Minto Apartment REIT Completes the Lonsdale Square Acquisition

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[{"type":"text","content":"\n\n\n\n Minto Apartment REIT Completes the Lonsdale Square Acquisition\n \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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n OTTAWA, ON\n \n\n ,\n \n\n Jan. 15, 2025\n \n\n /CNW/ - Minto Apartment Real Estate Investment Trust (the \"REIT\") (TSX: MI.UN) announced today the closing of its previously announced acquisition of a 50% managing ownership interest in Lonsdale Square, located in\n \n North Vancouver\n \n . The discounted purchase price to the REIT of\n \n $52.9 million\n \n was funded through the assumption of the entire\n \n $52.9 million\n \n mortgage on the property, for which the REIT will be solely responsible. The REIT has also received, concurrently with closing of this acquisition, repayment of the\n \n $14 million\n \n outstanding convertible development loan associated with the asset.\n \n\n\n\n\n\n\n\n\n\n About Minto Apartment Real Estate Investment Trust\n \n\n\n Minto Apartment Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of\n \n Ontario\n \n to own income-producing multi-residential properties located in\n \n Canada\n \n . The REIT owns a portfolio of high-quality multi-residential rental properties located primarily in urban centers in\n \n Canada's\n \n major markets of\n \n Toronto\n \n ,\n \n Montreal\n \n ,\n \n Ottawa\n \n ,\n \n Calgary\n \n and\n \n Vancouver\n \n . For more information on Minto Apartment REIT, please visit the REIT's website at:\n \n www.mintoapartmentreit.com\n \n .\n \n\n SOURCE Minto Apartment Real Estate Investment Trust\n \n\n\n\n\n\n View original content to download multimedia:\n \n http://www.newswire.ca/en/releases/archive/January2025/15/c8241.html\n \n\n\n\n\n","length":4443,"tagName":"div"}]

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