CAPREIT acquires 17 apartment buildings in Quebec City for US$60 million

On February 1, 2007, Canadian Apartment Properties Real Estate Investment Trust acquired from Alain Saucier and Claude Beaudet 17 apartment buildings containing in the aggregate 607 suites in three luxury multi-building portfolios in Quebec City for a total purchase price of $60 million. Alain Saucier and Claude Beaudet were represented by Yves Letarte and Jacques Croteau of Fasken Martineau's Quebec office.