What Capreit does

CAPREIT is a publicly traded Real Estate Investment Trust (TSE:CAR) that acquires, develops, and manages multifamily apartment communities, with operational headquarters in North Bethesda, Maryland, and over $6 billion of multifamily assets under management in the U.S. The company is described in its own materials as a "fully integrated real estate operating company" offering end-to-end services spanning acquisition, asset management, development, due diligence, property management, renovations, and in-house construction — supported by in-house accounting, legal, and technology teams. Its portfolio spans market-rate, tax-credit/LIHTC, tax-exempt bond-financed, build-to-rent, student housing, and senior living communities, with service lines directed both at owned assets and at third-party owners seeking professional management. Its domestic footprint is organized around seven regional operating offices (Richmond, Minneapolis, St. Louis, Nashville, Orlando, Indianapolis, plus North Bethesda HQ and a Philadelphia home office) covering Mid-Atlantic, Midwest, Southeast, and Florida markets, with the recent ERES transaction adding a Netherlands platform and ongoing Canadian operations tied to the Toronto Stock Exchange listing.

The business model is multi-streamed: rental income from owned properties (same-property NOI of $579.4M in 2025 at 64.7% margin, up 4.7% YoY), third-party property management fees (a stated growth emphasis, including large contracts such as AHC's 21-community/3,019-home Mid-Atlantic portfolio), asset management fees from equity partners, and transaction-related fees tied to $2B in 2025 gross acquisition and disposition volume. Customer segments include third-party multifamily owners, family offices/high-net-worth individuals/institutional equity partners (Fundamental Advisors, Principal Financial Group, The Praedium Group, Silverpeak), and residents of managed communities. Distribution is sales-led enterprise — dedicated acquisition teams sourcing through broker, co-investor, and lender relationships, targeting equity partners and third-party management contracts. Marketing and leasing is described as data-driven and adjusted in real time to manage concession exposure during lease-up, though no proprietary AI/ML product is disclosed; technology positioning centers on PropTech integration, smart-home partnerships, and engagement with industry forums on AI and analytics.

Leadership is family-led: Dick Kadish (founder, Chairman), Andrew S. Kadish (CEO/CIO since 2023, previously President; recognized as a 2024 GlobeSt. Multifamily Influencer), and Jennifer Kadish Cassell (President since 2023), with senior executives drawn from major REITs and financial institutions (Walker & Dunlop, Fannie Mae Multifamily, Equity Residential, KPMG). The company has executed several generational shifts and is executing an active 2025–2026 expansion program — adding new verticals (student housing via Coastal Village near Florida Gulf Coast University, BTR via Hart Townes, senior living via Broadway West), a third-party management anchor (AHC), and international scale (ERES) — while strengthening operational leadership with the June 2026 hire of Harlan B. Krichman as President of Property Management.

Name

Capreit

Legal name

CAPREIT, INC

Website

https://capreit.com

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

251–500 employees

Short description

CAPREIT is a publicly traded REIT (TSE:CAR) that acquires, develops, and manages multifamily apartment communities across the U.S. for institutional, family-office, and high-net-worth equity partners and residents through seven regional offices.

Ownership category

akta.pro rank

Product category

Multifamily Real Estate Management

NAICS

Residential Property Managers (531311), Services to Buildings and Dwellings (5617)

SIC

Real Estate Agents & Managers (For Others) (6531), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

Keywords

• Multifamily property management
• Real estate investment trust
• Apartment management services
• Affordable housing management
• Build-to-rent development

Headquarters

HQ city

Rockville

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Third-Party Property Management Fees: CAPREIT earns management fees from managing properties owned by third parties, including build-to-rent, market rate, tax credit, and tax-exempt bond-financed apartment communities.
2. Rental Income from Owned Properties: Revenue generated from owning and operating multifamily communities, including same property NOI of $579.4 million in 2025.
3. Transaction and Acquisition Fees: Fees earned from acquisition, disposition, and refinancing activities for owned and partner portfolios, including $2 billion in gross transaction volume in 2025.
4. Asset Management Fees: Fees from providing asset management services to investment partners, with a track record of delivering above-market returns across multiple market cycles.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Capreit is a fully integrated real estate operating company that owns, acquires, develops, and manages multifamily apartment communities across the United States and Canada. It provides third-party property management services for multifamily owners, executes lease-up and renovation programs, and offers investment and asset management services to equity partners. The company manages more than $6 billion of multifamily assets and operates seven regional offices supporting owned and third-party portfolios.

Product overview

CAPREIT is a fully integrated real estate operating company providing end-to-end multifamily property management, investment, and development services. The company does not offer a discrete software product or SaaS platform; instead, its offering consists of service lines including property management (third-party management for multifamily owners, build-to-rent, market rate, tax credit, and tax-exempt bond-financed communities), lease-up execution, pre-acquisition and operational due diligence, asset management alignment, and in-house construction and renovation services. CAPREIT manages its own portfolio of owned properties while also serving third-party owners through management contracts.

Differentiator

Problem solved

Functional benefit

Products and services

• Third-Party Property Management Services

Quantifiable outcome

• Diluted FFO per unit of $2.541 in 2025
• +4 more outcomes

Named customers7 records

Segments7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Affordable Homes & CommunitiescoreImplementation/ SI/ Consulting Partner · 23 October 2025CAPREIT selected to manage 21 communities (3,019 apartment homes) for AHC in the Mid-Atlantic region (Maryland, Virginia, and Washington, D.C.). This is a major third-party management contract representing CAPREIT's expansion in the affordable housing sector.
• Barron Collier CompaniescoreStrategic or Co-development Partner · 6 February 2025Partnership to develop Imperial 41, a mixed-use development in downtown Bonita Springs, Florida. The project includes 120 modern apartment homes and 19,000 square feet of commercial space across two buildings. CAPREIT collaborates on development while Barron Collier Companies brings local land and city relationships.
• GAFminorOthersConstruction vendor partner providing roofing materials for CAPREIT's renovation and development projects.
• GE AppliancesminorOthersAppliance vendor partner for CAPREIT's renovation and new construction projects.
• Lowe'sminorOthersBuilding materials vendor partner for CAPREIT renovation and construction projects.
• MoenminorOthersPlumbing fixtures vendor partner for CAPREIT's renovation projects.
• Mohawk FlooringminorOthersFlooring vendor partner for CAPREIT renovation and new construction.
• Sherwin-WilliamsminorOthersPaint and coatings vendor partner for CAPREIT projects.
• Home DepotminorOthersBuilding materials vendor partner for CAPREIT construction and renovation.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• AvalonBay Communities: One of the largest U.S. publicly traded multifamily REITs with a comparable mix of owned/operated Class A apartment communities and an institutional third-party management and investment platform, directly comparable to CAPREIT's owned-plus-managed model.
• Equity Residential: Large-cap publicly traded multifamily REIT historically acquiring portfolios of apartment communities (including buying out of CAPREIT's 1997 portfolio); operates a similar owned-and-operated multifamily model with regional operating structure.
• Mid-America Apartment Communities: Sun Belt-focused publicly traded multifamily REIT with a similar owned-portfolio-plus-third-party-services offering, comparable in vertical integration and exposure to U.S. multifamily fundamentals.
• Camden Property Trust: Multifamily REIT operating owned apartment communities with internal property management and development capabilities, directly comparable in business model to CAPREIT's integrated invest/build/manage platform.
• UDR Inc. Nationwide multifamily REIT that owns, operates, and develops apartment communities with a third-party services arm; comparable to CAPREIT in scale, geographic mix, and integrated operations focus.
• Essex Property Trust: Multifamily REIT focused on West Coast apartment ownership/management with development capability, comparable in vertically integrated operating platform though more geographically concentrated than CAPREIT.
• Greystar Real Estate Partners: Largest U.S. third-party multifamily property manager and investment platform; directly comparable to CAPREIT's third-party property management, acquisition, and development service lines.
• Bozzuto Group: Privately held multifamily owner/operator and third-party manager with a strong Mid-Atlantic regional footprint directly overlapping CAPREIT's core AHC affordable portfolio geography.

Broad incumbents

• Invitation Homes: Largest U.S. single-family build-to-rent REIT; comparable to CAPREIT's entry into BTR via Baldwin Chase and Hart Townes, though operates at much larger scale and as an owner-operator rather than vertical manager.

Others

• Nuveen Real Estate: Major institutional LIHTC and affordable housing investor that acquired CAPREIT's Richmond LIHTC Portfolio for ~$100M profit in 2021; comparable as an institutional counterparty/buyer of affordable housing portfolios CAPREIT originates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key highlights8 records

Customer concentration

• Facebookfacebook.com/Capreitinc
• LinkedInlinkedin.com/company/capreit-inc-
• Instagraminstagram.com/capreitinc
• Pinterestpinterest.com/wearecapreit/pins
• Xx.com/CAPREITinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Capreit