Brief: Capreit Advances Toronto Operating Lease Buyout Strategy

Canadian Apartment Properties Real Estate Investment Trust

03/06/2020 22:16

June 3 (Reuters) - Canadian Apartment Properties Real Estate
Investment Trust  CAR_u.TO :
    * CAPREIT ADVANCES TORONTO OPERATING LEASE BUYOUT STRATEGY
    * CAPREIT - HAS AGREED TO PREPAY BUYOUT OF EIGHT OPERATING
LEASES
FOR EIGHT PROPERTIES IN TORONTO, WHICH ARE EXPECTED TO CLOSE BY
JUNE 30
    * CAPREIT - AGGREGATE PURCHASE PRICE FOR OPERATING LEASE
BUYOUTS
IS APPROXIMATELY $154 MILLION
    * CAPREIT - OPERATING LEASE BUYOUTS ARE EXPECTED TO BE
FINANCED BY
A DRAW ON CAPREIT'S ACQUISITION AND OPERATING FACILITY
    * CAPREIT - EXPECTS TO REPLACE DRAW WITH MORTGAGE FINANCING
IN
NEAR-TERM

Source text for Eikon:  ID:nGNX58Kw1 
Further company coverage:  CAR_u.TO 

 ((Reuters.Briefs@thomsonreuters.com;))