TORONTO, June 21, 2022 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR-UN.TO) announced today that it has completed the sale of two properties in Scarborough, Ontario and two properties in Ottawa, Ontario totaling 793 apartment suites. The two portfolios were sold for total consideration of $200.1 million, well above current IFRS values. Existing mortgages on the sold properties totaling approximately $57.8 million were either repaid or assumed by the purchasers.
CAPREIT Continues to Generate Value for Unitholders and Communities Through Portfolio Repositioning
Globe Newswire -
Tue Jun 21, 2022
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