Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) is a Canada-based open-ended real estate investment trust. CAPREIT's investment objectives are to provide unitholders with long-term, monthly cash distributions; grow normalized funds from operations (NFFO), distributions and Unit value through the management of its properties, acquisitions and financial management, and reinvest capital within the property portfolio. CAPREIT owns and operates a portfolio of multi-unit residential rental properties, including apartments, townhomes and manufactured home communities (MHC) located in and near urban centers in Canada. CAPREIT owns interests in approximately 46,790 residential units, consisting of over 40,501 residential suites and approximately 30 MHC's, consisting of approximately 6,290 land lease sites. CAPREIT owns leasehold interests in approximately 15 properties located in the Greater Toronto Area. The leases mature between 2033 and 2037.