Milestone Apartments REIT Announces August Distribution

TORONTO/DALLAS, Aug. 15, 2013 /CNW/ - Milestone Apartments REIT (TSX: MST.UN) today announced a cash distribution of C$0.054167 per REIT unit for the month of August, representing C$0.65 per REIT unit on an annualized basis. Payment will be made on September 16, 2013 to unitholders of record as at August 30, 2013.

About Milestone Apartments REIT
Milestone Apartments REIT is an unincorporated, open-ended real estate investment trust that is governed under the laws of Ontario. The REIT's portfolio consists of 54 multifamily garden-style residential properties, comprising 17,648 units that are located in 11 major metropolitan markets throughout the Southeast and Southwest United States. Milestone Apartments REIT is the largest REIT listed on the TSX focused solely on the U.S. multifamily sector. The REIT operates its portfolio through its internal property management company, Milestone Management, with more than 900 employees across the U.S. The Milestone Group, based in Dallas, Texas, is the external asset manager of the REIT. For more information, please visit www.milestonereit.com.

About The Milestone Group
The Milestone Group is a privately-held real estate investment management company with approximately US$2.5 billion of assets under management.  The firm has corporate offices in Dallas, TX and New York, NY with regional acquisition and management offices across the United States.  Founded in 2004, The Milestone Group has a strong track record of investing in the U.S. multifamily sector, including completion of more than US$4.5 billion in multifamily transactions.  For more information, please visit www.milestonegp.com.

SOURCE: Milestone Apartments REIT

Robert P. Landin, CEO 
Milestone Apartments REIT 
Tel: [phone]

Bruce Wigle 
Investor Relations 
Tel: [phone], x 232