Hot housing markets in Ontario and Quebec fuelled growth for Ottawa-based InterRent REIT in its most recent quarter.
The real estate investment trust reported funds from operations – a key financial metric for REITs – of $13.4 million for the three months ended June 30. Those figures are up $2.5 million, or 22.9 per cent, compared to the same quarter last year.
As of June 2019, InterRent’s vacancy rate across its portfolio sat at 4.7 per cent, down from six per cent a year ago.
OBJ360 (Sponsored)
Kingston manufacturers winning on the global stage with innovative products
Darrell Searles says Anchor Concrete wants to revolutionize the homebuilding industry—and the Kingston-based company has been doing exactly that through its innovative precast concrete building solutions. “We want to do
Navigating the Second Trump Administration: Insights for Canadian Businesses
As Canadian businesses and governments continue to digest and consider the implications of the 2nd Trump administration, Fasken is leading in its efforts to support our network of clients and
Mike McGahan, the REIT’s chief executive, said strong demand in Ontario and Quebec continues to drive rental growth for the firm.
Among the REIT’s quarterly highlights was the acquisition of 473 Albert St. The vacant office building just east of Bronson Avenue was bought for $21.8 million.
