Dream Finalizes 912 Apartment Acquisition in Toronto
1 min read
A partnership of three Dream entities recently announced that they have closed on acquiring two apartment properties on John and Jarvis Street in Toronto. The acquisition consists of the Weston Common mixed-use apartment complex and another smaller building, comprising 912 units with a $378 million price tag.
During the announcement, Michael Cooper, Chief Responsible Officer of Dream Unlimited, stated, “The successful acquisition of these apartments accelerates the growth of our income property portfolio and increases the proportion of our assets that generate recurring income.
The properties have been acquired in a joint venture between Dream Unlimited Corp. (DRM-T), Dream Impact Trust (MPCT-UN-T) and the Dream Impact Fund. Each of the entities holds a one-third interest in the portfolio. Dream intends to increase the number of affordable units in the complex, implement social programming and encourage environmental sustainability.
Learn more about the acquisition.
Reference
Dream closes on Toronto Acquisitions, 912 apartments: RENX - real estate news exchange. RENX. (2021, October 8). Retrieved October 19, 2021, from https://renx.ca/dream-closes-on-toronto-acquisitions-912-apartments/.
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