True North Apartment REIT Corrects Inadvertent Error in Previously Filed Business Acquisition Report

/Not for distribution in the U.S. or over U.S. Newswires/

TORONTO, May 13, 2013 /CNW/ - True North Apartment Real Estate Investment Trust (the "REIT") (TSX: TN.UN) announced today that is filing an amended and restated business acquisition report (the "Revised BAR") relating to the acquisition of a portfolio of 17 residential properties on February 20, 2013. The Revised BAR amends and restates the business acquisition report that was originally filed on May 6, 2013, which inadvertently omitted certain information that was previously disclosed in connection with the REIT's short form prospectus dated and filed January 21, 2013. The Revised BAR is accessible under the REIT's profile on www.SEDAR.com. and is marked "Business Acquisition Report."

About the REIT
The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario.

The REIT focuses on a long-term strategy to generate stable cash distributions on a tax-efficient basis for unitholders. The REIT intends to actively look for opportunities to expand its asset base and increase its distributable cash flow through acquisitions of additional multi-suite residential rental properties across Canada, the United States and other jurisdictions where opportunities may arise. Additional information concerning the REIT is available at www.sedar.com.

SOURCE: True North Apartment Real Estate Investment Trust

Leslie Veiner
Chief Executive Officer
[phone]

or

Martin Liddell
Chief Financial Officer
[phone]