Key Takeaways:
- Canadian Apartment Properties REIT (CAPREIT) has acquired six new properties since November 6, investing $292.5 million in the process.
- The acquisitions include a 436-apartment complex in Greater Montreal and 187 residential units in Regina.
- CAPREIT has invested a total of $659 million in new properties in 2025, with a focus on strategic and high-quality assets.
- The company has also deployed $94 million into its normal course issuer bid (NCIB) program since the end of Q3 2025.
- CAPREIT’s portfolio now includes approximately 45,000 residential apartment suites and townhomes across Canada and the Netherlands.
Introduction to CAPREIT’s Acquisition Spree
Canadian Apartment Properties REIT (CAPREIT) has been on a holiday season buying spree, adding six new properties to its portfolio since November 6. The company has invested a total of $292.5 million in these acquisitions, which include a 436-apartment complex in Greater Montreal and 187 residential units in Regina. This brings CAPREIT’s total investment in new properties for 2025 to $659 million, with a focus on strategic and high-quality assets. According to Mark Kenney, CAPREIT’s president and CEO, these transactions have further strengthened the quality and cash-flow performance of the company’s irreplaceable rental apartment portfolio in Canada.
The Market Acquisition in Laval
One of the most significant acquisitions made by CAPREIT is the purchase of a newly built rental property in Laval, Greater Montreal. The two-building complex, known as Market, contains 436 apartments with large layouts and a range of amenities. The property was purchased for $178 million, with CAPREIT assuming a $29.5-million mortgage at an annual rate of 3.3 per cent and a remaining term of just over seven years. Market is located within walking distance to Marché 440 public market and the CF Carrefour Laval shopping centre, making it a highly desirable location for residents. The property’s proximity to highways 15 and 440, as well as the Montmorency Metro station, also makes it an attractive option for commuters.
Regina Acquisition and Other Purchases
In addition to the Market acquisition, CAPREIT also closed on the purchase of a portfolio in Regina, which includes 187 residential units. The three buildings were acquired for $41 million, with CAPREIT assuming a $17.6-million mortgage. The company has also completed the purchase of a 51-suite property in Vancouver, known as Arla Manor, for $35 million. Furthermore, CAPREIT has acquired three "vintage" properties in British Columbia, including a 35-suite building in Mount Pleasant, East Vancouver, and two properties in the James Bay area of Victoria. These acquisitions demonstrate CAPREIT’s commitment to expanding its portfolio and providing high-quality rental housing options to residents across Canada.
CAPREIT’s NCIB Update and Portfolio
CAPREIT has also announced that it has deployed approximately $94 million into its normal course issuer bid (NCIB) program since the end of Q3 2025. This program allows the company to purchase its own shares at what it considers attractive prices. According to Julian Schonfeldt, CAPREIT’s chief investment officer, the company has purchased shares at a mid-five per cent cap rate, which is a highly attractive rate. As of September 30, CAPREIT owned approximately 45,000 residential apartment suites and townhomes across Canada and the Netherlands, with a fair value of approximately $14.5 billion. The company has been actively divesting its holdings in the Netherlands in recent months, including winding up operations of its subsidiary ERES REIT.
Conclusion and Future Outlook
In conclusion, CAPREIT’s recent acquisitions and investments demonstrate the company’s commitment to expanding its portfolio and providing high-quality rental housing options to residents across Canada. With a focus on strategic and high-quality assets, CAPREIT is well-positioned for future growth and success. As the company continues to navigate the Canadian real estate market, it is likely that we will see further acquisitions and investments in the coming months. With its strong portfolio and commitment to excellence, CAPREIT is an industry leader in the Canadian rental housing market.