On September 1, 2005, Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) acquired, through its nominee Capreit Apartments Inc., from LSR Construction Ltée 1,431 residential suites and 18 commercial units in 34 buildings located in the Greater Montréal Area. The LSR apartment portfolio has been purchased for approximately $79 million with approximately $52.2 million of five to seven-year mortgages granted by the Canada Life Assurance Company and London Life Insurance Company.

The lenders were represented by Fasken Martineau with a team that included Richard Clare, Marie-José Roux-Fauteux and Tasha Lackman.