Skip to content
Logo
 
  • < Back to Caprent.com
AON Best Employer Winner
☰Investor Relations
  • IR Overview
  • Corporate Information
    • Officers and Board of Trustees
    • Committee Charting
    • Governance Documents
  • Unit Information
    • Unit Quote
    • Historic Prices
    • Distributions
    • DRIP
    • Total Return Calculator
  • Tax Information
    • Tax Filing Information
    • Tax Deferral Summary
  • Financial Information & Filings
    • Financial Statements
    • Quarterly and Annual Reports
    • Other Documents
    • SEDAR Filings
  • Property List
  • News & Market Information
    • Press Releases
    • Media
    • Investor Presentations
    • Investor Conference Calls
    • Analyst Coverage
  • Other Information
    • Email Notification
    • Information Request
    • FAQ
  • IR Site Map
IR Search
Press Release

CAPREIT Sells Non-Core Calgary Townhome Property

Company Release - 7/15/2020 5:00 PM ET

TORONTO, July 15, 2020 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has sold an affordable sector 188-suite townhome property located in Calgary, Alberta for $30.5 million. CAPREIT acquired the Queen’s Park Village Townhomes in December 2002.

“As a key component of our value enhancing strategies, we are constantly evaluating our entire asset base to ensure all our properties are generating strong and stable returns for our Unitholders,” commented Mark Kenney, President and CEO. “We believe we have maximized the value we could achieve with this non-core property. The proceeds from the sale will provide added liquidity, which can be better utilized in more accretive growth opportunities.”

ABOUT CAPREIT
CAPREIT is one of Canada's largest real estate investment trusts. CAPREIT owns approximately 56,600 suites, including townhomes and manufacturing housing sites, in Canada and indirectly through its investment in ERES, approximately 5,600 suites in the Netherlands. CAPREIT manages approximately 60,700 of its owned suites in Canada and Netherlands, and additionally, approximately 3,700 suites in Ireland. 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. Mark Kenney
President & CEO
(416) 861-9404		CAPREIT
Mr. Scott Cryer
Chief Financial Officer
(416) 861-5771


capreit.jpg

Source: Canadian Apartment Properties Real Estate Investment Trust
Copyright 2021, © S&P Global Market Intelligence  Terms of Use

TERMS AND CONDITIONS OF USE

The investor relations site ("Site") with which this document is associated is maintained by S&P Global Market Intelligence ("S&P") on behalf of the organization featured on the Site (S&P's "Client"). These Terms and Conditions of Use ("Terms of Use") set forth the terms on which you may use the Site, and the information and materials contained therein (the "Contents"). By using the Site, you agree to these Terms of Use. If you do not agree to these Terms of Use, you are not authorized to use the Site or Contents in any manner, and you should immediately discontinue any use of the Site or the Contents.

S&P and/or its Client shall have the right at any time to modify or discontinue any aspect of the Site or any part of the Contents. S&P may also modify these Terms of Use without notice. You agree to monitor these Terms of Use, and to cease all access or use of the Site if you no longer agree to abide by the Terms of Use. Your continued use of the Site shall constitute acceptance of such modification.

S&P and the Client grant to you a limited, personal license to access the Site and to access and download the Contents, but only for your own personal, family and household use. You may not use, reproduce, distribute or display any portion of the Site for any other purpose, including without limit any commercial purpose. You may use the Site and the Contents for lawful purposes only. S&P and Client reserve all rights not expressly granted, including the right to terminate your use of the Site without notice.

The Site contains copyrighted material, trademarks and service marks, and other proprietary information, including but not limited to text, software, and graphics, which materials are owned by S&P and/or its Client. S&P and Client reserve all rights in the Contents. You agree not to reproduce, distribute, sell, broadcast, publish, retransmit, disseminate, circulate or commercially exploit the Site or the Contents without the express written consent of S&P and the Client.

You agree to access the Contents and the Site manually, by request, and not automatically, through the use of a program, or other means. You agree not to take any action, alone or with others, that would interfere with the operation of the Site, to alter the Site in any way, or to impede others' access to and freedom to enjoy and use the Site as made available by S&P and S&P’s Client.

THE SITE AND THE CONTENTS ARE PROVIDED ON AN "AS IS" BASIS. S&P, ITS CLIENT, AND ANY OTHER PROVIDERS OF THE INFORMATION EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY WARRANTY OF ACCURACY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT.

NEITHER, S&P, THE CLIENT NOR EITHER OF THEIR AFFILIATES, SHAREHOLDERS, OFFICERS, EMPLOYEES, AGENTS OR REPRESENTATIVES SHALL BE LIABLE FOR ANY INDIRECT, INCIDENTAL, EXEMPLARY , PUNITIVE SPECIAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR RELATING TO THE SITE, THE USE OF OR INABILITY TO USE THE SITE, OR THE CONTENTS, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN PARTICULAR, S&P WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY YOUR RELIANCE ON INFORMATION OBTAINED THROUGH THE SITE.

It is your responsibility to evaluate the accuracy, completeness or usefulness of any of the Contents available on the Site. Please seek the advice of professionals regarding the evaluation of any of the information on the Site.

The Site does not represent an offer or solicitation with respect to the purchase or sale of any security.

These Terms of Use are the entire agreement between the parties with respect to its subject matter, and it can be amended only via written agreement by S&P. These terms and conditions shall be governed by the law of New York, without regard to principals of conflicts or choice of laws.
Logo
< Back to Caprent.com