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CAPREIT Acquires Six Luxury Quebec Portfolios, Canadian Business Journal

Toronto, March 7, 2022 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) today said it has completed the purchase of a modern and recent luxury portfolio of six properties. Announced. We have built apartments in Montreal, Laval, Côte Saint-Luc, Saint-Hyacinthe and Quebec. The portfolio consists of a total of 516 residential suites, including 44 bachelors, 236 1 bedrooms, 211 2 bedrooms, 25 3 bedroom apartments, and 3 commercial units. Real estate built between 2017 and 2021 will be funded by CAPREIT acquisition and operating facilities, with a weighted average interest rate of 2.75% and a 6.5-year mortgage of $ 55.5 million. And it was acquired for $ 281 million.

Suite sizes range from 687 sq ft to 1,056 sq ft and include a modern design with an open concept kitchen, quartz countertops, stainless steel appliances and a private terrace. Residential facilities include a gym, an outdoor pool terrace, and a rooftop patio. Accommodation is close to shopping, transit, parks, recreational facilities and schools. There are currently active lease-up programs for these properties.

Mark Kenny, President and CEO, said: “In addition, new energy-efficient heating, air conditioning, lighting systems, low-flow bathroom equipment, electric vehicle charging stations, and resident self-measurement all improve environmental performance and long-term sustainability. We have achieved our goals. “

Acquisition of VICTORI ABC
CAPREIT also announced today on February 25, 2022 that it has acquired a 24-room suite apartment in Victoria, British Columbia for approximately $ 7.2 million in cash. The property is 100% occupied and is located in the James Bay district near downtown Victoria, with easy access to local attractions such as shopping, libraries, the British Columbia State Museum and the British Columbia State Capitol.

About CAPREIT
CAPREIT is Canada’s largest publicly traded company offering high quality rental housing. CAPREIT currently owns or owns approximately 67,000 residential apartment suites, town homes and manufactured residential community sites throughout Canada and the Netherlands, and manages approximately $ 17 billion in assets worldwide. .. For more information on CAPREIT, its business and investment highlights, please visit our website at www.capreit.ca and the public information on our profile (www.sedar.com).

Precautions regarding forward-looking statements
All non-historical statements contained in this press release constitute forward-looking statements. These statements represent CAPLEIT’s intentions, plans, expectations and beliefs and the impact of certain risks and uncertainties that may have actual consequences that differ materially from those forward-looking statements. receive. These risks and uncertainties are described in detail in the regulatory filings available at SEDAR at www.sedar.com.

For more information, please contact:

CAPREIT
Michael Stein
Chairman
(416) 861-5788
CAPREIT
Mark Kenny
President and CEO
(416) 861-9404


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CAPREIT Acquires Six Luxury Quebec Portfolios, Canadian Business Journal

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