For complete details, please see our 2022 Annual Report.
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CAPREIT 2022 Annual Report
Celebrating 25 Years
“In 2022, we were proud to celebrate 25 years of growth and performance. Since 1997, our asset base has expanded to approximately 67,000 apartment suites, townhomes and MHC sites valued at over $17 billion. Most importantly, Unitholders have received a compounded annual return of 12% since inception, a testament to our management team, our proven value-enhancing strategies and the continuing strong fundamentals in our business.”
Mark Kenney
Chief Executive Officer
2022 Highlights & Objectives
HIGHLIGHTS
- Celebrated 25 years of growth and performance
- Record-breaking fourth quarter and annual rent uplift on turnover in Canada of 24% and 15%, respectively
- Actively executing on asset allocation strategy, diversifying and upgrading portfolio quality
- Invested over $245 million to date in NCIB program at attractive pricing, crystallizing value for Unitholders
- Accretive growth in NFFO per Unit, up by 1%
- Fortified financial position with over $1 billion in favourable new and refinanced mortgage principal
- Proactively living up to commitment to contribute to Canada’s housing supply and affordability solutions
- Refreshed executive management team, reinforcing leadership strength, experience and innovation
- Achieved meaningful progress on ESG initiatives
OBJECTIVES
- To provide Unitholders with long-term, stable and predictable monthly cash distributions;
- To grow NFFO, sustainable distributions and NAV through the active management of its properties, accretive acquisitions and dispositions, developments, intensifications and strong financial management; and
- To invest capital within the property portfolio in order to maximize earnings and cash flow potential and to help ensure life safety of residents.
News
News
CAPREIT recognized for gender parity across the organization.
Equileap’s latest report shows that only 28 companies globally have closed the gender pay gap, and just 18 have achieved gender balance at all levels. …
News
CAPREIT 2022 Annual Report
Celebrating 25 Years “In 2022, we were proud to celebrate 25 years of growth and performance. Since 1997, our asset base has expanded to approximately …
News
Canada’s next great economic boom can be unleashed by the power of housing, immigration, and labour
Op-ed published in The Hill Times. Expanded immigration can work hand-in-hand with the construction industry’s goals to open the way to uild the 3.5 million additional homes we need above the current pace of construction.
News
CAPREIT Applauds Premier Eby’s Rental Protection Fund
A cost-effective tool for affordable long-term rental housing for vulnerable communities Ottawa, Canada, January 19, 2023 (Globe Newswire) – Canadian Apartment Properties Real Estate Investment …
News
Canadian rental housing providers for affordable housing
Five Major Residential Rental REITs launch ForAffordable.ca A window into how Canada’s five largest publicly traded residential rental REITs operate and their ideas to address …
News
BNN Bloomberg Interview with Mark Kenney – Incredible problems with lack of supply
CAPREIT’s Chief Executive Officer Mark Kenney, joined BNN Bloomberg to discuss CAPREITs Q3 results, the lack of housing supply and current state of the rental …