CAPREIT Announces $101MM in New Strategic Transactions - Seite 2

“These transactions bring our total capital reallocation activity in 2023 to above $700 million worth of Canadian properties, and we’re thrilled to close out the calendar year on this exciting note,” commented Mark Kenney, President and Chief Executive Officer. “In keeping with our strategic plan and progress to date, this latest phase of portfolio rejuvenation has further enhanced the average age, geographic exposure, and quality of our overall investment portfolio, and we’re looking forward to maintaining this momentum as we head into the new year.”

“We reached our annual target in 2023 and disposed of over $400 million in non-core buildings, while concurrently reinvesting approximately $300 million into purpose-built rental properties recently constructed in Canada’s most attractive and fastest-growing regions,” added Julian Schonfeldt, Chief Investment Officer. “We’re especially pleased with our latest two premium acquisitions, strategically located in highly coveted BC communities where we also own other new build assets, allowing for operational synergies. In particular, we’re proud to have just purchased a brand-new concrete building, located beside one of the most important transit hubs in Vancouver, at a capitalization rate in excess of 4%. Acquiring this prime new property at a discount to what it would cost to build today, without incurring the development or lease-up risk, illustrates the essence of the CAPREIT 2.0 strategy.”

ABOUT CAPREIT
CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at September 30, 2023, CAPREIT owns approximately 64,500 residential apartment suites, townhomes and manufactured home community sites well-located across Canada and the Netherlands, with approximately $16.5 billion of investment properties in Canada and Europe. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedarplus.ca.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release constitute forward-looking statements within the meaning of applicable Canadian securities laws which reflect CAPREIT’s current expectations and projections about future results. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “consider”, “should”, “plans”, “predict”, “estimate”, “forward”, “potential”, “could”, “likely”, “approximately”, “scheduled”, “forecast”, “variation” or “continue”, or similar expressions suggesting future outcomes or events. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Any number of factors could cause actual results to differ materially from these forward-looking statements. Although CAPREIT believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements.