CAPREIT announced it has purchased a newly constructed Halifax rental property, located in the suburb of Bedford, for $11.9 million.

Completed in July 2020, the Halifax rental property, known as “the Madison”, features 38 large, two-bedroom units with wide plank flooring, stainless steel appliances, quartz countertops and large walk-in closets.

Located close to grocery stores, pharmacies, restaurants and banks, amenities include a spacious modern common room, 59 parking spaces with a car wash bay, and a fully-equipped fitness facility. Each suite is individually metered for power, and occupancy currently stands at 97.4 per cent.

“We are pleased with the addition of this high-quality acquisition and continue to increase our presence in the very strong Halifax market,” said Mark Kenney, President and CEO. “Combined with our large portfolio acquisition last year, we are among the largest providers of high-quality rental accommodation in the region.”

In addition to this Halifax rental property, CAPREIT owns or has interests in approximately 67,400 residential apartment suites, townhomes and manufactured housing community sites across Canada, in the Netherlands and Ireland. More information can be found at www.caprent.com.