TSX:MRG.DB.B - Post by User
Post by
HermannHalleron Jun 22, 2022 5:36pm
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Post# 34775386
Residential buildings still in demand
Residential buildings still in demandIt doesn't show in the MRG.UN trading price, but the underlying market is pretty strong. CAP REIT just sold some similar buildings 'well above' book value.
TORONTO, June 21, 2022 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has completed the sale of two properties in Scarborough, Ontario and two properties in Ottawa, Ontario totaling 793 apartment suites. The two portfolios were sold for total consideration of $200.1 million, well above current IFRS values. Existing mortgages on the sold properties totaling approximately $57.8 million were either repaid or assumed by the purchasers.