TORONTO/DALLAS, March 19, 2013 /CNW/ - Milestone Apartments REIT (TSX: MST.UN) today announced that its initial monthly distribution for the stub period March 6, 2013 to March 31, 2013 will be C$0.04543 per unit. Payment will be made on April 15, 2013 to unitholders of record as at March 28, 2013. Milestone Apartments REIT intends to make subsequent monthly distributions in the estimated amount of C$0.05417 per unit commencing May 15, 2013, aggregating C$0.65 on an annual basis.
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.
This news release may contain forward-looking statements which reflect management's current expectations regarding future events. These forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. Milestone Apartments REIT disclaims any obligation to update these forward-looking statements.
SOURCE: Milestones Apartment Real Estate Investment Trust
For further information:
Robert P. Landin, CEO
Milestone Apartments REIT
Tel: 416.447.4740, x 232