Minto paid $94.55M for Craig Henry community: records

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Recently published data shows one of the city’s largest residential landlords paid $94.55 million for a multi-residential and commercial portfolio in Nepean.

Minto announced its acquisition of the Craig Henry community - which includes 369 townhomes, 134 residential rental units inside a pair of low-rise apartment buildings as well as nearly 22,000 square feet of office/retail space - earlier this month but did not disclose the price.

The figure was subsequently released by RealTrack, a property transactions data firm, and would likely make the purchase Ottawa’s tenth-largest sale of 2012, based on published records.

The properties are located east of Greenbank Road and west of Woodroffe Avenue, between a rail line and a hydro corridor.

A report published by real estate services firm CBRE this week showed multi-residential housing is one of Ottawa’s hottest asset classes. The company projects $379 million worth of multi-residential assets will be sold in 2012, an increase of roughly two-thirds over last year.