Canada-based Minto Apartment Real Estate Investment Trust (Minto REIT) has entered into an agreement to fully acquire both Le 4300 and Haddon Hall in Montreal.
Constructed in 1928, Le 4300 is a 12-storey, 62-year-old building in Montreal’s affluent Westmount neighbourhood whereas Haddon Hall is a series of 10 six- and seven-storey buildings.
Minto REIT plans to pay $281.1 million for the two residential properties that are primed for renovation and higher yields on rent. The properties have both begun repositioning programs as of late.
The acquisition is anticipated to be completed next month and will add 528 suites to Minto REIT’s portfolio in the Quebec metropolis.