Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) announced on February 22, 2024, the launch of an at-the-market (ATM) offering to distribute trust units valued up to CAD 400 million. TD Securities Inc. serves as the exclusive agent for this equity distribution. The sales will be conducted on the Toronto Stock Exchange (TSX) at prevailing market prices, with proceeds earmarked for property acquisitions, debt repayment, and general trust purposes.

The offering remains open until the earlier of June 9, 2025, the full sale of units, or at CAPREIT’s discretion. Agent compensation under the agreement is capped at 2% of gross proceeds per sale, and CAPREIT bears estimated initiation expenses of approximately CAD 0.8 million. This ATM distribution method allows sales based on market demand and may lead to investor dilution if sales increase during market downturns.

CAPREIT's legal representation is provided by Torys LLP, while TD Securities is advised by Osler, Hoskin & Harcourt LLP. The TSX conditionally approved the listing, contingent on CAPREIT meeting listing requirements before the initial sale.