Primecorp announced that its national investment team helped facilitate the sale of assets spanning Ottawa, Toronto, Mississauga, Kitchener and Brantford in recent weeks, with two of the deals involving multi-unit apartment portfolios and the other being the $21.5-million acquisition of a 180,689-square-foot industrial building and two-storey office complex at 1165 Kenaston St., which was first announced in May.
The local transaction was carried out on behalf of KingSett Capital, and transferred the property - which is 100-per-cent leased to St. Joseph Communications on a long-term lease - to Winnipeg-based Artis Real Estate Investment Trust, marking Artis's first acquisition in Ottawa.
Primecorp noted it also worked on the sale of a 315-suite apartment portfolio by Hampton-Metrix Capital Partners Inc. to Transglobe Investment Management, involving five residential properties in Toronto and Mississauga, which closed on June 1. As well, it helped complete Timbercreek Asset Management's acquisition of another 819-suite apartment portfolio in Kitchener and Brantford from Homestead Land Holdings, a deal that wrapped up June 8.
The local company added it's in the market or under contract with an additional $232-million-worth of investment assets, including a 132,000-square-foot, five-building Kanata office complex that's currently 100-per-cent occupied by five tenants, and a 490-unit multi-family portfolio in Gatineau and Aylmer.