Ottawa-based real estate investment trust said its funds from operations rose nearly 11 per cent last year to $56.7 million.
InterRent Real Estate Investment Trust
Firm said Monday it’s teaming up with Toronto-based Crestpoint Real Estate Investments to acquire 15 properties with a total of 614 suites in Canada’s third-largest city.
InterRent's funds from operations – a key cash-flow metric for REITs – rose 7.6 per cent year-over-year to $17.2 million in the third quarter.
The nine-storey development at Richmond Road and Churchill Avenue would feature commercial space on the ground floor and residential units on the eight floors above.
Funds from operations jump nearly 25 per cent year-over-year to $14.5M.
The proposed towers are part of Claridge’s East Flats project, which calls for up to five highrises that will include more than 1.5 million square feet of residential space.
An office tower on the western edge of downtown Ottawa will soon be gutted and undergo a facelift to prepare the building’s units for residential tenants
Ottawa’s Trinity Development Group has launched the first stage of its ambitious plan to build 2,700 new rental units near light rail stops over the next several years
Trinity has struck a deal to pay into the city’s affordable housing fund, but there’s no guarantee any such units will end up in its 900 Albert St. development
The charity golf event raised nearly $760,000 in honour of Ottawa business leader Mike McCann, who passed away in February