CAPREIT Completes Netherlands Property Acquisition
Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR-UN.TO) announced today that it has completed the acquisition of a portfolio of twenty-one properties in six urban centres in the Netherlands totaling 511 residential suites for a purchase price of EUR98.0 million. The portfolio consists of 431 single family rental homes and 80 multi-family rental suites. The acquisition was funded by CAPREIT's Acquisition and Operating credit facility.
As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 52,039 residential units, comprising 45,446 residential suites and 32 manufactured home communities comprising 6,593 land lease sites located in and near major urban centres across Canada. For more information about CAPREIT, its business and its investment highlights, please refer to our website at www.caprent.com or www.capreit.net and our public disclosure, which can be found under our profile at www.sedar.com.
CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent CAPREIT's intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
For more information, please contact:
CAPREIT CAPREIT CAPREIT Mr. Michael Stein Mr. Mark Kenney Mr. Scott Cryer Chairman President & COO Chief Financial Officer (416) 861-5788 (416) 861-9404 (416) 861-5771