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TRANSGLOBE APARTMENT REIT ANNOUNCES INTRODUCTION OF DISTRIBUTION REINVESTMENT PLAN

^{Published on 2010-09-15 09:00:46 - Market Wire}
 

MISSISSAUGA, Sept. 15 /CNW/ - TransGlobe Apartment Real Estate Investment Trust (TSX: TGA.UN) (the "REIT") announced today that the Trustees of the REIT have approved and implemented a distribution reinvestment plan (the "DRIP") that takes effect with the distribution that is payable on October 15, 2010 to those unitholders of record on September 30, 2010 who enroll in the DRIP.  Participants in the DRIP will have their cash distributions used to purchase units of the REIT and will also receive a "bonus distribution" of units equal in value to 3% of each distribution.  The DRIP is available to holders of units who are residents of Canada and is not subject to a minimum unit holding requirement for eligibility.  Unitholders wishing to participate should contact their investment advisors to enroll in the DRIP. 

About TransGlobe Apartment Real Estate Investment Trust

TransGlobe Apartment REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT was initially formed to indirectly acquire 65 residential rental properties containing approximately 8,200 suites principally located in urban centres in Alberta, Ontario, Québec, New Brunswick and Nova Scotia that were previously owned or co-owned and operated by affiliates of TransGlobe Investment Management Ltd. ("TGIM"). TGIM and an affiliate administer and operate the assets of the REIT in order to support the REIT's external management structure.

This press release contains forward-looking statements which reflect the REIT's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements except as required by securities laws.