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CAPREIT offloads Montreal asset for C$31.4M

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CAPREIT offloads Montreal asset for C$31.4M

CanadianApartment Properties Real Estate Investment Trust sold itsDomaine Choisyproperty containing 412 suites in Montreal for roughly C$31.4 million.

The company said it would use the sale proceeds to repay twomortgages aggregating about C$14.3 million with a 3.56% combined weightedaverage interest rate, which is above the company's current weighted averageinterest rate.