CAP REIT Acquires 17 Apartment Buildings

On February 1st, 2007, Canadian Apartment Properties Real Estate Investment Trust acquired 17 apartment buildings, containing in the aggregate 607 suites in three luxury multi-building portfolios in Quebec City, from Alain Saucier and Claude Beaudet for a total purchase price of $60 million.

CAP REIT was represented by Stikeman Elliott LLP with a team consisting of Valérie Mac-Seing and Philippe Tommei.

Alain Saucier and Claude Beaudet were represented by Yves Letarte and Jacques Croteau of Fasken Martineau DuMoulin LLP's Quebec office.
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