CAPREIT Buys High-End Halifax Apartment Building
Canadian Apartment Properties REIT has acquired 76 Place, a 71-suite luxury apartment property in Halifax, for $17.1M. Completed in 2015, the 94% occupied six-storey building, surrounded by natural woodlands, is close to CAPREIT’s other Halifax properties. President/CEO Thomas Schwartz says the acquisition has “significantly strengthened” the trust's presence in that market. CAPREIT, one of Canada's largest residential landlords, acquired 1,823 residential suites in 2016's first half and owns interests in 48,514 units nationwide.