Skip to main content

CAPREIT Expands Presence in Strong Montreal Market

TORONTO, May 31, 2021 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has completed the acquisition of a portfolio of five apartment buildings spread over two properties located in the west end of Montréal, Quebec aggregating 154 residential suites. CAPREIT paid approximately $30.6 million for the two properties, funded by cash and the assumption of an $18.0 million mortgage with an attractive 1.78% interest rate. Residential occupancy in the portfolio was 95.5% at closing. Both properties have undergone significant exterior and common area renovations, with 51% of the suites upgraded. Read More

from Financial Post https://ift.tt/3i3ta0U
Labels:

Comments

Post a Comment

Popular posts from this blog

With Trump’s WeChat ban approaching, here are several alternatives

Our mission to help you navigate the new normal is fueled by subscribers. To enjoy unlimited access to our journalism,  subscribe today . WeChat, China’s most popular app, faces an imminent ban in the U.S. , leaving many of its users in a bind. The White House said Friday it would prohibit WeChat , owned by Beijing-based Tencent, from appearing in U.S. app stores starting Sunday at midnight.  Though WeChat has a comparatively minor U.S. presence, it remains a major conduit for communications between Chinese nationals living abroad and their friends and family back home . The app has an average of 19 million million daily active users in the U.S. versus more than a billion worldwide.  WeChat, called Weixin in China, is effectively the operating system for people’s digital lives in China. They use it to pay for services, hail cabs, go shopping, read news, chat, and more. For people seeking to bridge the digital divide between the U.S. and China, WeChat is not easily re...
Post a Comment
Read more