CAPREIT Announces May 2011 Distribution

TORONTO, ONTARIO--(Marketwire - May 17, 2011) - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today its May 2011 monthly distribution in the amount of $0.09 per Unit. The May distribution will be payable on June 15, 2011 to Unitholders of record on May 31, 2011.

To encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.

As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 27,607 residential suites and two manufactured home communities comprising 1,325 land lease sites located in and near major urban centres across Canada. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 51%. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.