TORONTO AND DALLAS, Aug. 15, 2014 /CNW/ - Milestone Apartments Real
Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today
announced a cash distribution of C$0.05417 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 15, 2014 to unitholders of record as
of August 29, 2014.
Milestone is an unincorporated, open-ended real estate investment trust
that is governed by the laws of Ontario. The REIT's portfolio consists
of 57 multifamily garden-style residential properties, comprising
18,772 units that are located in 12 major metropolitan markets
throughout the Southeast and Southwest United States. Milestone is the
largest real estate investment trust listed on the TSX focused solely
on the United States multifamily sector. The REIT operates its
portfolio through its internal property management company, Milestone
Management, LLC, which has more than 900 employees across the United
States. Based in Dallas, TX, TMG Partners, L.P., an affiliate of The
Milestone Group, LLC, is the external asset manager of the REIT. For
more information, please visit www.milestonereit.com.
About The Milestone Group, LLC
The Milestone Group is a privately-held real estate investment
management company with expertise and presence in major metropolitan
markets throughout the United States. 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
For further information:
Robert Debs, Investor Relations
Milestone Apartments REIT
BMIR, Investor Relations
Tel: 416.447.4740, x 232