BSR REAL ESTATE INVESTMENT TRUST ANNOUNCES APPOINTMENT OF TWO TRUSTEES TO THE BOARD

LITTLE ROCK, Ark and TORONTO, January 1, 2022 / CNW / – The BSR Real Estate Investment Trust (“BSR” or the “REIT”) (TSX: HOM.U) (TSX: HOM.UN) is pleased to announce that starting today Daniel Oberste and Teresa Neto were each appointed to the board of trustees of the REIT (the “board of directors”) to act as trustees until the next annual general meeting of shareholders of the REIT or until a successor is appointed.

As already announced, Daniel Oberste has been promoted to Chief Executive Officer of the REIT in addition to President & Chief Investment Officer and will serve on the Board as a non-independent trustee.

Teresa Neto is Chief Financial Officer of the Granite Real Estate Investment Trust and will serve on the Board as an independent trustee. She was also appointed to the REIT Audit Committee.

In addition, as previously announced, John S. Bailey has been appointed Vice Chairman of the Board of Directors.

“On behalf of the Board of Trustees, the REIT management team and all REIT shareholders, I would like to extend a warm welcome to Daniel and Teresa John S. Bailey, Deputy Chairman. “We have no doubt that both Daniel and Teresa will bring valuable experience and perspective to the board, with Daniel’s successful track record leading the REIT’s investment strategy and Teresa’s longstanding experience with Canadian public REITs.”

BSR’s board of directors provides critical guidance and advice to management, and the REIT has committed itself to a board of directors with diverse perspectives and backgrounds. Today’s appointments increase the board from seven to nine members and add new skills and core competencies to the existing board.

ABOUT BSR REAL ESTATE INVESTMENT TRUST

BSR Real Estate Investment Trust is an internally managed, unregistered, open type real estate investment trust established under a deed of trust under the laws of the province Ontario. The REIT owns a portfolio of 31 garden-style multi-family homes with 8,666 units in three contiguous states in the Sunbelt region of The United States.

Further information on the REIT can be found at www.bsrreit.com or www.sedar.com.

SOURCE BSR Real Estate Investment Trust

For more information: Susan Koehn, Chief Financial Officer, BSR Real Estate Investment Trust, Tel: 501.371.6335, Fax: 501.374.3383

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