Topic: How To Invest

Q: Hi. Any thoughts on Canadian Apartment Properties REIT would be appreciated. Thanks.

Article Excerpt

A: Canadian Apartment Properties REIT, $48.66, symbol CAR.UN on Toronto (Units outstanding: 145.9 million; Market cap: $7.1 billion; www.capreit.net), is a real estate investment trust that owns multi-unit residential properties, including apartment buildings and townhouses. Also known as CAPREIT, the trust’s holdings include manufactured-home communities, or trailer parks. The REIT is focused in Canada, but also holds properties in the Netherlands. CAPREIT now owns or has interests in 53,143 residential units. They comprise 45,446 residential suites and 45 manufactured-home communities, with 7,697 land lease sites: 25,254 suites and sites are located in Ontario, 9,999 suites in Québec, 5,050 in B.C., 3,351 in Alberta, 1,659 suites in Nova Scotia, 614 in Saskatchewan, 1,041 in Prince Edward Island, 2,316 sites in New Brunswick, and 3,859 suites in the Netherlands. The overall occupancy rate is a high 98.9%. The REIT continues to grow by acquisition. On February 26, 2019, CAPREIT paid 98.0 million euros ($146.6 million Cdn.) to acquire a portfolio of 21 properties in six urban…