For complete details, please see our 2022 Annual Report.
or visit our Investors Site
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
Op-ed: New housing minister cannot crack the code alone
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
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Op-ed: Canada’s Housing Crisis
Op-ed originally published in BC Landlord’s THE KEY Summer 2023. Canada doesn’t have enough housing. That’s a fact that people from all walks of life,
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Op-ed: As Canadian housing crisis rages on, is ‘financialization’ really to blame?
Addressing Canada’s housing crisis requires all-hands-on-deck. Step 1: stop chasing away the capital we’ll need to build 5.8 million new homes. Read my op-ed published
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News
BNN Bloomberg Interview with Mark Kenney – The Housing Crisis in Canada
From rents to immigration, CAPREIT President & Chief Executive Officer, Mark Kenney, discusses the critical issues surrounding affordability and the lack of housing crisis in
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EV Charging is here
Driving Sustainable Change in Our Communities We are excited to announce CAPREIT’s latest sustainability initiative in celebration of Earth Day! As part of our commitment
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News
Mark Kenney on ‘Working Capital: The Real Estate Podcast’ on Canadian REIT Market and Affordable Housing
Great conversation on the Canadian REIT Market and Affordable Housing with Mark Kenney and Jesse Fragale on the ‘Working Capital: The Real Estate Podcast’ You
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