Ten of these properties totalling 411 residential units are owned by Vancouver-based Hollyburn Properties, which listed the properties for sale on CBRE last fall. The remaining units are being acquired from five unnamed parties.
A release states InterRent will manage the properties, and the acquisitions will be financed by a combination of cash and new short-term debt of about $190 million. The acquisitions are slated to close before the end of this month.
“Vancouver Legacy Portfolio” of rental housing properties listed for sale by Hollyburn Properties. (CBRE)
This portfolio provides newcomer InterRent with critical mass in Metro Vancouver, where rental housing demand is exceptionally strong.
Purchases of goods and services from Ottawa small businesses to help community s most vulnerable From left, Gary Zed with his fiancée, Liza Mrak, and sons Liam and Colin (absent is daughter Olivia) on Tuesday, Dec. 22, 2020 at a BBQ to feed the hungry at The Ottawa Mission as one of more than a dozen community projects launched by Zed and his family to help local charities and small businesses. Photo by Caroline Phillips
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