Brief: Tricon And CPP Investments Announce C$500 Mln Toronto Multi-Family Development Joint Venture

Tricon Residential

23/03/2021 10:07

March 23 (Reuters) - Tricon Residential Inc  TCN.TO :
    * TRICON AND CPP INVESTMENTS ANNOUNCE C$500M TORONTO
MULTI-FAMILY
DEVELOPMENT JOINT VENTURE
    * TRICON - JV'S EQUITY CAPITAL ALLOWS FOR EXPECTED
DEVELOPMENT OF
2,000-3,000 UNITS AT GROSS DEVELOPMENT COST OF ABOUT C$1.4
BILLION, INCLUDING LEVERAGE
    * TRICON - EXPECTS TO MAINTAIN ITS CAPITAL ALLOCATION BELOW
10%
FOR DEVELOPMENT ACTIVITIES, WITH OVER 90% ALLOCATED TOWARDS
STABILIZED RENTAL ASSETS

Source text for Eikon:  ID:nCNW5TpPNa 
Further company coverage:  TCN.TO 

 ((Reuters.Briefs@thomsonreuters.com;))