Bullboard - Stock Discussion Forum 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... see more

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Canadian Apartment Properties Real Estate Investment Trust > CAPREIT Acquires Luxury Six-Building Québec Portfolio

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Post by Betteryear2 on Mar 07, 2022 5:06pm

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

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