Minto Apartment REIT Reports Voting Results from Annual and Special Meeting of Unitholders

OTTAWA, May 27, 2020 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today announced the results of voting at its Annual and Special Meeting of Unitholders held on May 27, 2020 (the "Meeting"). All of the nominees listed in the management information circular prepared in connection with the Meeting were elected as trustees of the REIT. The voting results are as follows:

In addition:

• KPMG LLP was appointed as the auditor of the REIT for the 2020 fiscal year;
• Unitholders voted to increase the maximum aggregate value of the investments of the REIT in properties under development from 10% to 20% of the REIT's gross book value; and
• Unitholders voted to increase the maximum aggregate book value of the investments of the REIT in mortgages and similar instruments from 15% to 20% of the REIT's gross book value.

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 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 Edmonton. For more information on Minto Apartment REIT, please visit the REIT's website at: www.mintoapartments.com.

SOURCE Minto Apartment Real Estate Investment Trust