Minto Acquires Residential and Commercial Assets in Craig Henry

OTTAWA, Dec. 5, 2012 /CNW/ - Minto Properties announced today that it has closed on the purchase of a multi-residential and commercial real estate portfolio in the Nepean community of Craig Henry.  Included in the private sale are 134 residential rental units in two low-rise apartment buildings, 369 townhomes and 21,779 sq ft of office/retail space.  These assets are joining a portfolio owned by Minto Multi-residential Income Partners 1, LP, a private real estate investment partnership assembled earlier this year by Minto.

The purchased assets include the Cambridge apartment buildings located on Craig Henry Drive, townhomes in Auburn Woods at Craig Henry and Greynam Court, plus adjacent plazas Craig Henry Mews and Craig Henry Plaza.  According to Minto Properties President Rob Pike, "the location and demographics of this affordable community are ideal to leverage the synergies that already exist within our property management division.  As one of the city's largest private residential landlords, Minto has built and manages numerous other rental properties in Ottawa's west end in addition to other parts of the region."

A belief in a better way and a strong desire to deliver value, innovation, lifestyle, design, sustainability and quality are the cornerstones of Minto's strategy for success.  Branded under a new banner called South Centrepointe, the neighbourhood will see capital improvements and energy retrofits totaling more than $2.7 million in the coming months.  These enhancements demonstrate Minto's ongoing commitment to lower resource use and environmental impact while delivering a superior customer experience.

Headquartered in Ottawa, Minto is a diversified real estate company with home building and property management operations in the Nation's Capital, the GTA, London, Calgary and South Florida.

Backgrounder

The Minto Group is a family-owned, fully integrated real estate development, construction and management company with operations in Ottawa, Toronto, London, Calgary and south Florida.  Since 1955, the Company has built more than 70,000 new homes.  Minto currently manages more than 15,000 residential rental homes and apartments and carries a commercial portfolio of more than 2.7 million square feet of office, retail and industrial space.  In addition to these holdings, the Company owns and operates a CAA/AAA Four Diamond hotel in downtown Ottawa as well as Canada's largest portfolio of executive furnished suites.

SOURCE: The Minto Group

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Media Contacts

Rob Pike
President, Minto Properties
416-977-0777