Canadian Apartment (TSE:CAR.UN) has released an update.
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has fully divested its equity interest in Irish Residential Properties REIT plc (IRES), selling its remaining shares for a total of $139 million. The proceeds will go towards repaying the company’s Canadian credit facility, repurchasing CAPREIT units, acquiring new properties, and for general business purposes. This strategic move allows CAPREIT to focus on its core business of providing high-quality rental apartments in Canada.
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