CAPREIT Announces Election of Trustees

TORONTO, June 1, 2020 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today that, at its Annual and Special Meeting of Unitholders held today, each of the items of business referred to in its management information circular dated April 7, 2020 were passed by a vote held by ballot.

The voting results for each item of business are as follows:

Election of Trustees:

Nominee	Votes For	% Votes For	Votes Withheld	% Votes Withheld
Harold Burke	116,396,400	96.78%	3,874,595	3.22%
Gina Cody	120,124,718	99.88%	146,278	0.12%
Mark Kenney	118,964,958	98.91%	1,306,038	1.09%
Poonam Puri	119,289,278	99.18%	981,717	0.82%
Jamie Schwartz	119,234,588	99.14%	1,036,408	0.86%
Michael Stein	102,629,927	85.33%	17,641,069	14.67%
Elaine Todres	120,184,521	99.93%	86,475	0.07%
René Tremblay	120,079,941	99.84%	191,054	0.16%

Appointment of Auditors

	Votes For	% Votes For	Votes Withheld	% Votes Withheld
PricewaterhouseCoopers, LLP, Chartered Accountants	109,992,437	90.99%	10,891,552	9.01%

Advisory Vote on Executive Compensation

A non-binding advisory vote to accept CAPREIT's approach to executive compensation was approved.

Votes For: 116,554,786 (96.91%)
Votes Against: 3,716,206 (3.09%)

About CAPREIT

CAPREIT is one of Canada's largest real estate investment trusts. CAPREIT owns approximately 56,800 suites, including townhomes and manufactured housing sites, in Canada and, indirectly through its investment in ERES, approximately 5,600 suites in the Netherlands. CAPREIT manages approximately 60,900 of its owned suites in Canada and Netherlands, and additionally 3,700 suites in Ireland as at March 31, 2020. 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 which can be found under our profile at www.sedar.com.

SOURCE Canadian Apartment Properties Real Estate Investment Trust (CAPREIT)

CAPREIT, Mr. Michael Stein, Chairman, [phone]; CAPREIT, Mr. Mark Kenney President & CEO, [phone]; CAPREIT, Mr. Scott Cryer, Chief Financial Officer, [phone]