CAPREIT is founded by Dick Kadish along with Ernie Heymann and Rick Band.
CAPREIT secures a $95 million line of credit from GE Capital and $40 million convertible mezzanine debt financing from Starwood.
CAPREIT expands its portfolio to 40 properties and recapitalizes with Apollo and GECC. CAPREIT also pioneers the total rate-of-return swap program within the multifamily industry with Merrill Lynch.
CAPREIT begins a long-standing relationship with MMA Financial by acquiring a $158 million portfolio. CAPREIT also obtains a $200 million Fannie Mae credit facility.
CAPREIT acquires approximately $125 million with new equity partner Praedium. It begins another long-standing relationship with Eastham Capital, acquiring approximately $50 million in assets.