Canada NewsWire
TORONTO and DALLAS, Aug. 15, 2016
TORONTO and DALLAS, Aug. 15,
2016 /CNW/ - Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today announced a
cash distribution of US$0.04583 per REIT unit for the month of August
2016, representing US$0.55 per REIT unit on an annualized basis. Payment will be made on
September 15, 2016 to unitholders of record as at August 31, 2016.
About Milestone
The REIT is an unincorporated, open-ended real estate investment trust that is governed by the laws of Ontario. The REIT's portfolio consists of 72 multifamily garden-style residential properties, comprising
22,546 apartment units that are located in 14 major metropolitan markets throughout the Southeast and Southwest United States. The REIT is the largest real estate investment trust listed on the TSX focused solely
on the United States multifamily sector. The REIT operates its portfolio through its internal
property management company, Milestone Management, LLC, which has approximately 1,500 employees and manages more than 50,000
apartment units across the United States. Based in Dallas, TX,
TMG Partners, L.P., an affiliate of The Milestone Group, LLC, is the external asset manager of the REIT. For more information,
please visit www.milestonereit.com.
About The Milestone Group, LLC
The Milestone Group is a privately-held real estate investment management company with expertise and presence in major
metropolitan markets throughout the United States. The firm has corporate offices in Dallas, Texas and New York, New York with regional acquisition and management
offices across the United States. Founded in 2004, The Milestone Group has a strong track record of investing in the U.S.
multifamily sector, including completion of approximately US$10 billion in multifamily transactions.
For more information, please visit www.milestonegp.com.
SOURCE Milestone Apartments REIT
Image with caption: "Milestone Apartments Real Estate Investment Trust (CNW Group/Milestone Apartments REIT) (CNW
Group/Milestone Apartments REIT) (CNW Group/Milestone Apartments REIT)". Image available at: http://photos.newswire.ca/images/download/20160815_C4980_PHOTO_EN_752159.jpg
