This news release constitutes a “designated news release” for the purposes of CAPREIT’s prospectus supplement dated May 15, 2025, to its short form base shelf prospectus dated May 15, 2025. Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, Dec. 15, 2025 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today its December 2025 monthly distribution in the amount of $0.12917 per Unit (or $1.55 on an ...

Core Viewpoint - In the era of information overload, consumers face numerous choices along with potential traps and disputes. It is essential for consumers to identify potential risks before making purchases by utilizing public information and complaint platforms like the Black Cat Complaint app [1][14]. Group 1: Consumer Behavior - The habit of checking complaint information before making purchases has become increasingly common among consumers, especially for high-value items or services with long service cycles [2][16]. - This proactive behavior helps consumers avoid future troubles by revealing potential issues related to product quality, service response, and contract fulfillment [2][16]. Group 2: Industries Requiring Caution - Certain industries, particularly those with high transaction values, long service chains, and multiple after-sales processes, necessitate thorough pre-purchase checks [3][17]. - Specific sectors that require heightened scrutiny include: - Education and vocational training, where issues like false advertising and refund difficulties are prevalent [6][20]. - Beauty and medical services, which pose risks related to personal safety and service effectiveness [6][20]. - Home renovation and building materials, where common problems include additional charges and delays [6][20]. - Long-term rental apartments and real estate agencies, often facing issues like deposit refunds and contract traps [4][20]. - Online purchases of large items or luxury goods, where concerns about counterfeit products and after-sales service are significant [4][20]. Group 3: Sources for Reliable Complaint Information - Consumers can access various public channels to check complaint records, including: - Official regulatory platforms like the national 12315 platform, which provides authoritative data on complaints and resolutions [5][18]. - Industry-specific complaint platforms that cater to particular sectors, ensuring more relevant processing [5][18]. - Third-party public complaint platforms, such as the Black Cat Complaint platform, which leverage user bases to facilitate communication between consumers and businesses [5][18]. Group 4: Utilizing Black Cat Complaint Platform - The Black Cat Complaint platform serves as a valuable resource for consumers, offering easy access to a wealth of complaint cases that can inform purchasing decisions [7][19]. - Users can search for companies or brands to view related complaints, including consumer issues and company responses, providing a comprehensive view of service responsiveness [7][19]. - The platform also features a collective complaint function, highlighting common issues faced by multiple consumers, which can indicate systemic problems [21]. Group 5: Strategies for Avoiding Consumer Traps - Consumers are encouraged to adopt a multi-faceted approach to avoid pitfalls: - Cross-verify information across multiple platforms, including 12315 and social media [9][22]. - Carefully read contracts and terms, especially regarding liability and refund policies [10][23]. - Retain all transaction evidence, such as screenshots and payment records, for future reference [11][23]. - Use secure payment methods to maintain transaction records [12][23]. - Approach large or prepaid purchases with caution, opting for smaller trial packages before committing to larger investments [12][23]. Conclusion - In a complex consumer market, proactive measures are more effective than post-purchase claims. Developing a habit of checking complaint records and utilizing platforms like Black Cat Complaint can significantly enhance consumer decision-making [13][24].

Core Insights - Equity Residential (EQR) reported third-quarter 2025 normalized funds from operations (FFO) per share of $1.02, meeting the Zacks Consensus Estimate and reflecting a 4.1% year-over-year improvement [1][8] - The company revised its 2025 guidance for normalized FFO per share to a range of $3.98-$4.02, indicating steady growth and occupancy gains [9] Financial Performance - Rental income for the quarter was $782.4 million, exceeding the consensus estimate of $781.4 million, and increased by 4.6% year over year [1][8] - Same-store revenues rose by 3% year over year, surpassing the estimate of 1.9%, while same-store expenses increased by 3.6% [2] - Same-store net operating income (NOI) climbed 2.8% year over year, above the estimate of 1.7% [2] Operational Metrics - The average rental rate increased by 2.7% year over year to $3,218, and same-store portfolio physical occupancy improved by 20 basis points to 96.3% [3] - New lease change for residential same-store properties decreased by 1.0%, while the renewal rate was 4.5% for the third quarter [4] Portfolio Activity - In Q3 2025, Equity Residential acquired a 375-unit property in Arlington, TX, for nearly $103 million and sold two properties for a total of approximately $247.9 million [5] Balance Sheet - The company ended Q3 2025 with cash and cash equivalents of $93.1 million, up from $31.3 million at the end of Q2 2025 [6] - The net debt to normalized EBITDAre ratio decreased to 4.41X from 4.45X in the previous quarter [6] Future Guidance - For Q4 2025, EQR projects normalized FFO per share in the range of $1.02 to $1.06, with the Zacks Consensus Estimate currently at $1.04 [7] - The full-year guidance for 2025 includes projections for same-store revenue growth of 2.5-3.0%, expense increase of 3.5-4.0%, and NOI expansion of 2.1-2.6% [9]

Group 1 - Blackstone is the world's largest alternative asset manager with $1.2 trillion in assets under management, primarily in real estate, making it the largest commercial real estate owner globally [1] - As of June, Blackstone's real estate portfolio was valued at $611 billion, consisting of over 12,500 assets, with 87% in rental housing, industrial properties, and data centers [2] - 70% of Blackstone's real estate holdings are located in Sunbelt markets, including Florida (13%), Georgia (11%), and Texas (10%), benefiting from favorable demographics such as population and job growth [3] Group 2 - Current trends such as a housing shortage and falling interest rates are advantageous for Blackstone's extensive real estate portfolio [4] - The Federal Reserve initiated a rate-cutting cycle in September, with expectations for two additional quarter-point cuts, which could benefit commercial real estate companies that rely on short-term debt [5] - The U.S. housing shortage reached a record high of 4.7 million homes in July, indicating a favorable investment environment for Blackstone [6] Group 3 - Blackstone has a market capitalization of approximately $216 billion, with its stock up 2% year-to-date and nearly 14% over the past 52 weeks, trading at around 27 times forward earnings [8]

Group 1 - SATO Corporation is a leading provider of sustainable rental housing in Finland, owning approximately 27,000 rental homes in major cities such as Helsinki, Tampere, and Turku [2][4] - The company focuses on delivering an excellent customer experience and offers a diverse range of urban rental housing options with good access to public transport and services [3][4] - SATO emphasizes sustainable development and engages in open interaction with stakeholders, aiming for profitable and long-term investments to enhance asset value through various strategies [4] Group 2 - On September 25, 2025, Balder Finska Otas AB, associated with board member Erik Selin, acquired 27,000 shares of SATO at a unit price of 21 EUR, marking an initial notification of this transaction [1]

Core Insights - The appeal of rental housing is increasing across all age groups, particularly among homeowners, as indicated by SATO's survey [1][3] - 70% of homeowners reported a growing interest in rental living, with half of all respondents noting an increase in interest over the past year [3] - Interest in rental housing is notably rising among high-income individuals, with nearly one-third of those earning over 85,000 euros annually reporting a significant increase in interest [3] Reasons for Interest in Rental Housing - The primary reason for choosing rental housing is personal financial situations, followed by the ease and flexibility of renting, and location opportunities [4] - The trend of increasing interest in rental housing is supported by the observation that new demographic groups are attracted to the flexibility of rental living, not solely due to financial necessity [5] Key Factors in Choosing Rental Housing - Approximately 90% of respondents consider a good price-quality ratio, an approachable housing provider, and reliable maintenance services as critical factors when selecting a home [6] - Today's rental residents prefer not to worry about maintenance or renovations, and the ability to move flexibly is important for adapting to life changes [7] Location Preferences - Important location factors for respondents include good public transport connections, access to nature, proximity to services, and affordable housing costs [8] Survey Details - SATO's survey was conducted through online interviews in April 2025, involving 1,004 participants aged 18 to 74 from Uusimaa, Tampere, and the Turku region [9]

Core Viewpoint - The discussion centers around the perception of landlords amidst rising rents and housing shortages, questioning whether landlords are truly "evil" or if the situation is more nuanced [1]. Group 1: Landlord Perception - The narrative that owning property and charging rent is immoral is challenged, with the argument that societal resentment towards successful individuals stems from envy and jealousy [2][3]. - Ramsey emphasizes that not everyone is equal in terms of success and capabilities, suggesting that the push against successful landlords reflects a broader societal issue [2][3]. Group 2: Charging Rent - Charging market rent is defended as a legitimate transaction rather than an immoral act, with Ramsey stating that landlords provide housing options for those who cannot afford to live in certain areas [4][5]. - The reality of income disparities is highlighted, noting that individuals earning $45,000 a year cannot afford to live in high-cost areas like Manhattan, which is a part of life [5].

Financial Data and Key Metrics Changes - The company reported a GAAP EPS loss of $0.05 per share compared to a loss of $0.43 per share in Q2 of the previous year [15] - Baseline EBITDA for Q2 was $117 million, a 12% increase year over year, bringing the trailing twelve-month baseline EBITDA to $425 million [15] - Adjusted EBITDA totaled $147 million, significantly up from $79 million in Q2 of the previous year [15] Business Line Data and Key Metrics Changes - Assets under management grew to a record $30 billion, increasing by 70% since the beginning of 2021 [6] - The rental housing sector, representing 65% of assets under management, comprises approximately 70,000 units [7] - The company originated $1.3 billion in new rental housing construction loans, marking the second-largest quarter in originations to date [7] Market Data and Key Metrics Changes - The U.S. apartment sector is experiencing strong rental demand due to a persistent housing shortage and declining new supply, setting the stage for rental growth [12][13] - In the Pacific Northwest, NOI growth was the strongest across the portfolio at 5.6%, driven by demand from companies like Amazon and Starbucks [22] - The Mountain West region, particularly Idaho, saw impressive NOI growth of 7.2% due to higher rents and lower real estate taxes [23] Company Strategy and Development Direction - The company is focused on increasing its exposure to rental housing, aiming for this sector to grow to over 80% of assets under management over the next two years [7] - The strategy includes expanding the multifamily and affordable housing sectors while disposing of non-core assets [20] - The company plans to continue recycling capital into higher return investment opportunities within its investment management platform [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the real estate fundamentals strengthening and the compelling risk-adjusted opportunities in the rental housing sector [12] - The company anticipates a record level of new capital deployment in the remainder of 2025, supported by strong partnerships and a robust pipeline of activity [14] - Management highlighted the importance of maintaining a diversified investment management business to enhance shareholder value [14] Other Important Information - The company generated $275 million from asset sales for the year, keeping it on track to meet its goal of $400 million by year-end [11] - The company has $113 million of consolidated unrestricted cash and $450 million of undrawn availability on its credit facility [19] - The company began utilizing its share repurchase plan, repurchasing approximately 400,000 shares at an average price of $6.21 [19] Q&A Session Summary Question: Can you discuss the UK single-family rental business and its attractiveness? - The UK single-family rental market is in its early stages, with significant growth potential and a focus on a build-to-rent strategy [34][36] - Targeted returns are mid-teens at the asset level, potentially reaching the 20s with fees included [37] Question: How does the company view competition in the debt platform? - The company will continue to focus on residential construction lending, with potential expansion into bridge lending and permanent solutions [42] - The company has expertise in other property types but will primarily focus on housing [43] Question: What are the plans for non-core asset sales for the remainder of the year? - The company is on track to exceed its goal of $400 million in asset sales, having already generated $275 million [44] Question: What are the preferences between affordable versus market-rate multifamily investments? - The company is interested in expanding exposure to both affordable and market-rate sectors, with a focus on the U.S. market [47][48] - The company aims to increase the number of units it manages to between 90,000 and 100,000 over the next few years [51] Question: How is the company addressing upcoming debt maturities? - The company plans to continue disposing of non-core assets to free up capital for debt maturities and refinancing [63] - The average rate on maturing debt is close to 6%, which is above the current borrowing cost [65]

Core Insights - CAPREIT reported its operating and financial results for Q1 2025, highlighting a strategic focus on simplifying its platform and upgrading its Canadian apartment portfolio [1][8]. Financial Performance - Operating revenues for Q1 2025 were $253.3 million, down 8.2% from $275.8 million in Q1 2024 [4]. - Net operating income (NOI) decreased to $158.0 million, a 10.7% decline from $177.0 million in the previous year [4]. - The NOI margin fell to 62.4% from 64.2% year-over-year [4]. - Funds From Operations (FFO) per unit diluted was $0.585, down 3.9% from $0.609 in Q1 2024 [4][45]. - The FFO payout ratio increased to 65.4% from 59.5% [4]. Portfolio Performance - As of March 31, 2025, CAPREIT's total portfolio consisted of 47,197 suites, down from 48,696 suites as of December 31, 2024 [2]. - The fair value of investment properties was approximately $14.94 billion, a slight increase from $14.87 billion at the end of 2024 [2]. - Occupancy rates improved slightly in the Canadian residential portfolio to 97.9% from 97.5% in the previous quarter [2][8]. - The average monthly rent (AMR) for the Canadian residential portfolio increased by 5.7% year-over-year [8]. Strategic Initiatives - CAPREIT completed $400 million in strategic dispositions in Canada and Europe, with additional divestments of approximately $522 million expected from the Netherlands [8]. - The company reinvested $137 million of net proceeds into acquiring high-quality mid-market rental properties at prices below replacement cost [8]. - CAPREIT's normal course issuer bid (NCIB) program saw the purchase and cancellation of approximately 0.6 million Trust Units at an average price of $42.79 per unit [8][12]. Balance Sheet Highlights - Total debt to gross book value was 37.7%, down from 38.4% at the end of 2024 [5]. - Cash and cash equivalents stood at $119.0 million, with available borrowing capacity of $195.6 million [5][16]. - Unitholders' equity was approximately $8.99 billion, with a net asset value (NAV) per unit of $55.56, slightly up from $55.50 at the end of 2024 [5][16]. Subsequent Events - CAPREIT announced the sale of 1,446 residential suites in the Netherlands for approximately $522 million, expected to close between early August and mid-September 2025 [16]. - The company acquired an additional 102 suites in Montréal for $39.7 million in April 2025 [16].