Canadian Apartment (TSE:CAR.UN) has released an update.
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has successfully sold off $210.1 million worth of non-core property assets as part of its strategic plan. The sales include properties across Québec City, Cornwall, Toronto, and Newmarket, with the proceeds primarily being used to pay down the company’s revolving credit facility. This move is part of a larger effort by CAPREIT to divest over $1.1 billion in off-strategy assets in 2024, aiming to improve the quality of its portfolio.
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