CLEVELAND, Jan. 16, 2015 /PRNewswire/ -- Associated Estates Realty Corporation ("Associated Estates") (NYSE, NASDAQ: AEC) announced today the 2014 tax allocations of the dividends paid on the Company's common shares.

The classifications for 2014 are as follows:

Common Shares (NYSE, NASDAQ: AEC)

Cusip: 045604 10 5



                Record Date Payable Date       Ordinary Taxable Dividend    Return of           Total Capital Gain         Unrecaptured Section 1250 Gain       Cash Distribution Per Share

                                                                             Capital                                                    (a)
    ---                                                                      -------                                                    ---

                 01/15/14             02/03/14                    $0.118729           $0.000000                  $0.071271                            $0.017614                          $0.190000


                    ---

                 04/15/14             05/01/14                    $0.118729           $0.000000                  $0.071271                            $0.017614                          $0.190000


                    ---

                 07/15/14             08/01/14                    $0.118729           $0.000000                  $0.071271                            $0.017614                          $0.190000


                    ---

                 10/15/14             11/03/14                    $0.124978           $0.000000                  $0.075022                            $0.018541                          $0.200000


                    ---

                 12/30/14             01/30/15                    $0.114610           $0.000000                  $0.068799                            $0.017003                          $0.183409


                    ---

                  Totals                                          $0.595775           $0.000000                  $0.357634                            $0.088386                          $0.953409


                    ---

    Percentages                                                       62.5%               0.0%                     37.5%                                                                100.0%
    -----------                                                        ----                 ---                       ----                                                                  -----


    (a)               Represents additional characterization
                      amounts included in Total Capital
                      Gain.

Shareholders should be aware that the 2014 taxable dividend income includes only a portion ($0.183409 per share) of the $0.21 per share dividend to be paid on January 30, 2015. The remaining portion ($0.026591 per share) of the dividend to be paid on January 30, 2015, will be taxable to shareholders in 2015.

Please note that federal tax laws affect taxpayers differently, and the information in this release is not intended as advice to shareholders as to how dividends should be reported on their tax returns. Also, note that state and local taxation of real estate investment trust dividends varies and may not be the same as the taxation under federal rules. Associated Estates encourages shareholders to consult with their own tax advisors with respect to federal, state, and local income tax effects of these dividends.

Associated Estates is a real estate investment trust and is a member of the S&P 600, Russell 2000, and the MSCI US REIT Indices. The Company is headquartered in Richmond Heights, Ohio. Associated Estates' portfolio consists of 57 apartment communities containing 15,206 units located in 10 states, which include three committed acquisitions with 1,026 units that are being managed during lease-up and five apartment communities with 1,446 units in various stages of active development. For more information about the Company, please visit its website at AssociatedEstates.com.

For more information, please contact:

Jeremy Goldberg
(216) 797-8715

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SOURCE Associated Estates Realty Corporation