Canadian Apartment Properties REIT has acquired six rental properties across Canada, the REIT announced Tuesday.

The acquisitions include a newly built, two-building rental complex in Laval, Que., comprising 436 suites constructed in 2020 and 2023, purchased for $178 million, with CAPREIT assuming a $29.5-million mortgage at an interest rate of 3.3% for a remaining term of about 7.2 years.

CAPREIT also acquired a recently constructed portfolio of three buildings totalling 187 suites in Regina, for $41 million, assuming $17.6 million in mortgage debt at a weighted average interest rate of 2.9% and a remaining term of approximately 3.8 years. In addition, the trust purchased a newly built 51-suite property in Vancouver for $35 million, assuming a $27.2-million mortgage at a 3.2% interest rate with about five years remaining to maturity.

The company further expanded its portfolio with three low-rise vintage properties in British Columbia, including a 35-suite building in Vancouver’s Mount Pleasant neighbourhood and two properties totalling 98 suites in Victoria’s James Bay area. These acquisitions were completed for combined gross consideration of $38.5 million, with $12.6 million in assumed mortgage debt at a weighted average interest rate of 2.1%.

“These transactions bring our 2025 acquisition volume to a total of $659 million in highly strategic, primely located assets, which come with low capital requirements and strong return profiles,” said Mark Kenney, president and CEO of CAPREIT. “We’re also continuing to purchase our recently constructed buildings at appealing pricing per square foot compared to replacement cost. This ongoing transformation is further strengthening the quality and cash flow performance of our irreplaceable rental apartment portfolio in Canada.”

The properties were purchased at a high-4% weighted average cap rate, with relatively attractive capex characteristics, said Julian Schonfeldt, the REIT’s chief investment officer.

“In addition, we’ve deployed capital into our [normal-course issuer bid] program at a mid-5% cap rate, with $94 million invested since the end of Q3 2025,” he said.

Pictured: Tours Chapdelaine in Quebec City

Photo: City of Quebec

Photo: CAPREIT