NEWS RELEASES

Milestone Apartments REIT Postpones Special Unitholder Meeting to March 28, 2017

DALLAS, TX, March 2, 2017 /CNW/ - Milestone Apartments Real Estate Investment Trust (TSX: MST.UN) ("Milestone" or the "REIT") today announced that the special meeting of unitholders to consider the proposed going private transaction of the REIT has been postponed to Tuesday, March 28, 2017 at 10:00 a.m. (Toronto time). As a result, the voting deadline has been extended to Friday, March 24, 2017 at 10:00 a.m. (Toronto time). The record date for the special meeting remains January 27, 2017, and the location remains the offices of Goodmans LLP, Bay Adelaide Centre, 333 Bay Street, Suite 3400, in Toronto, Ontario.

Unitholders are reminded to vote their proxies by 10:00 a.m. (Toronto time) on March 24, 2017.

If you have any questions, please contact Kingsdale Advisors at 1-866-851-3215 toll-free in North America, or 416-867-2272 outside North America or by email at contactus@kingsdaleadvisors.com.

About Milestone

The REIT is an unincorporated, open-ended real estate investment trust that is governed by the laws of Ontario. The REIT's portfolio consists of 78 multifamily garden-style residential properties, comprising 24,061 apartment units that are located in 16 major metropolitan markets throughout the Southeast and Southwest United States. The REIT is the largest real estate investment trust listed on the TSX focused solely on the United States multifamily sector. Milestone's vertically integrated platform employs more than 1,200 employees and manages more than 50,000 apartment units across the United States. For more information, please visit www.milestonereit.com.

Milestone Forward-Looking Information

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the REIT and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions.  They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. 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 these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements 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.

SOURCE Milestone Apartments REIT


For more information, please contact: Canada: Ian Robertson, Kingsdale Advisors, Executive Vice President, Communication Strategy, Direct: 416-867-2333, Cell: 647-621-2646, Email: irobertson@kingsdaleadvisors.com; United States: Matthew Sherman / Alyssa Cass, Joele Frank, Wilkinson Brimmer Katcher, Direct: 212-355-4449
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