CAPREIT to Invest in Canadian Housing Supply with Construction of 170 Residential Suites Within Existing Portfolio

TORONTO, June 02, 2025 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it is planning to invest in two infill development projects for the construction of an estimated 120 residential rental suites on excess land in Mississauga, Ontario (the “GTA Development Projects”). Additionally, CAPREIT is underway with the conversion of certain underutilized non-residential spaces identified throughout its current apartment portfolio for the construction of an estimated 50 additional residential rental suites (the “Conversion Projects”). All plans disclosed herein are subject to the receipt of outstanding municipal planning and permit approvals, as well as any other required approvals, and are subject to change and such changes may be significant. There can be no assurance that all requirements for approval or completion will be obtained, satisfied or waived.

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