Milestone Apartments REIT Announces May Distribution

TORONTO AND DALLAS, May 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 May, representing C$0.65 per REIT unit on an annualized basis. Payment will be made on June 17, 2013 to unitholders of record as at May 31, 2013.

About Milestone Apartments REIT
Milestone Apartments REIT (the REIT) is an unincorporated, open-ended real estate investment trust that is governed under the laws of Ontario. The REIT's portfolio is made up of 52 multifamily garden-style residential properties, comprising 16,944 units that are located in 10 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 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 expertise and presence in major metropolitan markets throughout 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.

SOURCE: Milestone Apartments REIT

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

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