TORONTO, March 31, 2021 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR) ("CAPREIT") announced today that IRES Fund Management Limited (the "Investment Manager"), a wholly-owned subsidiary of CAPREIT, today provided twelve (12) months' notice of termination of its management agreement (the "Management Agreement") with Irish Residential Properties REIT plc ("IRES REIT"), which will become effective March 31, 2022. Pursuant to the Management Agreement, the Investment Manager provides asset and property management services to IRES REIT.