CHC Student Housing Completes Sale of Windsor Property

Toronto, Ontario--(Newsfile Corp. - August 22, 2017) - CHC Student Housing Corp. (TSXV: CHC) ("CHC" or the "Company") announces that it has completed the previously announced sale of its property located in Windsor, Ontario for gross proceeds of $5.5 million. Net proceeds to CHC from the sale are approximately $1.8 million, after assumption of mortgage debt by the purchaser in the amount of approximately $3.7 million, and will be used to satisfy certain payables and for working capital while the ongoing strategic review process by the Company's Special Committee continues.

About CHC Student Housing Corp.

CHC Student Housing Corp. is an owner and operator of student housing properties which is focused on high quality properties in close proximity to universities in primary and well understood secondary markets in Canada.

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Mark Hansen, President and Chief Executive Officer
CHC Student Housing Corp.
Telephone: (647) 288-9355
Email: mhansen@chcrealty.ca