CAPREIT Completes Sale of International Plaza to Nch'?aý Development Corporation

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[{"type":"text","content":"CAPREIT Completes Sale of International Plaza to Nch’ḵaý Development Corporation\n\n\n\n\n\n This news release constitutes a “designated news release” for the purposes of CAPREIT’s prospectus supplement dated May 15, 2025, to its short form base shelf prospectus dated May 15, 2025.\n \n\n\n\n TORONTO, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“\n \n CAPREIT\n \n ”) (TSX: CAR.UN) announced today that it has completed the sale of its land lease interest on International Plaza (“\n \n International Plaza\n \n ”), a property located in North Vancouver, British Columbia, to Nch’ḵay̓ Development Corporation (“\n \n Nch’ḵay̓\n \n ”), the economic development group of the Squamish Nation.\n \n\n International Plaza was built in 1975 and contains 471 residential suites, as well as 11 commercial units comprising over 65,000 square feet of gross leasable area. The unencumbered property was sold to Nch’ḵay̓ for $54.2 million, excluding transaction costs and other customary adjustments.\n \n\n\n\n\n\n\n A Media Snippet accompanying this announcement is available by clicking on this link.\n \n\n\n\n “We’re honoured to take part in a transaction that transfers land back to the Squamish Nation, and contribute to their journey towards expanded economic leadership in the region, and in particular the growth of First Nations representation in the residential real estate industry in Canada,”\n \n commented Mark Kenney, President and Chief Executive Officer of CAPREIT.\n \n “We hope to continue working with organizations such as Nch’ḵay̓, that will see to the preservation of high-quality living for residents, the continued enrichment of surrounding communities, and the development of many more homes for Canadians.”\n \n\n\n\n “We would like to extend our appreciation to the Canada Mortgage and Housing Corporation, and their establishment of constructive products such as the MLI Select Program, which make meaningful collaborations such as this possible,”\n \n continued Mr. Kenney.\n \n “We would also like to thank the Minister of Housing, Infrastructure and Communities for backing...

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