Our Path

Since our inception, CAPREIT has been dedicated to providing great housing to our residents, compelling investment opportunities to our investors, and rewarding career opportunities to our employees.

1993

Founded by Dick Kadish along with Ernie Heymann and Rick Band


1994

Secured a $95 million line of credit from GE Capital and $40 million convertible mezzanine debt financing from Starwood

1996

Expanded into ownership of affordable housing with the acquisition of 15 tax-exempt properties


1997

Sold its 45-property portfolio, netting a gain in excess of $125 million

2000

Expanded its portfolio to 40 properties

Recapitalized with Apollo and GECC

Pioneered the total rate-of-return swap program within the multifamily industry with Merrill Lynch


2001

Began longstanding relationship with MMA Financial by acquiring $158 million portfolio

Obtained $200 million Fannie Mae credit facility

2007

Joint ventured with Principal to recapitalize a $100 million portfolio with debt financing provided by Hartford


2009

Acquired the 240-property asset management business and general partner interests of the Credit Suisse tax credit portfolio

2012

Acquired approximately $125 million with new equity partner, Praedium

Began another longstanding relationship with Eastham Capital, acquiring approximately $50 million in assets

2015

Restructured its executive leadership through appointment of three employees: Andrew Kadish, appointed as President; Ernie Heymann, appointed as Chief Investment Officer; and Jennifer Kadish Cassell, appointed as Chief Administrative Officer

Dick Kadish serves as Chairman of the Board

Welcomed Miguel Gutierrez to the executive team as Chief Operating Officer

Acquired 9 communities, totaling $220 million


2016

Acquired 9 communities, totaling $166 million