To say the past 24 months weren’t kind to companies like Minto that rent apartments in urban cores would be an understatement – but Michael Waters says that's all about to change.
Ottawa-based firm is lending its sister company, Minto Properties, more than $50 million to invest in a joint venture that will see B.C. mall converted into mixed-use multi-residential property.
Minto Properties will construct the nine-storey building with about 230 rental suites at a one-acre site on Beechwood Avenue, and the REIT will have the option to purchase it at a discount.
The move allows Minto to fast-track the process of issuing new units on the Toronto Stock Exchange as a means of raising capital to acquire more property.
The REIT is providing $11.9 million for a joint venture between Minto Properties, and a subsidiary of B.C.-based Darwin Properties to build the first phase of a master-planned community in North…
Minto’s real estate investment trust has acquired a stake in a three-tower Toronto property from its sister company
One of Ottawa’s largest real estate firms could take its first steps into public markets as soon as next week, according to recently filed documents.