CAPREIT Completes Sale of International Plaza to Nch’ḵaý Development Corporation

Press Release

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.

TORONTO, Sept. 10, 2025 Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) announced today that it has completed the sale of its land lease interest on International Plaza (“International Plaza”), a property located in North Vancouver, British Columbia, to Nch’ḵay̓ Development Corporation (“Nch’ḵay̓”), the economic development group of the Squamish Nation.

International Plaza was built in 1975 and contains 471 residential suites, as well as 11 commercial units comprising over 65,000 square feet of gross leasable area. The unencumbered property was sold to Nch’ḵay̓ for $54.2 million, excluding transaction costs and other customary adjustments.

“We’re honoured to take part in a transaction that transfers land back to the Squamish Nation, and contribute to their journey towards expanded economic leadership in the region, and in particular the growth of First Nations representation in the residential real estate industry in Canada,” commented Mark Kenney, President and Chief Executive Officer of CAPREIT. “We hope to continue working with organizations such as Nch’ḵay̓, that will see to the preservation of high-quality living for residents, the continued enrichment of surrounding communities, and the development of many more homes for Canadians.”

“We would like to extend our appreciation to the Canada Mortgage and Housing Corporation, and their establishment of constructive products such as the MLI Select Program, which make meaningful collaborations such as this possible,” continued Mr. Kenney. “We would also like to thank the Minister of Housing, Infrastructure and Communities for backing these important initiatives. We’re thrilled to have the opportunity to not only advance CAPREIT’s strategy and simplify its balance sheet, but also transfer our properties to the hands of respected counterparties like Nch’ḵay̓, who play a vital role in shaping and strengthening the future of housing in Canada.”

ABOUT CAPREIT

CAPREIT is Canada’s largest publicly traded provider of quality rental housing. As at June 30, 2025, CAPREIT owns approximately 45,400 (excluding approximately 1,600 suites classified as assets held for sale) residential apartment suites and townhomes that are well-located across Canada and the Netherlands, with a total fair value of approximately $14.5 billion (excluding approximately $0.6 billion of assets held for sale). For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosures which can be found under our profile at www.sedarplus.ca.

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