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Toronto, July 5, 2021 (GLOBE NEWSWIRE) – Canadian Apartment Property Real Estate Investment Trust (“CAPREIT”) (Toronto Stock Exchange:car) Announced today that it has completed the acquisition of two manufactured housing communities (“MHC”) properties in Lakeshore Township near Windsor, Ontario, which contain 342 locations. CAPREIT paid approximately US$20.6 million for the two properties. The source of funding is cash and a US$8.6 million mortgage will expire in October 2025. One of the properties had only two vacant lots at the time of delivery.
Both properties are close to Lake St. Clair and have close economic ties with Windsor, Ontario, and are only a short 15-minute drive from the city and the US border. Both properties have complete infrastructure and are located in the main…
The full story on Benzinga.com
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