Canadian Apartment Properties Real Estate Investment Trust T.CAR.UN

Alternate Symbol(s): CDPYF

Canadian Apartment Properties Real Estate Investment Trust is a Canada-based provider of rental housing. The Company owns and manages interests in multiunit residential rental properties, including apartments, townhomes and manufactured home communities (MHC), principally located in and near urban centers across Canada. The Company owns approximately 64,200 residential apartment suites, town homes and manufactured home community sites located across Canada and the Netherlands, with approximately $16.7 billion of investment properties in Canada and Europe. The Company’s objectives are to maintain a focus on maximizing occupancy and responsibly growing occupied average monthly rent (Occupied AMR) in accordance with local conditions in each of its markets; grow FFO per unit, sustainable distributions and NAV per unit by actively managing its properties; invest capital within the property portfolio and adopt edge technologies and solutions; and maintain financial management.

TSX:CAR.UN - Post by User

Canadian Apartment Properties Real Estate Investment Trust

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Post by MOJOJONOon Sep 17, 2019 10:53pm

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Post# 30138359

CAR.UN offloads Europe property to ERE.UN

Also, keeping it in the family - CAR.UN is offloading part of its European portfolio to ERE.UN for €164 million as part of the latter's acquisitions and picking up a piece of ERE.UN's aforementioned share offering.

ERES also announced the acquisition of a Netherlands multi-residential portfolio for approximately €164 million (the "Eagle Portfolio")...

ERES has agreed to acquire 942 residential suites in 18 properties located in seven urban centres in the Netherlands. The Eagle Portfolio is being purchased from Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN), pursuant to the previously announced pipeline agreement dated March 29, 2019 between ERES and CAPREIT Limited Partnership. The Eagle Portfolio is 97% occupied with a weighted average monthly rent of €763 per suite.

https://www.newswire.ca/news-releases/eres-reit-announces-offering-of-approximately-c-145mm-of-trust-units-and-eur227mm-netherlands-multi-residential-portfolio-acquisition-877587724.html

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