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Minto Apartment REIT(MI-UN-T)

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Minto Apartment REIT Completes $86 million Sale of Two Properties to Ottawa Community Housing Corporation - Thu Feb 15, 4:00PM CST

OTTAWA, ON, Feb. 15, 2024 /CNW/ - Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) announced today the successful completion of its previously announced sale of the Tanglewood and Chesterton/Bowhill properties located in Ottawa, Ontario, to Ottawa Community Housing Corporation for gross proceeds of $86 million. The net proceeds of $68 million, after mortgage repayments and disposition costs, will be used to repay a portion of the variable-rate debt under the REIT's revolving credit facility.


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