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CAPREIT Appoints New Member of Board of Trustees

GlobeNewswire - Mon Dec 23, 7:54PM CST

Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR-UN.TO) announced today that Mr. Rene Tremblay has been appointed as a member of CAPREIT's Board of Trustees effective January 1, 2020.

Mr. Tremblay has over 35 years of experience in the real estate industry, having been involved in international investment and development for 25 years in numerous countries, including Brazil, Poland, France, Scotland, Spain, China, South Korea, Mexico, Germany, Canada, Luxembourg, Russia, Turkey and the United States. Mr. Tremblay joined Taubman Centers, a leader in the shopping center industry (NYSE:TCO) in 2010 as President of Taubman Asia where he was responsible for driving Taubman's shopping center expansion in the Asia-Pacific Region. He is the Chairman of Cominar REIT and currently serves on the board of Cogir Real Estate and the International Council of Shopping Centers. Mr. Tremblay's prior board experience includes serving as chairman of the real estate group of Caisse de dépot et placement du Québec - one of the fifteen largest diversified real estate portfolios in the world.

"Rene brings substantial global real estate experience in various sectors to CAPREIT. We are delighted to have him join the Board of Trustees," commented Michael Stein, Chairman.

ABOUT CAPREIT

CAPREIT is one of Canada's largest real estate investment trusts managing over 64,000 residential rental apartment and townhouse suites and manufactured home community sites in major urban centres across Canada, the Netherlands, and Ireland. 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 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 Mr. Mark Kenney Mr. Scott Cryer
Chairman          President & CEO Chief Financial Officer
(416) 861-5788    (416) 861-9404  (416) 861-5771

https://ml.globenewswire.com/media/cf56342f-b54b-450a-abfc-b980c43aec56/small/capreit-jpg.jpg

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