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CAPREIT Get Revenue Bump

Toronto Multifamily

Canadian Apartment Properties Real Estate Investment trust reported a 10.6% and 15.7% increase in revenues for Q4 and year-end Dec. 31, 2013. President Thomas Schwartz points to continued strong occupancies (98% among their portfolio) and increases in average monthly rents (up 2.9% in 2013 over 2012) as the big factors. CAPREIT also acquired 4,931 apartment suites and MHC sites in 2013, adding them to a portfolio near urban centres across Canada and in Dublin, Ireland. Snapped is Somerset Place Apartments in Mississauga.