CAPREIT adds $292.5-million of rental properties

Executive Summary

• CAPREIT has closed on the acquisition of six strategically aligned rental properties across Canada for a combined gross consideration of $292.5 million.
• The acquisitions include newly built properties in Laval, Quebec; Regina, Saskatchewan; and Vancouver, British Columbia, as well as three vintage properties in British Columbia.
• In addition to acquisitions, CAPREIT has deployed approximately $94.0 million into its Normal Course Issuer Bid (NCIB) program since the end of the third quarter of 2025.

Key Details

• Total Acquisition Volume: $292.5 million in gross consideration for six properties.
• Laval, Quebec Acquisition:
  • Asset: Newly built two-building complex (constructed 2020 and 2023) with 436 residential suites.
  • Purchase Price: $178.0 million.
  • Financing: Assumed $29.5 million mortgage at 3.3% interest, maturing in ~7.2 years.
• Regina, Saskatchewan Acquisition:
  • Asset: Portfolio of three recently constructed buildings (built 2012–2015) comprising 187 residential suites.
  • Purchase Price: $41.0 million.
  • Financing: Assumed $17.6 million mortgage at a weighted average rate of 2.9%, maturing in ~3.8 years.
• Vancouver, British Columbia Acquisition:
  • Asset: Newly built property (constructed 2024) with 51 suites.
  • Purchase Price: $35.0 million.
  • Financing: Assumed $27.2 million mortgage at 3.2% interest, maturing in ~5.0 years.
• British Columbia Vintage Properties:
  • Assets: Three well-maintained, low-rise vintage properties (35 suites in Mount Pleasant, Vancouver; 98 suites in James Bay, Victoria).
  • Purchase Price: $38.5 million combined.
  • Financing: Assumed $12.6 million aggregate mortgage at a weighted average rate of 2.1%, maturing in ~4.1 years.
• NCIB Program:
  • Amount Deployed: ~$94.0 million since the end of Q3 2025.
  • Cap Rate: Mid-5% cap rate on repurchased units.
• 2025 Year-to-Date Context: These transactions bring total 2025 acquisition volume to $659 million.
• Portfolio Metrics: Weighted average cap rate on latest acquisitions is in the high-4% range.

Notable Quotes

• "These transactions bring our 2025 acquisition volume to a total of $659-million in highly strategic, primely located assets, which come with low capital requirements and strong return profiles... This ongoing transformation is further strengthening the quality and cash flow performance of our irreplaceable rental apartment portfolio in Canada." — Mark Kenney, President and CEO
• "These latest acquisitions were purchased at a high-4-per-cent weighted average cap rate, with relatively attractive capex characteristics... we've deployed capital into our NCIB program at a mid-5-per-cent cap rate, with $94-million invested since the end of Q3 2025." — Julian Schonfeldt, Chief Investment Officer