MINTO APARTMENT REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON EXPECTED CLOSING OF GOING-PRIVATE TRANSACTION WITH CRESTPOINT REAL ESTATE INVESTMENTS LIMITED PARTNERSHIP AND MINTO GROUP

MINTO APARTMENT REAL ESTATE INVESTMENT TRUST PROVIDES UPDATE ON EXPECTED CLOSING OF GOING-PRIVATE TRANSACTION WITH CRESTPOINT REAL ESTATE INVESTMENTS LIMITED PARTNERSHIP AND MINTO GROUP

OTTAWA, ON, Aug. 4, 2026 /CNW/ -- Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced that all closing conditions have been satisfied (other than conditions that by their nature are only capable of being satisfied on the effective date of the Transaction) with respect to the previously announced plan of arrangement (the "Arrangement") pursuant to which an affiliate of Crestpoint Real Estate Investments Limited Partnership will acquire 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. and its affiliates and certain senior officers, for $18.00 per Trust Unit in cash (the "Transaction"), in accordance with the arrangement agreement dated January 5, 2026, as amended by amending agreements dated March 2, 2026 and July 31, 2026 (the "Arrangement Agreement").

The effective date for the Transaction is expected to occur on August 6, 2026, subject to the satisfaction of the closing conditions that by their nature are only capable of being satisfied on the effective date of the Transaction. The Trust Units of the REIT are expected to be delisted from the Toronto Stock Exchange (the "TSX") at the close of trading on August 6, 2026.

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.

The REIT also announced that, as contemplated by the Arrangement Agreement, the REIT expects to pay a pro-rated distribution of $0.00719 per REIT unit, being a pro-rated distribution based on the number of days occurring from August 1, 2026 to and including August 5, 2026, to holders of Trust Units who are entitled to receive the consideration pursuant to the Transaction, which the REIT expects to be paid concurrently with the payment of the consideration under the Transaction. The REIT does not expect to pay any special non-cash distributions in connection with the closing of the Transaction.

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. 

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 proposed timing and completion of the Arrangement, the delisting of the Trust Units from the TSX and the timing thereof, the payment of distributions and the timing thereof, 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 occurrence of any event, change or other circumstance that could give rise to the termination of the Arrangement Agreement; material adverse changes in the business or affairs of the REIT; the risk that the Arrangement will not be completed on the terms and conditions, or on the timing, currently contemplated; the risk that the Trust Units may not be delisted from the TSX; the risk that the pro-rata distribution will not be paid; the risk that the Arrangement may not be completed at all, due to a failure to obtain or satisfy, in a timely manner or otherwise, the remaining conditions to closing of the Arrangement or for other reasons; any party's failure to consummate the Transaction when required or on the terms as originally negotiated; and other factors, many of which are beyond the control of the REIT. 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