CAPREIT Announces January 2023 Distribution

Canadian Apartment Properties Real Estate Investment Trust

TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX – CAR.UN) announced today its January 2023 monthly distribution in the amount of $0.12084 per Unit (or $1.45 on an annualized basis). The January distribution will be payable on February 15, 2023 to Unitholders of record on January 31, 2023.

CAPREIT is Canada’s largest publicly-traded provider of quality rental housing. CAPREIT currently owns or has interests in approximately 67,000 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada and the Netherlands with approximately $17 billion of assets under management globally. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 103%. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedar.com.

For further information please contact:

CAPREIT Mr. Mark Kenney President & Chief Executive Officer (416) 861-9404

CAPREIT Mr. Stephen Co Chief Financial Officer (416) 306-3009

CAPREIT Mr. Julian Schonfeldt Chief Investment Officer (647) 535-2544