Canadian Apartment Magazine - Transactions
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Transactions

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Chartwell acquires two residences in Quebec

Chartwell Retirement Residences has agreed to acquire a 65-unit long-term care residence and a 171-unit independent supportive living residence located at the Cité-Jardin complex in Gatineau, Que.
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New and notable transaction

In early May, 77 Roehampton Ave. changed hands. The vendor, Elserg Investments Ltd., sold the 81-unit building to Q-Residential for $20.5 million.

Urbanfund completes Quebec acquisition

Urbanfund has completed the acquisition of 10 per cent of a 1,870 unit multi-family residential portfolio located in Quebec City and Montreal.
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Morguard completes acquisition of six assets

Morguard North American Residential Real Estate Investment Trust (REIT) has completed the purchase of six multi-unit residential properties from an institutional fund sponsored by Pearlmark Real Estate Partners for $218 million US ...
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InterRent announces $35 million acquisition

InterRent Real Estate Investment Trust (REIT) has entered into an unconditional agreement to acquire three highrise buildings in ...

New and notable transaction

One of Toronto’s most recognizable downtown apartment complexes changed hands for the second time since it was built in 1988.
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Centurion acquires student residence in Waterloo

Centurion Apartment REIT has acquired a new, purpose-built, 205-unit student residence serving Wilfred Laurier University and the University of Waterloo.

New and notable transaction

Flagship Property Ventures Corp. purchases 50 Driftwood Ave. in Toronto, for $11.3 million.

New and notable transaction

The Russell Hill Road properties were the setting for 2013’s most notable apartment investment transaction to date.
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Brookfield acquires U.S. apartment communities

Brookfield Asset Management Inc. has acquired 19 apartment communities with 4,892 units located in North Carolina, South Carolina and Virginia, for a total of $414 million from Babcock & Brown Residential.
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True North REIT completes four acquisitions

True North Commercial REIT has completed four acquisitions: two in Ottawa, and one each in Miramichi, N.B., and Toronto.

Urbanfund enters purchase agreement

Urbanfund Corp. has entered into a conditional purchase agreement with an arm’s length party for the acquisition of 10 per cent of an 1,870 unit multi-family residential portfolio located in Quebec City and Montreal.
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Tricon acquires new rental portfolio

Tricon Capital Group Inc. has acquired a 550-unit portfolio of homes in Charlotte, N.C., for $26 million US. The portfolio was assembled over several decades by a private individual and has an occupancy rate of approximately 95 per cent.
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InterRent announces Montreal acquisition

InterRent Real Estate Investment Trust (REIT) has entered into an agreement to acquire a four-building apartment complex situated in Côte Saint-Luc in Montreal. The complex consists of 174 suites.
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Morguard acquires U.S. multi-family assets

Morguard North American Residential Real Estate Investment Trust (REIT) has finalized two separate agreements to acquire a total of 6,474 multi-family residential units in the U.S. for approximately $633 million US.