TORONTO, Dec. 05, 2018 (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 seven properties in five urban centres in the Netherlands totaling 376 residential suites. The portfolio consists of 294 single family rental homes and 82 multi-family rental suites, with the purchase price of €60.0 million.
The purchase was funded by CAPREIT's Acquisition and Operating credit facility. CAPREIT intends to place new local financings in the Netherlands prior to December 31, 2018.
ABOUT CAPREIT
As one of Canada's largest residential landlords, CAPREIT is a growth-oriented investment trust owning interests in 51,743 residential units, comprising 45,151 residential suites and 32 manufactured home communities comprising 6,592 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 Mr. Michael Stein Chairman (416) 861-5788 | CAPREIT Mr. David Ehrlich Chief Executive Officer (416) 861-9404 | CAPREIT Mr. Mark Kenney President & COO (416) 861-2468 | CAPREIT Mr. Scott Cryer Chief Financial Officer (416) 861-5771 |