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{{Short description|Canadian real estate investment trust}}
{{Infobox company
{{Infobox company
| name = Canadian Apartment Properties REIT
| name = Canadian Apartment Properties REIT
| logo = Capreit logo.svg
| logo = Capreit_Primary_Lockup_Indigo_RGB.svg
| logo_size = 160px
| logo_size = 300px
| type = [[Public company|Public]]
| type = [[Public company|Public]] ([[REIT]])
| traded_as = {{TSX|CAR.UN}}<br /> [[S&P/TSX 60|S&P/TSX 60 component]]
| traded_as = {{TSX|CAR.UN}}<br />[[S&P/TSX 60|S&P/TSX 60 component]]
⚫
| foundation = {{Start date|1997|05|21}}<!-- this parameter modifies "Founded" -->
| genre =
⚫
| foundation = {{Start date|1997|05|24}}<!-- this parameter modifies "Founded" -->
| founder = Thomas Schwartz
| founder = Thomas Schwartz
| location_city = [[Toronto]]
| location_city = [[Toronto, Ontario]]
| location_country = [[Canada]]
| 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 = [[REIT]]<br />
| industry = [[Real Estate]]
| 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{{decrease}}7%<ref name=ninereport/></small>
| net_income = {{increase}} Can$1.4 billion (2021)<ref name="annual2021"/>
| operating_income = C$508 mil <small>2018 {{increase}}15%<ref name=ninereport/></small>
| operating_income = {{increase}} Can$535.2 million (2021)<ref name="annual2021"/>
| assets = C$14,018 mil <small>(Dec'19)<ref name=ninereport/></small>{{increase}}40%
| assets = {{increase}} Can$17.7 billion (2021)<ref name="annual2021"/>
| equity = C$8404 mil <small>(Dec'19)<ref name=ninereport/></small>{{increase}}33%
| equity = {{increase}} Can$10.4 billion (2021)<ref name="annual2021"/>
| divisions = ERES<br>ERESM
| divisions =
| num_employees = 28,500
| num_employees = 28,500
| homepage = {{URL|www.caprent.com}}
| homepage = {{URL|www.capreit.ca}}
}}
}}
'''Canadian Apartment Properties Reit''' is an apartment [[real estate investment trust]], the largest of its kind in Canada.<ref>{{cite web|url=https://www.costar.com/article/50657071/canada%E2%80%99s-largest-publicly-traded-apartment-landlord-picks-up-509-suites|title=Largest publicly traded apartment landlord picks up 509 suites|date=November 11, 2020 |publisher=costar }}</ref> As of 2021 CAPREIT currently owns or has interests in approximately 70,000 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, in the Netherlands and Ireland with approximately $18 billion of assets under management globally.
'''Canadian Apartment Properties REIT''' ('''CAPREIT''') is a Canadian [[real estate investment trust]] headquartered in [[Toronto, Ontario]], Canada. CAPREIT is the largest publicly traded apartment landlord in Canada, with over $17.7 billion in assets, as of December 2021.<ref name="annual2021">{{cite web |url=https://s25.q4cdn.com/722916301/files/doc_financials/2021/ar/2021-Annual-Report.pdf |title=CAPREIT Annual Report 2021 |date=2022-02-23 |publisher=CAPREIT |access-date=2022-08-24 |archive-date=2022-07-12 |archive-url=https://web.archive.org/web/20220712004612/https://s25.q4cdn.com/722916301/files/doc_financials/2021/ar/2021-Annual-Report.pdf |url-status=live }}</ref> As of 2022, CAPREIT owns or has interests in approximately 67,000 residential apartments, townhomes and [[manufactured housing]] units across [[Canada]], [[the Netherlands]] and [[Republic of Ireland|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/><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|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>
⚫
Paid $500 million in 2004 to acquire smaller rival <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|last1=Church |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 web|url=https://www.cbc.ca/news/business/reits-in-1-billion-merger-1.510480|title=reits in 1 billion dollar merger|date=2004|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>
⚫
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|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>
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==
==History==
In 1996, Thomas Schwartz partnered with Michael Stein to establish CAPREIT, 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 Moguls Death Loss to Jewish Community |date=August 30, 2017 |publisher=cjnews.com }}</ref>
In 1996, Thomas Schwartz partnered with Michael Stein to establish Canadian Apartment Properties REIT, which became one of Canada's largest residential landlords.<ref>{{cite web |url=https://www.cjnews.com/news/canada/real-estate-moguls-death-loss-jewish-community |title=Real Estate Mogul'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 its European holdings into a separate company, European Residential REIT. CAPREIT retains a stake in the company, which owns over 5,865 rental apartment units in the Netherlands.<ref>{{Cite press 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|archive-date=2020-02-26|archive-url=https://web.archive.org/web/20200226211327/https://www.globenewswire.com/news-release/2020/02/25/1990551/0/en/European-Residential-REIT-Announces-Year-End-2019-Results.html|url-status=live}}</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 properties==
⚫
*[[Olympic Village (Montreal)]]


==References==
==References==
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[[Category: Companies based in Toronto]]
[[Category: Companies based in Toronto]]
[[Category: Real estate investment trusts]]
[[Category:Real estate investment trusts of Canada]]
[[Category: S&P/TSX 60]]
[[Category: S&P/TSX 60]]
[[Category: Companies listed on the Toronto Stock Exchange]]
[[Category: Companies listed on the Toronto Stock Exchange]]

Latest revision as of 18:50, 9 November 2023

Canadian Apartment Properties REIT
Company typePublic (REIT)
TSX: CAR.UN
S&P/TSX 60 component
IndustryReal Estate
FoundedMay 21, 1997 (1997-05-21)
FounderThomas Schwartz
Headquarters
Toronto, Ontario
,
Canada
Key people
Dr. Gina P. Cody (Chair of the Board)[1]
Mark Kenney (President & CEO)[1]
RevenueIncrease Can$933.1 million (2021)[1]
Increase Can$535.2 million (2021)[1]
Increase Can$1.4 billion (2021)[1]
Total assetsIncrease Can$17.7 billion (2021)[1]
Total equityIncrease Can$10.4 billion (2021)[1]
Number of employees
28,500
Websitewww.capreit.ca

Canadian Apartment Properties REIT (CAPREIT) is a Canadian real estate investment trust headquartered in Toronto, Ontario, Canada. CAPREIT is the largest publicly traded apartment landlord in Canada, with over $17.7 billion in assets, as of December 2021.[1] As of 2022, CAPREIT owns or has interests in approximately 67,000 residential apartments, townhomes and manufactured housing units across Canada, the Netherlands and Ireland.[1]

CAPREIT financialized the trailer park concept beginning with an acquisition in 2007 which grew to 6,456 “manufactured home community” (MHC) suites by 2017. [2][3] Paid $500 million in 2004 to acquire smaller rival [4] 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.[5] It became associated with Montreal Olympic Village in 2012.[6] In 2019 the company spun-off 2000 rental units in the Netherlands, into a separate European-focused REIT (Canada's first).[1]

  • CAPREIT was added to the TSX 60 index on June 22, 2020.

History[edit]

In 1996, Thomas Schwartz partnered with Michael Stein to establish Canadian Apartment Properties REIT, which became one of Canada's largest residential landlords.[7] CAPREIT went public with an initial public offering in 1997.

In 2004, CAPREIT acquired rival Residential Equities REIT for $500 million.[8] At the time of the merger, the company had 24,238 rental apartments and townhouse units across the country.[9]

In 2007, CAPREIT made its first acquisition in manufactured home communities.[2][10]

In 2012, CAPREIT purchased Montreal's Olympic Village for $176.5 million.[11]

In 2019, the company spun-off its European holdings into a separate company, European Residential REIT. CAPREIT retains a stake in the company, which owns over 5,865 rental apartment units in the Netherlands.[12] In March 2021, CAPREIT extended a €165 million agreement with European Residential REIT until 2023.[13]

CAPREIT was added to the TSX 60 index on June 22, 2020.[14]

Notable properties[edit]

References[edit]

  1. ^ a b c d e f g h i "CAPREIT Annual Report 2021" (PDF). CAPREIT. 2022-02-23. Archived (PDF) from the original on 2022-07-12. Retrieved 2022-08-24.
  2. ^ a b "The financialization of Canadian multi-family rental housing: From trailer to tower" (PDF). Journal of Urban Affairs. February 28, 2020. Archived (PDF) from the original on February 12, 2021. Retrieved December 23, 2020.
  3. ^ "CAPREIT acquires major manufactured home communities portfolio" (Press release). June 1, 2012. Archived from the original on October 22, 2023. Retrieved December 23, 2020.
  4. ^ Church, Elizabeth (March 31, 2004). "REIT merger may signal new era of consolidation". The Globe and Mail.
  5. ^ "reits in 1 billion dollar merger". 2004. Archived from the original on 2023-11-09. Retrieved 2020-12-23.
  6. ^ "Tshuva's Elad sells Montreal's Olympic Village". 2012. Archived from the original on 2023-11-09. Retrieved 2020-12-27.
  7. ^ "Real Estate Mogul's Death Loss to Jewish Community". cjnews.com. August 30, 2017. Archived from the original on November 16, 2018. Retrieved December 23, 2020.
  8. ^ "REIT merger may signal new era of consolidation". The Globe and Mail. March 31, 2004. Archived from the original on November 9, 2023. Retrieved December 27, 2020.
  9. ^ "REITs in 1 Billion Dollar Merger". cbc.ca. 2004. Archived from the original on 2023-11-09. Retrieved 2020-12-23.
  10. ^ "CAPREIT acquires major manufactured home communities portfolio". www.globenewswire.com (Press release). June 1, 2012. Archived from the original on October 22, 2023. Retrieved December 23, 2020.
  11. ^ "Tshuva's Elad sells Montreal's Olympic Village". globes.co.il. 2012. Archived from the original on 2023-11-09. Retrieved 2020-12-27.
  12. ^ "European Residential REIT Announces Year End 2019 Results". GlobeNewswire News Room (Press release) (in French). ERES Limited Partnership. 2020-02-25. Archived from the original on 2020-02-26. Retrieved 2021-05-03.
  13. ^ "European Residential, CAPREIT Extend €165m Pipeline Agreement". spglobal. Archived from the original on 2021-12-01. Retrieved 2021-12-01.
  14. ^ "CAPREIT to be Included in the S&P/TSX 60 Index". GlobeNewswire News Room (Press release). 2020-06-15. Archived from the original on 2021-04-04. Retrieved 2021-05-03.


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