MHC Match Capital Resources Corp

Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT")
(TSX:CAR.UN) announced today that it has sold five apartment buildings
containing 438 suites located in Mississauga, Oakville and Toronto, Ontario. The
aggregate sale price is approximately $60.7 million, generating a strong return
for CAPREIT on these assets. The purchaser assumed mortgages totalling
approximately $29.0 million with the balance of the proceeds going towards
reducing the Bridge Loan.


About CAPREIT

CAPREIT is a growth-oriented investment trust owning interests in multi-unit
residential rental properties, including apartments, townhomes and manufactured
home communities located in and near major urban centres across Canada. CAPREIT
owns interests in 36,245 residential units, comprised of 32,875 residential
suites and 14 manufactured home communities ("MHC") comprising 3,370 land lease
sites. 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.


CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

All statements in this press release that do not relate to historical facts
constitute forward-looking statements. These statements represent CAPREIT's
intentions, plans, expectations and beliefs and are subject to certain risks and
uncertainties that could result in actual results differing materially from
these forward-looking statements. These risks and uncertainties are more fully
described in regulatory filings that can be obtained on SEDAR at www.sedar.com.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Apartment Properties Real Estate Investment Trust
Mr. Michael Stein
Chairman
(416) 861-5788


Canadian Apartment Properties Real Estate Investment Trust
Mr. Thomas Schwartz
President & CEO
(416) 861-9404


Canadian Apartment Properties Real Estate Investment Trust
Mr. Scott Cryer
Chief Financial Officer
(416) 861-5771

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