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Canadian Apartment Properties Real Estate Investment Trust Completes Acquisition of Dublin Ireland Portfolio

Tuesday, 10 Sep 2013 05:00pm EDT 

Canadian Apartment Properties Real Estate Investment Trust announced that it has completed the previously-announced acquisition of a portfolio of 338 apartment suites and 33,800 square feet of commercial and retail space in four properties in the city of Dublin, Ireland for a purchase price of approximately EUR42.7 million (approximately CAD59.0 million), excluding transaction costs. CAPREIT paid for the portfolio using cash from a new EUR45.0 million credit facility for a term of five years at a rate of 3.2%. CAPREIT has entered into a two-year hedging program related to the portfolio's Euro-denominated cash flows. 

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