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

Add To Watchlist

TSX:CAR.UN - Post Discussion

Canadian Apartment Properties Real Estate Investment Trust > CAPREIT Announces Strategic Sale of MHC Portfolio for $740 M

View:

Post by Betteryear2 on Jul 15, 2024 7:33am

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)

202