BSR REIT Named as One of 2023 National Best Places to Work in Multifamily and National Best Places to Work in Multifamily for Women

LITTLE ROCK, Ark. and TORONTO, Feb. 23, 2023 /CNW/ - BSR Real Estate Investment Trust ("BSR" or the "REIT") (TSX: HOM.U) (TSX: HOM.UN) announced today that it has been named as one of the Best Places to Work in Multifamily and Best Places to Work in Multifamily for Women at the Multifamily Innovation Awards by Multifamily Leadership.

These distinctions are designed to recognize companies and REITs operating in the multifamily real estate industry that have established and consistently fostered outstanding workplace environments and acknowledged that employees can be a company's strongest and most valuable asset. The rigorous assessment process evaluated each organization's employee policies and procedures as well as responses from the organization's employees. The program is part of a long-term initiative to encourage growth and excellence throughout the Multifamily Apartment Industry and to attact new leaders to the industry.

"Receiving both distrinctions marks a special honor for our team at BSR," said Dan Oberste, BSR's President and Chief Executive Officer. "We are committed to providing a workplace culture that attracts, retains and rewards our employees who represent the foundation of our current and future growth."

About BSR Real Estate Investment Trust

BSR Real Estate Investment Trust is an internally managed, unincorporated, 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.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events, including the accretive impact of the REIT's capital recycling efforts on future financial results, and in some cases can be identified by such terms as "will" and "expected". Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. The risks and uncertainties that may impact such forward-looking information include, but are not limited to, the factors discussed under "Risks and Uncertainties" in the REIT's Management's Discussion and Analysis for the three months ended September 30, 2022 and in the REIT's annual information form dated March 8, 2022, both of which are available on SEDAR (www.sedar.com). The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.

SOURCE BSR Real Estate Investment Trust

Brandon Barger, Chief Financial Officer, BSR Real Estate Investment Trust, Tel: [phone], Fax: [phone]