Toronto-based REIT expands Ottawa portfolio with east end acquisition

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A Toronto-based REIT specializing in medical buildings added to its Ottawa portfolio Thursday by acquiring a building in the city’s east end.

Mohawk Medical Properties REIT, who already own the Nepean Medical Centre on Centrepointe Drive and the Kanata Medical Arts Building on Kakulu Road, has now acquired the Phenix Professional Building at 595 Montreal Rd.

Terms of the deal with previous owner Edifice Professionnel Phenix Inc. were not disclosed.

Mohawk said in a release it is excited to add the five-storey, 42,000-square foot building to its portfolio. It is promising to bring its “expertise in medical office building management” to its current 32 medical professional tenants.

Mohawk said its current “rapid expansion” is continuing with two more properties acquisitions expected to close in the next 30 days. The locations of these properties were not disclosed.