2024
On December 16, 2024, Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”)
declared a special non-cash distribution of $1.18 per Unit, paid in Units of CAPREIT
(the “Additional Units”) on December 31, 2024 to Unitholders of record at the close of
business on December 31, 2024 (the “Special Distribution”). The Special Distribution was
principally made to distribute to Unitholders a portion of the net capital gains
of CAPREIT realized during the twelve-month period ended December 31, 2024, and was
therefore in the form of a capital gain to Unitholders for Canadian income tax
purposes.
Taxable Canadian-resident Unitholders will generally be required to include their
proportionate share of CAPREIT’s income and net taxable capital gain, as allocated and
designated by CAPREIT, in computing their respective income for the tax year that
includes the year end of CAPREIT (i.e., December 31, 2024).
The non-cash Special Distribution was paid at the close of business on December 31, 2024
through the issuance of the Additional Units. The number of Additional Units issued was based on the dollar amount of the Special Distribution divided by the
closing price of the Units on the Toronto Stock Exchange on December 31, 2024.
Immediately after the payment of the Special Distribution, the issued and outstanding Units
of CAPREIT were consolidated such that the aggregate number of issued and outstanding
Units was the same as immediately before the Special Distribution. For Unitholders
who are residents of Canada for Canadian federal income tax purposes, the amount of the
Special Distribution increased the adjusted cost base of Unitholders’ consolidated
Units. Unitholders who are not resident in Canada for Canadian federal income tax
purposes may be subject to applicable withholding taxes in connection with the payment
of the Special Distribution.
CAPREIT cautions that the foregoing comments are not intended to be, and should not be
construed as, legal or tax advice to any Unitholder. CAPREIT recommends that Unitholders
consult their own tax advisors regarding the income tax consequences to them of this Special Distribution and related Unit consolidation.
Please refer to CAPREIT's press release here.
2023
On December 15, 2023, CAPREIT declared a special non-cash distribution of $0.49 per Unit,
paid in Units of CAPREIT on December 29, 2023 to Unitholders of record at the close of
business on December 29, 2023.
For more information on CAPREIT’s 2023 special distribution, please refer to CAPREIT’s press
release here.
2022
On December 15, 2022, CAPREIT declared a special non-cash
distribution
of $0.36 per Unit, paid in Units of CAPREIT on December 30, 2022 to Unitholders of
record at the close
of business on December 30, 2022.
For more information on CAPREIT’s 2022 special distribution,
please refer to
CAPREIT’s press release
here.
CANADIAN APARTMENT PROPERTIES REAL ESTATE INVESTMENT TRUST
Stephen Co, Chief Financial Officer