Canadian Apartment (TSE:CAR.UN) has released an update.
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Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has disclosed that subsidiaries of European Residential Real Estate Investment Trust are selling over $1 billion worth of properties in Europe. A special cash distribution from the proceeds is anticipated, which CAPREIT expects to partially receive and allocate towards debt repayment, acquisitions, and general business purposes. The transactions will streamline CAPREIT’s portfolio and strengthen its financial position.
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