Wikipedia

CAPREIT: Difference between revisions

Browse history interactively
← Previous edit
Content deleted Content added
VisualWikitext
SugarSyrup (talk | contribs)
142 edits
No edit summary
Rescuing 13 sources and tagging 0 as dead.) #IABot (v2.0.9.5) (Eastmain - 16078
 
(26 intermediate revisions by 12 users not shown)
Line 1:
{{Short description|Canadian real estate investment trust}}
{{Infobox company
| name = Canadian Apartment Properties REIT
| logo = Capreit logoCapreit_Primary_Lockup_Indigo_RGB.svg
| logo_size = 160px300px
| type = [[Public company|Public]] ([[REIT]])
| traded_as = {{TSX|CAR.UN}}<br /> [[S&P/TSX 60|S&P/TSX 60 component]]
| foundation = {{Start date|1997|05|2421}}<!-- this parameter modifies "Founded" -->▼
| genre =
▲| foundation = {{Start date|1997|05|24}}<!-- this parameter modifies "Founded" -->
| founder = Thomas Schwartz
| location_city = [[Toronto, Ontario]]
| location_country = [[Canada]]
| key_people = [[Gina Cody|Dr. Gina P. Cody]] ([[Chair of the Board]])<ref name="annual2021"/><br/>Mark Kenney (President & [[CEO]])<ref name="annual2021"/>
| key_people = '''Mark Kenney''' <small>President & CEO</small><br />'''Scott Cryer''' <small>CFO</small><br />'''Corinne Pruzanski''' <small>General Counsel and Corporate Secretary</small><br />'''Jodi Lieberman'''<small>Chief People, Culture and Brand Officer</small>
| industry = [[REITReal Estate]]<br />
| services =
| products = [[Apartment]]<br>[[Real estate]]<br>[[Trailer park]]<br />[[Commercial Real Estate]]<br/>[[Town home]]
| revenue = {{increase}} [[Can$]]933.1 million (2021)<ref name="annual2021"/>
| revenue = C$778 mil <small>2019{{increase}}17%<ref name=ninereport>{{cite web|url=https://ca.finance.yahoo.com/news/capreit-reports-continued-growth-strong-234938152.html|title=CAPREIT financials|year=2019}}</ref></small>
| net_income = C$1195 mil <small>2019{{decreaseincrease}}7% Can$1.4 billion (2021)<ref name=ninereport/><"annual2021"/small>
| operating_income = C$508 mil <small>2018 {{increase}}15% Can$535.2 million (2021)<ref name=ninereport/><"annual2021"/small>
| assets = C{{increase}} Can$14,01817.7 milbillion <small>(Dec'192021)<ref name=ninereport"annual2021"/></small>{{increase}}40%
| equity = C{{increase}} Can$840410.4 milbillion <small>(Dec'192021)<ref name=ninereport"annual2021"/></small>{{increase}}33%
| divisions = ERES<br>ERESM
| num_employees = 28,500
| homepage = {{URL|www.caprentcapreit.comca}}
}}
'''Canadian Apartment Properties ReitREIT''' ('''CAPREIT''') is ana apartmentCanadian [[real estate investment trust]] headquartered in [[Toronto, Ontario]], Canada. CAPREIT is the largest ofpublicly itstraded kindapartment landlord in Canada, with over $17.7 billion in assets, as of December 2021.<ref name="annual2021">{{cite web |url=https://wwws25.costarq4cdn.com/article722916301/50657071files/canada%E2%80%99s-largest-publicly-traded-apartment-landlord-picks-updoc_financials/2021/ar/2021-509Annual-suitesReport.pdf |title=LargestCAPREIT publiclyAnnual tradedReport apartment2021 landlord|date=2022-02-23 picks|publisher=CAPREIT up|access-date=2022-08-24 509 suites|archive-date=November2022-07-12 11, 2020|archive-url=https://web.archive.org/web/20220712004612/https://s25.q4cdn.com/722916301/files/doc_financials/2021/ar/2021-Annual-Report.pdf |publisherurl-status=costarlive }}</ref> As of 20212022, CAPREIT currently owns or has interests in approximately 7067,000 residential apartment suitesapartments, townhomes and [[manufactured housing]] community sites well-locatedunits across [[Canada]], in [[the Netherlands]] and Ireland with approximately $18 billion[[Republic of assets under management globallyIreland|Ireland]].<ref name="annual2021"/>
 
CAPREIT financialized the trailer park concept beginning with an acquisition in 2007 which grew to 6,456 “manufactured home community” (MHC) suites by 2017. <ref name=journalurbanaffairs>{{cite web|url=http://www.waterlooregion.org/sites/default/files/August2020.pdf|title= The financialization of Canadian multi-family rental housing: From trailer to tower |publisher=Journal of Urban Affairs|date=February 28, 2020}}</ref><ref>{{cite webpress release|url=https://www.globenewswire.com/news-release/2012/06/01/1397652/0/en/CAPREIT-Acquires-Major-Manufactured-Home-Communities-Portfolio.html|title=CAPREIT acquires major manufactured home communities portfolio|date=June 1, 2012|access-date=December 23, 2020|websitearchive-date=October 22, 2023|archive-url=https://web.archive.org/web/20231022064144/https://www.globenewswire.com /news-release/2012/06/01/1397652/0/en/CAPREIT-Acquires-Major-Manufactured-Home-Communities-Portfolio.html|url-status=live}}</ref>▼
Paid $500 million in 2004 to acquire smaller rival Residential Equities Real Estate Investment Trust. <ref>{{cite news |url=https://www.theglobeandmail.com/report-on-business/reit-merger-may-signal-new-era-of-consolidation/article18262628/|title=REIT merger may signal new era of consolidation|newspaper=The Globe and Mail |date=March 31, 2004 |newspaperlast1=[[TheChurch Globe and Mail]]|first1=Elizabeth }}</ref> Residential Equities Real Estate Investment Trust. At the time of the merger the company had 24,238 rental apartments and townhouse units across the country.<ref>{{cite news web|url=https://www.cbc.ca/news/business/reits-in-1-billion-merger-1.510480|title=REITsreits in 1 Billionbillion Dollardollar Mergermerger|date=2004 |publisheraccess-date=2020-12-23|archive-date=2023-11-09|archive-url=https://web.archive.org/web/20231109184434/https://www.cbc.ca /news/business/reits-in-1-billion-merger-1.510480|url-status=live}}</ref>▼
It became associated with Montreal Olympic Village in 2012.<ref>{{cite web|url=https://en.globes.co.il/en/article-1000795267|title=Tshuva's Elad sells Montreal's Olympic Village|date=2012 |publisheraccess-date=2020-12-27|archive-date=2023-11-09|archive-url=https://web.archive.org/web/20231109184324/https://en.globes.co.il /en/article-1000795267|url-status=live}}</ref>▼
In 2019 the company spun-off 2000 rental units in the Netherlands, into a separate European-focused [[REIT]] (Canada's first).[https://www.globenewswire.com/news-release/2020/02/25/1990551/0/en/European-Residential-REIT-Announces-Year-End-2019-Results.html]
*CAPREIT was added to the TSX 60 index on June 22, 2020.
 
==History==
In 1996, Thomas Schwartz partnered with Michael Stein to establish CAPREITCanadian Apartment Properties REIT, which became one of Canada's largest residential landlords, which owns interests in almost 49,000 residential units in Canada and the Netherlands.<ref>{{cite web |url=https://www.cjnews.com/news/canada/real-estate-moguls-death-loss-jewish-community |title=Real Estate MogulsMogul's Death Loss to Jewish Community |date=August 30, 2017 |publisher=cjnews.com |access-date=December 23, 2020 |archive-date=November 16, 2018 |archive-url=https://web.archive.org/web/20181116073433/http://www.cjnews.com/news/canada/real-estate-moguls-death-loss-jewish-community |url-status=live }}</ref> CAPREIT went public with an [[initial public offering]] in 1997.
 
Canadian Apartment Properties [[REIT]] went public with an [[initial public offering|ipo]] in 1997.
In 2004, CAPREIT acquired rival Residential Equities REIT for $500 million.<ref>{{cite news|url=https://www.theglobeandmail.com/report-on-business/reit-merger-may-signal-new-era-of-consolidation/article18262628/|title=REIT merger may signal new era of consolidation|date=March 31, 2004|newspaper=[[The Globe and Mail]]|access-date=December 27, 2020|archive-date=November 9, 2023|archive-url=https://web.archive.org/web/20231109184934/https://www.theglobeandmail.com/report-on-business/reit-merger-may-signal-new-era-of-consolidation/article18262628/|url-status=live}}</ref> At the time of the merger, the company had 24,238 rental apartments and townhouse units across the country.<ref>{{cite news|url=https://www.cbc.ca/news/business/reits-in-1-billion-merger-1.510480|title=REITs in 1 Billion Dollar Merger|date=2004|publisher=cbc.ca|access-date=2020-12-23|archive-date=2023-11-09|archive-url=https://web.archive.org/web/20231109184434/https://www.cbc.ca/news/business/reits-in-1-billion-merger-1.510480|url-status=live}}</ref>
▲CAPREIT financialized the trailer park concept beginning with an acquisition in 2007 which grew to 6,456 “manufactured home community” (MHC) suites by 2017. <ref name=journalurbanaffairs>{{cite web|url=http://www.waterlooregion.org/sites/default/files/August2020.pdf|title= The financialization of Canadian multi-family rental housing: From trailer to tower |publisher=Journal of Urban Affairs|date=February 28, 2020}}</ref><ref>{{cite web|url=https://www.globenewswire.com/news-release/2012/06/01/1397652/0/en/CAPREIT-Acquires-Major-Manufactured-Home-Communities-Portfolio.html|title=CAPREIT acquires major manufactured home communities portfolio|date=June 1, 2012 |website=www.globenewswire.com }}</ref>
 
▲Paid $500 million in 2004 to acquire smaller rival Residential Equities Real Estate Investment Trust. <ref>{{cite news |url=https://www.theglobeandmail.com/report-on-business/reit-merger-may-signal-new-era-of-consolidation/article18262628/|title=REIT merger may signal new era of consolidation|date=March 31, 2004 |newspaper=[[The Globe and Mail]] }}</ref> At the time of the merger the company had 24,238 rental apartments and townhouse units across the country.<ref>{{cite news |url=https://www.cbc.ca/news/business/reits-in-1-billion-merger-1.510480|title=REITs in 1 Billion Dollar Merger|date=2004 |publisher=cbc.ca }}</ref>
In 2007, CAPREIT made its first acquisition in manufactured home communities.<ref name=journalurbanaffairs>{{cite web|url=http://www.waterlooregion.org/sites/default/files/August2020.pdf|title=The financialization of Canadian multi-family rental housing: From trailer to tower|publisher=Journal of Urban Affairs|date=February 28, 2020|access-date=December 23, 2020|archive-date=February 12, 2021|archive-url=https://web.archive.org/web/20210212210240/http://waterlooregion.org/sites/default/files/August2020.pdf|url-status=live}}</ref><ref>{{cite press release|url=https://www.globenewswire.com/news-release/2012/06/01/1397652/0/en/CAPREIT-Acquires-Major-Manufactured-Home-Communities-Portfolio.html|title=CAPREIT acquires major manufactured home communities portfolio|date=June 1, 2012|website=www.globenewswire.com|access-date=December 23, 2020|archive-date=October 22, 2023|archive-url=https://web.archive.org/web/20231022064144/https://www.globenewswire.com/news-release/2012/06/01/1397652/0/en/CAPREIT-Acquires-Major-Manufactured-Home-Communities-Portfolio.html|url-status=live}}</ref>
▲It became associated with Montreal Olympic Village in 2012.<ref>{{cite web|url=https://en.globes.co.il/en/article-1000795267|title=Tshuva's Elad sells Montreal's Olympic Village|date=2012 |publisher=globes.co.il }}</ref>
 
In 2019 the company spun-off 2000 rental units in the Netherlands, into a separate European-focused [[REIT]] (Canada's first).<ref>{{Cite web |publisher=ERES Limited Partnership |date=2020-02-25|title=European Residential REIT Announces Year End 2019 Results|url=https://www.globenewswire.com/news-release/2020/02/25/1990551/0/en/European-Residential-REIT-Announces-Year-End-2019-Results.html|access-date=2021-05-03|website=GlobeNewswire News Room|language=fr}}</ref> CAPREIT was added to the TSX 60 index on June 22, 2020.<ref>{{Cite web |date=2020-06-15|title=CAPREIT to be Included in the S&P/TSX 60 Index|url=https://www.globenewswire.com/news-release/2020/06/15/2048331/0/en/CAPREIT-to-be-Included-in-the-S-P-TSX-60-Index.html|access-date=2021-05-03|website=GlobeNewswire News Room|language=en}}</ref> In March 2021, CAPREIT extended a €165 million agreement with European Residential REIT until 2023.<ref>{{Cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/european-residential-capreit-extend-8364-165m-pipeline-agreement-63112177|title=European Residential, CAPREIT Extend €165m Pipeline Agreement|website=spglobal}}</ref>▼
In 2012, CAPREIT purchased Montreal's [[Olympic Village (Montreal)|Olympic Village]] for $176.5 million.<ref>{{cite web|url=https://en.globes.co.il/en/article-1000795267|title=Tshuva's Elad sells Montreal's Olympic Village|date=2012|publisher=globes.co.il|access-date=2020-12-27|archive-date=2023-11-09|archive-url=https://web.archive.org/web/20231109184324/https://en.globes.co.il/en/article-1000795267|url-status=live}}</ref>
==Notable Properties==▼
 
[[Olympic Village (Montreal)]]▼
▲In 2019, the company spun-off 2000its rentalEuropean unitsholdings into a separate company, European Residential REIT. CAPREIT retains a stake in the Netherlandscompany, intowhich aowns separateover European-focused5,865 [[REIT]]rental (Canada'sapartment first)units in the Netherlands.<ref>{{Cite webpress release|publisher=ERES Limited Partnership |date=2020-02-25|title=European Residential REIT Announces Year End 2019 Results|url=https://www.globenewswire.com/news-release/2020/02/25/1990551/0/en/European-Residential-REIT-Announces-Year-End-2019-Results.html|access-date=2021-05-03|website=GlobeNewswire News Room|language=fr}}</ref> CAPREIT was added to the TSX 60 index on June 22, 2020.<ref>{{Cite web |archive-date=2020-0602-15|title=CAPREIT to be Included in the S&P/TSX 60 Index26|archive-url=https://web.archive.org/web/20200226211327/https://www.globenewswire.com/news-release/2020/0602/1525/20483311990551/0/en/CAPREITEuropean-toResidential-beREIT-IncludedAnnounces-inYear-theEnd-S2019-P-TSX-60-IndexResults.html|accessurl-datestatus=2021-05-03|website=GlobeNewswire News Room|language=enlive}}</ref> In March 2021, CAPREIT extended a €165 million agreement with European Residential REIT until 2023.<ref>{{Cite web|url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/european-residential-capreit-extend-8364-165m-pipeline-agreement-63112177|title=European Residential, CAPREIT Extend €165m Pipeline Agreement|website=spglobal|access-date=2021-12-01|archive-date=2021-12-01|archive-url=https://web.archive.org/web/20211201182203/https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/european-residential-capreit-extend-8364-165m-pipeline-agreement-63112177|url-status=live}}</ref>
 
CAPREIT was added to the TSX 60 index on June 22, 2020.<ref>{{Cite press release|date=2020-06-15|title=CAPREIT to be Included in the S&P/TSX 60 Index|url=https://www.globenewswire.com/news-release/2020/06/15/2048331/0/en/CAPREIT-to-be-Included-in-the-S-P-TSX-60-Index.html|access-date=2021-05-03|website=GlobeNewswire News Room|language=en|archive-date=2021-04-04|archive-url=https://web.archive.org/web/20210404082732/http://www.globenewswire.com/news-release/2020/06/15/2048331/0/en/CAPREIT-to-be-Included-in-the-S-P-TSX-60-Index.html|url-status=live}}</ref>
 
▲==Notable Propertiesproperties==
▲*[[Olympic Village (Montreal)]]
 
==References==
Line 41 ⟶ 53:
 
[[Category: Companies based in Toronto]]
[[Category: Real estate investment trusts of Canada]]
[[Category: S&P/TSX 60]]
[[Category: Companies listed on the Toronto Stock Exchange]]
Retrieved from "https://en.wikipedia.org/wiki/CAPREIT"