US EditionCAPREIT Completes Sale of International Plaza to Nch'ḵaý Development Corporation
CAPREIT sold International Plaza's 471 residential suites and 11 commercial units for $54.2 million to the Squamish Nation's economic group to support Indigenous economic leadership.
- CAPREIT has finalized the transaction transferring its interest in the land lease of the International Plaza property in North Vancouver to Nch'5ay Development Corporation.
- CAPREIT acquired International Plaza in 2004 and decided to transfer ownership back to the Squamish Nation to support its economic leadership.
- International Plaza comprises 471 residential units and more than 65,000 square feet of commercial space situated on reserve land within the Xwemelch'stn community of the Squamish Nation.
- CAPREIT sold the property for $54.2 million excluding transaction costs, with CEO Mark Kenney expressing honor in contributing to the Squamish Nation's leadership journey.
- The sale returns property control to Squamish Nation, enabling them to invest in capital improvements and preserve resident living quality while advancing economic sovereignty.
12 Articles
12 Articles
CAPREIT Completes Sale of International Plaza to Nch'ḵaý Development Corporation
This news release constitutes a "designated news release" for the purposes of CAPREIT's prospectus supplement dated May 15, 2025, to its short form base shelf prospectus dated May 15, 2025. TORONTO, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX:CAR) announced today that it has completed the sale of its land lease interest on International Plaza ("International Plaza"), a property l…
CAPREIT Sells International Plaza In North Van To Squamish Nation For $54.2M
On Wednesday, CAPREIT (TSX: CAR.UN) and Nch’ḵay̓ — the economic development arm of the Skwxwú7mesh Úxwumixw (Squamish Nation) — jointly announced that they had completed a transaction pertaining to the International Plaza Apartments in North Vancouver.The International Plaza Apartments are located at 1959-1999 Marine Drive in North Vancouver, at the southwest corner of the intersection with Capilano Road. The property consists of two high-rise t…
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