True North Apartment Real Estate Investment Trust has closed the previously announced acquisition of 150 and 160 Market Street in Hamilton, Ontario, for a total purchase price of approximately $25.4 million, as well as the sale by two separate transactions of 380 Gibb Street in Oshawa, Ontario and 2292 Weston Road in Toronto, Ontario, for approximately $19.3 million and $10.2 million, respectively.

The purchaser of 380 Gibb Street has assumed the existing mortgage of approximately $10.1 million. A first ranked mortgage secured on 150 Market Street will replace a first ranked mortgage secured on 2292 Weston Road as security in place for the REIT’s revolving credit facility.

The acquisitions are comprised of two, well maintained, high-rise, concrete towers with a combined 278 residential suites that have recently undergone significant balcony and lobby upgrades.