− REIT also Declares July 2016 Distribution −
TORONTO and DALLAS, July 15, 2016 /CNW/ - Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") will report its second quarter of 2016 financial results after market close on Thursday, August 11, 2016. Robert Landin, CEO, Steve Lamberti, COO, and Ryan Newberry, CFO, will host a conference call for the investment community the following day, Friday, August 12, 2016 at 12:00 p.m. (ET).
The call-in numbers for participants are 416-764-8688 or 888-390-0546. A live webcast of the call will be available on Milestone's website at www.milestonereit.com/investor-relations/events-presentations. The webcast will be archived following conclusion of the call.
A replay of the call will be available until Friday, August 19, 2016. To access the replay, dial 416-764-8677 or 888-390-0541 (Passcode: 585909).
July 2016 Distribution
The REIT has declared a cash distribution of US$0.04583 per REIT unit for the month of July, representing US$0.55 per REIT unit on an annualized basis. Payment will be made on August 15, 2016 to unitholders of record as at July 29, 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 72 multifamily garden-style residential properties, comprising 22,546 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. The REIT operates its portfolio through its internal property management company, Milestone Management, LLC, which has approximately 1,500 employees and manages more than 50,000 apartment units 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, Texas and New York, New York 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 approximately US$10 billion in multifamily transactions. For more information, please visit www.milestonegp.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/20160715_C5077_PHOTO_EN_734241.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