CAPREIT Broadcasts Over $560 Million in Further Tendencies in Europe

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This information launch constitutes a “designated information launch” for the needs of CAPREIT’s prospectus complement dated February 22, 2024, to its brief type base shelf prospectus dated Could 9, 2023.

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TORONTO, April 02, 2025 (GLOBE NEWSWIRE) — Canadian Condo Properties Actual Property Funding Belief (“CAPREIT”) (TSX:CAR.UN) introduced at present {that a} subsidiary of European Residential Actual Property Funding Belief (TSX:ERE.UN) (“ERES”) has entered into an settlement to promote entities proudly owning 1,446 residential suites within the Netherlands for combination proceeds, web of an adjustment for deferred taxes and different changes, of roughly $522 million (the “Pending Disposition”). ERES additionally introduced that sure subsidiaries have accomplished the sale of an entity proudly owning one 104-suite property within the Netherlands for proceeds of roughly $39 million. Quantities disclosed herein exclude transaction prices and different changes, and are introduced in Canadian {dollars} based mostly on a Euro overseas alternate price of 1.55 on April 1, 2025.

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In reference to the Pending Disposition, ERES introduced that after repaying related mortgage and different debt, remaining web proceeds are meant to fund a particular money distribution of an estimated $1.24 per ERES Unit and ERES Restricted Partnership’s exchangeable Class B LP Unit (collectively, the “ERES Items”), payable to holders of the ERES Items of file at a date to be decided (the “Particular Distribution”). Based mostly on CAPREIT’s efficient curiosity in ERES of roughly 65%, CAPREIT expects to obtain roughly $189 million from the Particular Distribution following completion of the Pending Disposition.

ERES introduced that closing of the Pending Disposition is anticipated between early August and mid-September 2025. There might be no assurance that each one circumstances of closing might be obtained, glad or waived. Additional particulars of the Pending Disposition have been supplied by ERES in its press launch dated April 2, 2025.

CAPREIT intends to make the most of the proceeds from the Particular Distribution to: (1) repay debt; (2) fund future acquisitions of on-strategy rental properties in Canada; and (3) for basic enterprise functions.

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“We’re happy with the robust progress made on the execution of our repositioning aims for the reason that begin of final yr,” commented Mark Kenney, President and Chief Government Officer of CAPREIT. “These upcoming transactions will additional scale back CAPREIT’s non-core European publicity, with a beautiful portfolio of solely ten residential properties within the Netherlands remaining upon completion, together with two industrial properties. Wanting forward, CAPREIT stays supportive of ERES’s technique to floor the worth of its remaining portfolio and distribute that web fairness to its buyers, and on our finish, we’re trying ahead to repatriating that liquidity and reinvesting it again into the residential residence market in Canada.”

ABOUT CAPREIT
CAPREIT is Canada’s largest publicly traded supplier of high quality rental housing. As at December 31, 2024, CAPREIT owns roughly 46,900 residential residence suites and townhomes (excluding roughly 1,800 suites and websites labeled as belongings held on the market), which can be well-located throughout Canada and the Netherlands, with a complete honest worth of roughly $14.9 billion, excluding roughly $0.3 billion of belongings held on the market. For extra details about CAPREIT, its enterprise and its funding highlights, please go to our web site at www.capreit.ca and our public disclosure which might be discovered beneath our profile at www.sedarplus.ca.

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CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS
Sure statements contained on this press launch represent forward-looking statements inside the that means of relevant Canadian securities legal guidelines which replicate CAPREIT’s present expectations and projections about future outcomes. Ahead-looking statements typically might be recognized by means of forward-looking terminology resembling “outlook”, “goal”, “could”, “will”, “anticipate”, “intent”, “estimate”, “anticipate”, “consider”, “contemplate”, “ought to”, “plans”, “predict”, “estimate”, “ahead”, “potential”, “might”, “possible”, “roughly”, “scheduled”, “forecast”, “variation” or “proceed”, or related expressions suggesting future outcomes or occasions. The forward-looking statements made on this press launch relate solely to occasions or data as of the date on which the statements are made on this press launch. Precise outcomes and developments could differ, and will differ materially, from these expressed or implied by the forward-looking statements contained on this press launch. Any variety of components might trigger precise outcomes to vary materially from these forward-looking statements. Though CAPREIT believes that the expectations mirrored in forward-looking statements are cheap, it can provide no assurances that the expectations of any forward-looking statements will show to be appropriate. Such forward-looking statements are based mostly on a variety of assumptions that will show to be incorrect, together with on the subject of the anticipated completion and timing of the Pending Disposition, ERES’s meant use of proceeds from the Pending Disposition, the quantity and timing of the Particular Distribution and CAPREIT’s meant use of proceeds from the Particular Distribution. Accordingly, readers shouldn’t place undue reliance on forward-looking statements.

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Ahead trying statements on this press launch are topic to sure dangers and uncertainties, a lot of that are past CAPREIT’s management, which might lead to precise outcomes differing materially from these forward-looking statements. These dangers and uncertainties embrace, however should not restricted to, the dangers and uncertainties described beneath the heading “Dangers and Uncertainties” in CAPREIT’s 2024 Annual Report and beneath the heading “Threat Elements” in CAPREIT’s Annual Info Kind for the yr ended December 31, 2024, every of which is out there beneath CAPREIT’s profile on SEDAR+ at www.sedarplus.ca.

Besides as particularly required by relevant Canadian securities regulation, CAPREIT doesn’t undertake any obligation to replace or revise publicly any forward-looking statements, whether or not because of new data, future occasions or in any other case, after the date on which the statements are made or to replicate the prevalence of unanticipated occasions. These forward-looking statements shouldn’t be relied upon as representing CAPREIT’s views as of any date subsequent to the date of this press launch.

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