TSX:CAR.UN - Post by User
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Betteryear2on Mar 07, 2022 5:06pm
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CAPREIT Acquires Luxury Six-Building Québec Portfolio
CAPREIT Acquires Luxury Six-Building Québec Portfolio TORONTO, March 07, 2022 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has completed the purchase of a six-property luxury portfolio of modern, recently-constructed apartment buildings in Montral, Laval, Cte Saint-Luc and Saint Hyacinthe, Qubec. The portfolio totals 516 residential suites including 44 bachelor, 236 one-bedroom, 211 two-bedroom and 25 three-bedroom apartments as well as three commercial units. The properties, built between 2017 and 2021, were acquired for $281.0 million, funded by CAPREIT’s Acquisition and Operating Facility and the assumption of $55.5 million in mortgages with a weighted average interest rate of 2.75% and 6.5-year term to maturity.
CAPREIT Acquires Luxury Six-Building Qubec Portfolio