CHARLOTTETOWN, PE, Sept. 19, 2023 /CNW/ - An emerging leader in Canada's real estate industry, VIDA is excited to announce the acquisition of 111 units across six properties in Charlottetown, Prince Edward Island.

The successful transaction with Canadian Apartment Properties REIT (CAPREIT) is the first step in a long-term commitment to helping solve the Island's affordability challenges by delivering VIDA's unique brand of low-cost rental accommodation to Islanders.

Hugh Goodday, VIDA's Chief Growth Officer, has an optimistic view despite difficult market conditions: 

"CAPREIT takes excellent care of its residents and properties. It was a pleasure working alongside them on this transaction that represents a huge opportunity for VIDA. We understand PEI's challenging regulatory environment—our strategy is to work closely with the Government of Prince Edward Island to manage the high costs of responsible ownership that are obstacles to long-term affordability."

VIDA is wrapping up an active quarter having just announced the purchase of 205 units in Saint John, New Brunswick. As affordable housing remains the hot button issue nationwide, VIDA continues to face the challenge head-on with a focus on strategic investments that have a positive impact on Canadians.

VIDA: Creating Community

VIDA is revolutionizing affordable communities.

Safety & Security, Cleanliness, Opportunity and Community are the four pillars on which VIDA residents enjoy affordable rental accommodation that they are proud to call "home" and that helps them get ahead in life.

www.vidaliving.ca

For further information: For media inquiries, please contact: Joel Goodman, Public Relations & Media, joel@rflgroup.ca

Source: https://www.newswire.ca/news-releases/vida-poised-to-make-a-positive-impact-on-pei-with-recent-acquisition