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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 > CAPREIT Announces Strategic Sale of MHC Portfolio for $740 M
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Post by Betteryear2on Jul 15, 2024 7:33am
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Post# 36132536

CAPREIT Announces Strategic Sale of MHC Portfolio for $740 M

CAPREIT Announces Strategic Sale of MHC Portfolio for $740 M

This news release constitutes a “designated news release” for the purposes of CAPREIT’s prospectus supplement dated February 22, 2024, to its short form base shelf prospectus dated May 9, 2023.

TORONTO, July 15, 2024 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has entered into an agreement with an entity controlled by TPG Real Estate to sell its manufactured home community (“MHC”) portfolio for a gross purchase price of $740.0 million (excluding transaction costs). The unencumbered MHC portfolio is comprised of 12,138 residential lots spread across 75 community sites located throughout Canada.

CAPREIT Announces Strategic Sale of MHC Portfolio for $740 (globenewswire.com)

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