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True North Apartment REIT to be Added To S&P/TSX Smallcap Index

Canadian Residential

/NOT FOR DISTRIBUTION IN THE U.S. OR OVER U.S. NEWSWIRES/

TORONTO, ONTARIO — September 17, 2014 — True North Apartment Real Estate Investment Trust (TSX: TN.UN; TN.DB) (the REIT”) today announced that its units will be added to the S&P/TSX SmallCap Index, effective after the close of trading on Friday, September 19, 2014, as a result of the annual review of the Index.

The addition of the REIT to the S&P/TSX SmallCap Index reflects the significant growth we have achieved since graduating to the Toronto Stock Exchange on May 3, 2013,” said Leslie Veiner, Chief Executive Officer of the REIT. Our strategy of building a geographically diverse portfolio of attractive, mid-market properties has gained traction with investors. We intend to build on our success to date by continuing to execute on the same proven strategy.”

About the REIT

The REIT is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT focuses on a long-term strategy to generate stable cash distributions on a tax-efficient basis for unitholders. The REIT intends to actively look for opportunities to expand its asset base and increase its distributable cash flow through acquisitions of additional multi-suite residential rental properties across Canada, the United States, and other jurisdictions where opportunities may arise.

For complete financial statements and management’s discussion and analysis for the period, and any other information relating to the REIT, please visit either www​.sedar​.com or the REIT’s website, www​.truenorthre​it​.com.

For further information:

Leslie Veiner
Chief Executive Officer
(416) 2348444

or

Martin Liddell
Chief Financial Officer
(416) 2348444