InterRent expands Montreal holdings

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A day after expanding its Ottawa holdings with a multi-family portfolio in Brittania, InterRent Real Estate Trust announced Thursday it has acquired a 280-suite high-rise in Montreal.

The deal is worth $32.4 million and is expected to be completed by mid-March.

With the acquisition, InterRent now has 781 suites in Montreal.

“This is an ideal acquisition for InterRent as it allows us to grow in the Montreal market while leveraging our knowledge, experience and branding from our existing Côte St-Luc operational team and properties,” CEO Mike McGahan said in a statement, adding the REIT will continue to look for growth opportunites in the Montreal market.