Minto Apartment REIT Announces Agreements to Acquire Interests in Two Urban Properties for a Cumulative Purchase Amount of $209 Million Concurrent with a $150 Million Bought Deal Public Offering of Trust Units

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[{"type":"text","content":"\n\n\n\nMinto Apartment REIT Announces Agreements to Acquire Interests in Two Urban Properties for a Cumulative Purchase Amount of $209 Million Concurrent with a $150 Million Bought Deal Public Offering of Trust Units\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, April 4, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES/\nAcquisition of interests in two high quality multi-residential rental properties in Montreal and Toronto, comprising a total of 1,413 suites Acquisition of interests represents the REIT's entry into the strong Montreal rental market with immediate scale Consistent with stated strategy of executing on acquisitions, increasing portfolio diversification in core urban markets and leveraging strategic Minto Group relationship Enhances portfolio quality and diversification to drive long term Unitholder value OTTAWA, April 4, 2019 /CNW/ - Minto Apartment Real Estate Investment Trust (TSX: MI.UN) (the \"REIT\") today announced that it has entered into two separate agreements to acquire interests in two multi-residential rental properties comprising 1,004 suites in Montréal, Québec and 409 suites in Toronto, Ontario (the \"Acquisitions\"). Specifically, the REIT will acquire 1) a 50% interest in the 1,004-suite Rockhill Property in Montréal (\"Rockhill\"), and 2) a 50% interest in the 409-suite Leslie/York Mills apartment complex in Toronto (\"LYM\"). Total consideration for the Acquisitions is approximately $209 million at the REIT's share. After completing the Acquisitions, the REIT will have ownership interest in 5,962 suites, which is an increase of 1,683 suites since its initial publ...

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