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BRIEF-Canadian Apartment Properties REIT to buy properties in Netherlands

Published 2017-06-30, 08:54 a/m
© Reuters.  BRIEF-Canadian Apartment Properties REIT to buy properties in Netherlands
CAR_u
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June 30 (Reuters) - Canadian Apartment Properties Real Estate Investment Trust CAR_u.TO :

* Capreit - has waived conditions and will acquire 19 properties totaling 849 residential suites located in eight cities and towns in Netherlands

* Capreit - deal for eur170.4 million

* Capreit - deal will be financed with new mortgage financing of about EUR100.8 million with weighted average term of about 7.5 years

* Capreit - will be responsible for providing property management services for new properties, exporting its proven programs to Netherlands

* Capreit-Deal will also be financed with remaining euro-based loan under credit facility, which currently has a 2-year hedged fixed interest rate of about 1.2%

* Capreit - will be establishing its own regional office in netherlands to manage portfolio Source text for Eikon: ID:nCCNb5Q35a Further company coverage: CAR_u.TO

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