Pure Multi-Family REIT LP Announces Acquisition of 10% of Its Class A Units by Vision Capital Corporation

VANCOUVER, BC--(Marketwired - December 14, 2016) -

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Pure Multi-Family REIT LP ("Pure Multi-Family") (TSX VENTURE: RUF.U) (TSX VENTURE: RUF.UN) (TSX VENTURE: RUF.DB.U) (OTCQX: PMULF) announced today that Vision Capital Corporation ("Vision"), an investment fund manager and portfolio manager on behalf of its funds under management, has increased its investment in Pure Multi-Family by acquiring additional Class A Units (each, a "Unit") of Pure Multi-Family, resulting in its total investment in, and control over, 5,569,100 Units. Vision filed an Alternative Monthly Report pursuant to National Instrument 62-103 on SEDAR dated December 13, 2016.

Vision acquired the Units on behalf of the funds to which it provides investment advice and manages for investment purposes.

Vision is a Toronto-based investment fund manager and portfolio manager managing the Vision Opportunity Funds that focus on publicly-traded real estate securities. The Vision Opportunity Funds have been recognized by Morningstar, S&P/Capital IQ and at the Canadian Hedge Fund of the Year Awards as one of the top ten funds in Canada each year since Vision's inception in 2008.

Pure Multi-Family currently has 56,068,506 Units issued and outstanding.

About Pure Multi-Family REIT LP

Pure Multi is a Canadian based, publically traded vehicle which offers investors exclusive exposure to attractive, institutional quality U.S. multi-family real estate assets.

Additional information about Pure Multi is available at www.puremultifamily.com or www.sedar.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the policies of the TSX Venture Exchange) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.