For complete details, please see our 2022 Annual Report.
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CAPREIT 2022 Annual Report
Celebrating 25 Years
“In 2022, we were proud to celebrate 25 years of growth and performance. Since 1997, our asset base has expanded to approximately 67,000 apartment suites, townhomes and MHC sites valued at over $17 billion. Most importantly, Unitholders have received a compounded annual return of 12% since inception, a testament to our management team, our proven value-enhancing strategies and the continuing strong fundamentals in our business.”
Mark Kenney
Chief Executive Officer
2022 Highlights & Objectives
HIGHLIGHTS
- Celebrated 25 years of growth and performance
- Record-breaking fourth quarter and annual rent uplift on turnover in Canada of 24% and 15%, respectively
- Actively executing on asset allocation strategy, diversifying and upgrading portfolio quality
- Invested over $245 million to date in NCIB program at attractive pricing, crystallizing value for Unitholders
- Accretive growth in NFFO per Unit, up by 1%
- Fortified financial position with over $1 billion in favourable new and refinanced mortgage principal
- Proactively living up to commitment to contribute to Canada’s housing supply and affordability solutions
- Refreshed executive management team, reinforcing leadership strength, experience and innovation
- Achieved meaningful progress on ESG initiatives
OBJECTIVES
- To provide Unitholders with long-term, stable and predictable monthly cash distributions;
- To grow NFFO, sustainable distributions and NAV through the active management of its properties, accretive acquisitions and dispositions, developments, intensifications and strong financial management; and
- To invest capital within the property portfolio in order to maximize earnings and cash flow potential and to help ensure life safety of residents.
News
Press Releases
CAPREIT provides strategic update with $210 million in non-core dispositions
Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that, since its last transaction press release on August 1, 2024, it has closed ...
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In the Media
BNN Bloomberg Interview with Mark Kenney – Canada has an income distress problem
Mark Kenney, president and chief executive officer at Canadian Apartment REIT, joins BNN Bloomberg to discuss concerns for the housing market.
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Press Releases
CAPREIT accelerates capital recycling with $477 million in new strategic transactions
Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that, since the first quarter of 2024, it has completed six acquisitions of new ...
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Press Releases
CAPREIT Announces Strategic Sale of MHC Portfolio for $740 Million
Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has entered into an agreement with an entity controlled by TPG Real ...
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E.S.G.
CAPREIT Announces Release of 2023 ESG Report
Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has issued its fifth annual Environmental, Social, and Governance (“ESG”) Report.
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In the Media
Middlefield REIT CEO Interview with Mark Kenney on Canada’s Housing Crisis
CAPREIT President & CEO, Mark Kenney, sits down with Middlefield President & CEO, Dean Orrico for a fireside chat. Together, they delve into CAPREIT's approach ...
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