Minto Apartment REIT Completes the Sale of 150 Roehampton for $91 million

Minto Apartment REIT Completes the Sale of 150 Roehampton for $91 million

OTTAWA, ON, May 6, 2026 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) announced today the closing of its previously announced sale of the property located at 150 Roehampton in Toronto, Ontario. The property was sold for $90.75 million, representing a premium to the REIT's IFRS carrying value. Following the repayment of the associated mortgage and transaction costs, net proceeds of approximately $67 million are expected to be used, in part, to repay the REIT's variable-rate revolving credit facility, with the balance available for general trust purposes.

This transaction may result in a non-cash special distribution. While the amount of this special distribution (if any) is to be determined, the REIT anticipates that such amount would be consistent with the previous disclosure in the management information circular dated January 29, 2026. In addition, it is anticipated that any non-cash special distribution would be primarily in the form of a capital gain for Canadian income tax purposes.

About Minto Apartment Real Estate Investment Trust

Minto Apartment Real Estate Investment Trust 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 Canada. The REIT owns a portfolio of high-quality multi-residential rental properties located primarily in urban centers in Canada's major markets of Toronto, Montreal, Ottawa, Calgary and Vancouver. For more information on Minto Apartment REIT, please visit the REIT's website at www.mintoapartmentreit.com.

Forward-Looking Information

This news release may contain forward-looking information within the meaning of applicable securities legislation, which reflects the REIT's current expectations regarding future events and in some cases can be identified by such terms as "will", "may", "expected", and "anticipated". In particular, this news release contains forward-looking information in relation to the use of the proceeds from the transaction. Forward-looking information reflects management's current beliefs and is based on a number of assumptions that the REIT believes are reasonable and is subject to a number of risks and uncertainties, many of which are beyond the REIT's control that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risks and Uncertainties" in the REIT's Q4 2025 management discussion & analysis dated March 4, 2026 which is available on SEDAR+ (www.sedarplus.ca). Certain information in this press release may be considered as "financial outlook" within the meaning of applicable securities legislation. The purpose of this financial outlook is to provide readers with disclosure regarding the REIT's reasonable expectations with respect to the transaction. Readers are cautioned that the financial outlook may not be appropriate for other purposes. The REIT does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. This forward-looking information speaks only as of the date of this news release.

SOURCE Minto Apartment Real Estate Investment Trust