CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST ANNOUNCES CLOSING OF PARTIAL EXERCISE OF OVER-ALLOTMENT OPTION

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[{"type":"text","content":"\n\n\n\n Dec. 23, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES\n\n\nTORONTO, Dec. 23 /CNW/ - Canadian Apartment Properties Real Estate\n Investment Trust (TSX:CAR.UN) ("CAPREIT") announced today that it has\n successfully closed the issuance of an additional 350,000 units at\n $17.30 per unit for gross proceeds of approximately $6.1 million,\n pursuant to the partial exercise of the over-allotment option granted\n to the underwriters led by RBC Capital Markets in connection with the\n recent unit offering that closed on December 10, 2010 (the "Offering")\n on the same terms as the Offering. Gross proceeds from the unit\n offering of 7,250,000 units and the partial exercise of the\n over-allotment option total approximately $131.5 million.\n\n\nAs one of Canada's largest residential landlords, CAPREIT is a\n growth-oriented investment trust owning interests in 27,172 residential\n suites and two manufactured home communities comprising 1,325 land\n lease sites located in and near major urban centres across Canada.\n Since its Initial Public Offering in May 1997, CAPREIT has grown\n monthly distributions per unit by 51%. For more information about\n CAPREIT, its business and its investment highlights, please refer to\n our public disclosure which can be found under our profile at www.sedar.com.\n\n\nAll statements in this press release that do not relate to historical\n facts cons...

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