CAPREIT sells manufactured home community portfolio and European residential suites, declares special cash distribution

From GlobeNewswire: 2024-12-16 17:27:46

CAPREIT completes sale of manufactured home community portfolio, selling 11,605 residential lots for $715.0 million. Remaining 533 lots to be sold for $25.0 million in 2025. ERES sells 3,179 residential suites in the Netherlands for $1.1 billion, declares special cash distribution of $1.49 per unit. CAPREIT to receive approximately $227 million from ERES distribution. Net proceeds to be used to repay credit facility, fund acquisitions, and for general business purposes. CAPREIT declares special non-cash distribution of $1.18 per unit, payable in units on December 31, 2024. December 2024 monthly distribution set at $0.125 per unit.

Read more at GlobeNewswire: CAPREIT Provides Update on MHC and European Dispositions,