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 47,460 residential units, comprised of 41,171 residential suites and 30 manufactured home communities comprising 6,289 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 71%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.caprent.com or www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.