Canadian Apartment Properties Real Estate Investment Trust of Toronto, Ontario announced today that CAP REIT has completed its previously announced conversion from a "closed-end" investment trust to an "open-end" trust.
Unitholders granted the trustees the authority to convert from a closed-end trust to an "open end" trust, if and when they considered it desirable, at the annual and special meeting of the REIT's Unitholders on May 26, 2005. The trustees have determined that the implementation of the conversion is in the best interests of Unitholder
