— Net proceeds from the sale used to reduce its revolving credit facility —

OTTAWA, ON, Dec. 11, 2023 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced the closing on December 7, 2023 of the sale of its remaining two properties located in Edmonton, Alberta. The York House and The Lancaster House comprise 190 units across the two properties.  The total sale price of $32.3 million is in-line with the REIT's IFRS net asset values and the proceeds from the sale of $7.0 million, net of mortgages and commissions, were used to repay a portion of its variable-rate revolving credit facility.