David Sloan Resigns from CAPREIT Board of Trustees

TORONTO, Sept. 1, 2017 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today that David Sloan has resigned from CAPREIT's board of trustees (the "Board") for personal reasons.

"We are extremely grateful for David's contribution to the Board and for the instrumental role he has played with CAPREIT since he was appointed as a trustee in 2014. We wish him success in his future endeavours," said Michael Stein, Chair of CAPREIT.

About CAPREIT

As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 49,029 residential units, comprising of 42,578 residential suites and 31 manufactured home communities comprising 6,451 land lease sites located in and near major urban centres across Canada and The Netherlands. 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.

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.

SOURCE CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST (CAP REIT)

CAPREIT, Mr. Michael Stein, Chair, [phone]; CAPREIT, Mr. Scott Cryer, Chief Financial Officer, [phone]