Canadian real estate investment trust (REIT) company InterRent REIT has agreed to buy a portfolio of 5 properties in Montreal totaling 253 suites for $59 million.
The 5 properties, situated in Westmount, Hampstead, and Notre-Dame-de-Grâce, consist of a desirable suite mix featuring 2 bachelor, 100 one-bed, 140 two-bed, and 11 three-bed apartments.
The portfolio has sustained capital renovations including state-of-the-art elevators, new boilers, refurbished balconies and deluxe in-suite finishes.
This purchase, anticipated to be finalized in mid-February, will bring the company’s Montreal total to 1,898 apartments.