Canadian Apartment Properties Real Estate Investment Trust (CAR.UN) released its financial results for Q3 2025, showing total portfolio performance metrics and operating revenues of $252.3 million for the quarter, with a net operating income (NOI) of $167.8 million. Occupancy rates for the Canadian residential portfolio were at 97.8% as of September 30, 2025.

The company’s FFO per unit for the quarter was $0.663, with distributions per unit at $0.388. Total debt to gross book value ratio was 37.7%, with a weighted average mortgage effective interest rate of 3.26%. Cash and cash equivalents stood at $102.2 million as of September 30, 2025.

CAPREIT reported an increase in same property NOI margin to 66.4% and a slight growth in diluted FFO per unit by 0.6% compared to the same period last year. The company made strategic property acquisitions totaling $309.9 million for the nine months ended September 30, 2025, while also disposing of non-core properties.

The company’s operating results showed a 3.6% increase in monthly residential rents for turnovers and renewals for the Canadian residential portfolio in Q3 2025. Same property occupied average monthly rent for the Canadian residential portfolio increased by 4.4% compared to the previous year.

CAPREIT’s financial metrics revealed a total debt to gross book value ratio of 37.7% as of September 30, 2025. The company’s balance sheet remained strong with ample liquidity of approximately $280.5 million, allowing for continued capitalization on market opportunities and generating higher free cash flow for Unitholders.

The company’s strategic initiatives included the acquisition of four properties with 502 suites in Canada for a total gross purchase price of $157.8 million in Q3 2025. Additionally, CAPREIT disposed of 839 residential suites in Canada, with a gross sale price of $136.7 million, as part of its capital recycling program.

CAPREIT’s ongoing focus on internal optimization and disciplined execution across its portfolio has led to improved financial performance and strong earnings growth. The company’s commitment to enhancing free cash flow generation and delivering value to Unitholders remains a key priority.

Read more at GlobeNewswire: CAPREIT Reports Third Quarter 2025 Results