True North Apartment REIT adds to its Ontario portfolio with off-market acquisition

True North Apartment REIT announced that it will acquire four multi-family properties in Ontario for an aggregate purchase price of $25.7 million. The properties consist of four mid-rise buildings and a townhouse complex, and are located in Kitchener, Guelph and Brantford. Originally constructed between 1968 and 1972, the properties comprise a total of 265 suites, the majority of which are two bedroom units with an average in-place rent of $833 per suite.