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BSR REAL ESTATE INVESTMENT TRUST ANNOUNCES RESULTS OF VOTING AT ANNUAL GENERAL MEETING OF UNITHOLDERS

T.HOM.DB.U

This news release constitutes a "designated news release" for the purposes of the REIT's prospectus supplement dated December 8, 2021, to its short form base shelf prospectus dated December 1, 2021.

LITTLE ROCK, Ark. and TORONTO, May 11, 2023 /CNW/ - BSR Real Estate Investment Trust (the "REIT") (TSX: HOM.U) (TSX: HOM.UN) announced today the results of voting at its annual general meeting of unitholders held on May 11, 2023 (the "Meeting").

All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as trustees of the REIT, with the outcome of the vote being as follows:1

Nominee

Votes For

% Votes For

Votes Withheld

% Votes Withheld

John S. Bailey

18,041,075

96.440 %

665,875

3.560 %

William A. Halter

18,025,292

96.356 %

681,658

3.644 %

Bryan H. Held

18,641,127

99.648 %

65,823

0.352 %

W. Daniel Hughes, Jr.

18,005,016

96.248 %

701,934

3.752 %

Neil J. Labatte

18,014,233

96.297 %

692,717

3.703 %

S. Jane Marshall

18,675,922

99.834 %

31,028

0.166 %

Teresa Neto

18,675,162

99.830 %

31,788

0.170 %

Daniel M. Oberste

18,040,331

96.437 %

666,619

3.563 %

Graham D. Senst

17,242,576

92.172 %

1,464,374

7.828 %

Elizabeth A. Wademan

17,114,150

91.486 %

1,592,800

8.514 %


The REIT also reports that the appointment of KPMG LLP as the REIT's auditors for the 2023 fiscal year was passed by a majority of the votes represented at the Meeting.

The REIT's full report of voting results on matters presented at the Meeting can be found at www.sedar.com.

About BSR Real Estate Investment Trust

BSR Real Estate Investment Trust is an internally managed, unincorporated, and open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of multifamily garden-style residential properties located in attractive primary and secondary markets in the Sunbelt region of the United States.

___________________________

1 All matters were voted on by proxy or at the Meeting, without a ballot. The items in the chart reflect the proxy tabulation results.

SOURCE BSR Real Estate Investment Trust

Cision View original content: http://www.newswire.ca/en/releases/archive/May2023/11/c3859.html