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Real Estate

CAPREIT To Purchase Prestige Montreal Apartment Property

by marketwired.com posted 1year ago 262 views
TORONTO, ONTARIO--(Marketwired - Feb. 16, 2017) - Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR.UN) announced today that it has waived conditions and will acquire a luxury 256-suite residential apartment property located in the affluent CĂ´te-Saint-Luc neighbourhood in the Greater MontrĂŠal Area. The property is well-located within walking distance of a high-end shopping centre, hospital, community centre and public library. The purchase price, to be initially financed in cash from the CAPREIT's Acquisition and Operating credit facility, is $23.5 million, generating a very strong going-in capitalization rate of approximately 6.51% and a price per suite of approximately $92,000, well...