Canadian Apartment (TSE:CAR.UN) has released an update.
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has divested its manufactured home community portfolio to TPG Real Estate for $740 million, intending to use the substantial proceeds to bolster its balance sheet and focus on core apartment real estate investments. The deal, which includes a vendor take-back loan and cash, aims to simplify CAPREIT’s operations and align resources to areas of competitive advantage.
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