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Pedestrians head for work among the highrise buildings at Spadina Avenue and Bremner Boulevard in Toronto. Investors can tap into the growth of commercial real estate – retail, office and rental properties – through REITs, real estate investment trusts.
Pedestrians head for work among the highrise buildings at Spadina Avenue and Bremner Boulevard in Toronto. Investors can tap into the growth of commercial real estate – retail, office and rental properties – through REITs, real estate investment trusts.
(Fred Lum/The Globe and Mail)

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New REIT raises eyebrows

What’s Daniel Drimmer up to?

That question’s been thrown around a lot in real estate circles since Mr. Drimmer surprised the market in April by privatizing TransGlobe Apartment REIT, just two years after he took it public.

Even more questions arose when Mr. Drimmer converted Wand Capital Corp., a capital pool company, into True North Apartment REIT just a few months later. Odd, it seemed, that he would take an apartment-focused real estate investment trust private, and then launch a new one shortly after.