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Canadian Apartment buys 5-story property in British Columbia for C$33M

Canadian Apartment Properties Real Estate Investment Trust closed the purchase of the five-story, 90-suite Meridian apartment in Langley, British Columbia, for C$33.0 million.

The purchase price includes the assumption of a C$21.1 million CMHC-insured mortgage bearing an interest of 2.56% maturing on June 1, 2027.