Equiton Residential Income Fund Trust announced it has acquired a multifamily residential property located in Brampton, Ontario, for $63.25 million. Once known as Braemar Place, the 15-storey building located opposite the Bramalea City Centre shopping centre has 153 spacious, renovated units and 198 combined indoor and outdoor parking spots. Other amenities include storage lockers, bicycle storage, a playground and an outdoor swimming pool.

After 74 consecutive months of positive returns since its inception, Equiton now has 29 properties in 15 communities across Southern Ontario for a total unit count of 2,117. The company says adding these additional units to its growing portfolio will further enhance operational efficiencies and management synergies.

“We are truly excited to be expanding our presence in the GTA with this acquisition,” said Jason Roque, Equiton Founder and Chief Executive Officer. “With its large suites, sought-after amenities, and ideal location close to transit, shopping and dining, this property will appeal to a diverse renter base. Furthermore, the significant capital investments made recently to improve the building and renovate the suites, makes this a strong addition to our Apartment Fund, which will benefit our investors.”

The Equiton Apartment Fund is a private real estate investment trust. The strategy of the Fund is to acquire existing apartment buildings and apply its expertise and comprehensive management approach to create significant value for its investors.

Visit equitonliving.com for more information.