Canadian rental housing providers for affordable housing: More info

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



  • 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



  • 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.

For complete details, please see our 2022 Annual Report.

or visit our Investors Site



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