MINTO APARTMENT REAL ESTATE INVESTMENT TRUST ANNOUNCES CLOSING OF GOING-PRIVATE TRANSACTION WITH CRESTPOINT REAL ESTATE INVESTMENTS LIMITED PARTNERSHIP AND MINTO GROUP

OTTAWA, ON, Aug. 7, 2026 /CNW/ -- / CNW / – Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) is pleased to announce the closing of its previously announced plan of arrangement (the "Arrangement") pursuant to which an affiliate of Crestpoint Real Estate Investments Limited Partnership ("Crestpoint") acquired all of the REIT's issued and outstanding trust units (the "Trust Units"), other than Trust Units held directly or indirectly by Minto Properties Inc. ("Minto") and its affiliates and certain senior officers (the "Retained Interest Holders"), for $18.00 per Trust Unit in cash (the "Transaction").

In connection with the completion of the Transaction, the Trust Units were delisted from the Toronto Stock Exchange (the "TSX") at the close of trading on August 6, 2026. An application has been made for the REIT to cease to be a reporting issuer under applicable Canadian securities laws.

Consideration for the Trust Units has been remitted to TSX Trust Company as depositary under the Arrangement, and will be paid to former holders of Trust Units as soon as reasonably practicable after the date hereof (or, in the case of registered holders of Trust Units, as soon as reasonably practicable after a properly completed and signed letter of transmittal is received by the depositary together with the certificate(s) (if applicable) representing Trust Units formerly held).

Further details regarding the Arrangement are set out in the news release of the REIT dated January 5, 2026 and the REIT's management information circular dated January 29, 2026, each of which are available under the REIT's SEDAR+ profile at www.sedarplus.ca.

Early Warning Reporting

Further to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issuers, Minto Partnership B LP will file an amended early warning report and Crestpoint will file a new early warning report in connection with the closing of the Transaction.

The Transaction was completed pursuant to the terms of the arrangement agreement dated January 5, 2026 as amended by amending agreements dated March 2, 2026 and July 31, 2026 between the REIT, Minto Apartment GP Inc., Minto and Crestpoint.

Immediately before the completion of the Transaction, Minto Partnership B LP and its affiliates had ownership of, or exercised control or direction over: (i) 25,755,029 special voting units of the REIT issued in connection with the outstanding class B limited partnership units of Minto Apartment Limited Partnership (the "Partnership"), an Ontario limited partnership and the operating subsidiary of the REIT; and (ii) 896,459 Trust Units, collectively representing 42.7% of the total voting interest in the REIT. Following completion of the Transaction, Minto and its affiliates, including Minto Partnership B LP, collectively own limited partnership interests in the Partnership representing an approximate 49.3% ownership interest. A copy of the amended early warning report will be filed with the applicable securities commissions and will be made available under the REIT's SEDAR+ profile at www.sedarplus.ca. Further information and a copy of the amended early warning report of Minto Partnership B LP may be obtained by contacting: Paul Baron, Chief Financial Officer, Minto Group, [phone]. Minto Partnership B LP is an Ontario limited partnership and an indirect subsidiary of Minto. The head office address of Minto Partnership B LP and the REIT is 200-180 Kent Street, Ottawa, Ontario, K1P 0B6.

Immediately before the completion of the Transaction, Crestpoint Real Estate (Pine) Limited Partnership (the "Acquiror") did not have ownership of, or exercise control or direction over, any Trust Units. Following completion of the Transaction, the Acquiror owns limited partnership interests in the Partnership representing an approximate 50.06% ownership interest. A copy of the early warning report will be filed with the applicable securities commissions and will be made available under the REIT's SEDAR+ profile at www.sedarplus.ca. Further information and a copy of the early warning report of Acquiror may be obtained by contacting: Lindsay Stiles, Chief Operating Officer, Crestpoint, [phone]. The Acquiror, a limited partnership existing under the laws of the Province of Ontario, is an affiliate of Crestpoint. Crestpoint is an affiliate of Connor, Clark & Lunn Financial Group Ltd. The head office address of Acquiror is 130 King Street West, Suite 1400, Toronto, Ontario, M5X 1C8.

Minto, Crestpoint and the Retained Interest Holders have entered into certain post-closing governance arrangements with respect to the business and affairs of the Partnership and the REIT.

About Minto Apartment Real Estate Investment Trust

The REIT is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario to own income-producing multi-residential properties located in urban markets in Canada. The REIT owns a portfolio of high-quality income-producing multi-residential rental properties located in Toronto, Montreal, Ottawa, Calgary and Vancouver. For more information, please visit the REIT's website at: www.mintoapartmentreit.com.

About Crestpoint

Crestpoint Real Estate Investments Ltd. is an affiliate of Connor, Clark & Lunn Financial Group Ltd. ("CC&L"), a multi-boutique asset management firm whose affiliates collectively manage over $222 billion in assets for individuals, advisors and institutional investors. Established in 1982, CC&L has over 40 years of experience and has grown to be one of Canada's largest independently owned asset management firms with a presence across North America, Europe, and Asia. CC&L's strategies span across equities, fixed income, alternative investments, and multi-assets.

Crestpoint, established in 2010, focuses on commercial real estate and debt investments. Crestpoint collectively manages approximately $14 billion on behalf of institutional and high-net-worth clients and is a rapidly growing real estate investment and asset manager across Canada. Crestpoint's strategies span core plus real estate, opportunistic real estate, commercial debt investment and segregated funds and co-investments in all four major sectors in real estate.

About Minto Group

The Minto Group is a premier real estate firm in Canada with a fully integrated real estate investment, development and management platform. Founded in 1955, Minto has built more than 100,000 new homes and continues to own and manage residential and commercial rental properties. With over 1,300 employees in Canada and the United States, the company's expertise spans the full spectrum of real estate investment disciplines. Minto has been recognized by Deloitte as one of Canada's Best Managed Companies.

Forward-Looking Information

This press release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects", "is expected", "an opportunity exists", "budget", "scheduled", "estimates", "outlook", "forecasts", "projects", "projection", "prospects", "strategy", "intends", "anticipates", "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or, "will", "occur" or "be achieved", and similar words or the negative of these terms and similar terminology. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information.

Specifically, statements regarding the REIT ceasing to be a reporting issuer, the timing of the payment of the consideration and other statements that are not statements of historical facts are all considered to be forward-looking information.

Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances. This forward-looking information is based on our opinions, estimates and assumptions that, while considered by the REIT to be appropriate and reasonable as of the date of this press release, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the REIT's application to cease to be a reporting issuer under applicable Canadian securities laws may not be accepted or delayed; and the timing of the payment of consideration to holders of Trust Units. Additional factors and risks which may affect the REIT, its business and the achievement of the forward-looking statements contained herein are described under the heading "Risks and Uncertainties" in the REIT's management's discussion and analysis dated March 4, 2026, as well as in the REIT's other continuous disclosure filings. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying the forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in the forward-looking information. Although we have attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to us or that we presently believe are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information.

There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in forward-looking statements included herein. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, any forward-looking statements included herein are made as of the date of this news release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

All of the forward-looking information contained in this press release is expressly qualified by the foregoing cautionary statements.

SOURCE Minto Apartment Real Estate Investment Trust

For further information, please contact: Crestpoint Contact: Lindsay Stiles, Chief Operating Officer, Crestpoint, Tel: [phone]; Minto Group Contact: Paul Baron, Chief Financial Officer, Minto Group, Tel: [phone]