03:52 PM EST - Canadian Apartment Properties Real Estate Investme : announced today that it has completed the previously- announced 3,562 suite acquisition of 14 properties located in the Greater Toronto Area, Southwestern Ontario, Montréal Region, Québec City and Halifax. The purchase price for the properties of approximately $455 million (including transaction costs) was satisfied by: i) the assumption of approximately $184 million in mortgages at a weighted average stated interest rate of 3.99% with a weighted average term to maturity of 2.6 years; and ii) approximately $271 million from the proceeds of CAPREIT's recent equity offering and the balance from the Acquisition and Operating Facility. Canadian Apartment Properties Real Estate Investment Trust
shares T.CAR.UN are trading up $0.01 at $23.62.
