CAPREIT Appoints New Member of Board of Trustees

TORONTO, March 28, 2018 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that Mr. Jamie Schwartz has been appointed as a member of the REIT’s Board of Trustees effective immediately.

Mr. Schwartz is a Director in the Large Cap Corporate Banking Group with TD Securities. Mr. Schwartz has over 20 years of experience working in the banking, real estate and hospitality industries. Mr. Schwartz has spent the last 6 years at TD Securities in Toronto and New York, with responsibility for structuring and managing corporate debt. Prior to corporate banking, Mr. Schwartz was in TD's commercial mortgage group, providing mortgage financing for all classes of real estate assets across Canada. Before joining TD Securities, Mr. Schwartz was Vice President at HVS Consulting and Valuation, a global consulting organization, where he spent almost 10 years providing real estate strategic advisory services to the hospitality industry.

“Jamie brings a wealth of global real estate, hospitality and financial experience to the REIT. We are delighted to have him join the Board of Trustees,” commented Michael Stein, Chairman.

About CAPREIT

As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 50,630 residential units, comprised of 44,174 residential suites and 31 manufactured home communities comprising 6,456 land lease sites, located in and near major urban centres across Canada and The Netherlands. 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.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT's intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.

For more information, please contact:

Mr. Michael Stein
Chairman
(416) 861-5788
Mr. David Ehrlich
President & CEO
(416) 861-9404
Mr. Scott Cryer
Chief Financial Officer
(416) 861-5771

Source: Canadian Apartment Properties Real Estate Investment Trust