TORONTO and DALLAS, Oct. 17, 2016 /CNW/ - Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today announced a cash distribution of US$0.04583 per REIT unit for the month of October 2016, representing US$0.55 per REIT unit on an annualized basis. Payment will be made on November 15, 2016 to unitholders of record as at October 31, 2016.
The REIT is an unincorporated, open-ended real estate investment trust that is governed by the laws of Ontario. The REIT's portfolio consists of 73 multifamily garden-style residential properties, comprising 22,821 apartment units that are located in 14 major metropolitan markets throughout the Southeast and Southwest United States. The REIT is the largest real estate investment trust listed on the TSX focused solely on the United States multifamily sector. Milestone's vertically integrated platform employs more than 1,200 employees and manages more than 50,000 apartment units across the United States. For more information, please visit www.milestonereit.com.
SOURCE Milestone Apartments REIT
Image with caption: "Milestone Apartments Real Estate Investment Trust (CNW Group/Milestone Apartments REIT)". Image available at: http://photos.newswire.ca/images/download/20161017_C8748_PHOTO_EN_797029.jpg
For further information: Robert Debs, Investor Relations, Milestone Apartments REIT, Tel: 214.561.1215; Bruce Wigle, Investor Relations, Bay Street Communications, Tel: 647.496.7856