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Canadian Apartment Properties REIT buys stake in Toronto property

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Canadian Apartment Properties REIT buys stake in Toronto property

Canadian Apartment Properties Real Estate Investment Trust bought a 19.8% stake in 506 units of a newly developed property in Toronto for C$36 million subsequent to the second quarter.

The Toronto-based multifamily real estate investment trust, in reporting its second-quarter earnings, said it funded the acquisition using its acquisition and operating facility.