Brief: Minto Apartment REIT Enhances Portfolio Size And Diversification With Acquisition Of Two Calgary Buildings And Provision Of Financing For The Redevelopment Of An Ottawa Property

Minto Apartment Real Estate Investment Trust

22/11/2018 22:12

Nov 22 (Reuters) - Minto Apartment Real Estate Investment
Trust  MI_u.TO :
    * MINTO APARTMENT REIT ENHANCES PORTFOLIO SIZE AND
DIVERSIFICATION
WITH ACQUISITION OF TWO CALGARY BUILDINGS AND PROVISION OF
FINANCING FOR THE REDEVELOPMENT OF AN OTTAWA PROPERTY
    * MINTO APARTMENT REIT- WAIVED ITS CONDITIONS UNDER A
DEFINITIVE
AGREEMENT TO PURCHASE TWO URBAN MULTI-RESIDENTIAL RENTAL
BUILDINGS
    * MINTO APARTMENT REAL ESTATE INVESTMENT TRUST - DEAL FOR
TOTAL
CONSIDERATION OF APPROXIMATELY $63.8 MILLION
    * MINTO APARTMENT REAL ESTATE INVESTMENT TRUST - PURCHASE
PRICE
WILL BE SATISFIED WITH NEWLY ARRANGED TERM MORTGAGE, EXISTING
CREDIT FACILITY
    * MINTO APARTMENT REIT- TO ADVANCE UP TO $30.0 MILLION OF
FINANCING IN SUPPORT OF MPI'S PLANNED REDEVELOPMENT OF A
COMMERCIAL PROPERTY
    * MINTO APARTMENT REIT - INTENDS TO FUND FINANCING THROUGH
DRAWS
ON ITS REVOLVING CREDIT FACILITY

Source text for Eikon:  ID:nCNW6C43Ja 
Further company coverage:  MI_u.TO 

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