InterRent REIT completes $170.7 million portfolio acquisition in Southwestern Ontario

On September 21, 2020, InterRent Real Estate Investment Trust (TSX: IIP.UN) completed its previously announced acquisition of a portfolio of five concrete mid- and high-rise apartments located in Southwestern Ontario. Three of the five properties are located in Hamilton and the remaining two are in London. 

The portfolio was purchased for $170.7 million and was financed with a combination of cash and new mortgage debt.

InterRent is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.  

Gowling WLG advised InterRent with respect to this acquisition with a team that included Sarah Crowe, Emma Clarke and Michael Clancy.