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.
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
SOURCE: The Minto Group
For further information:
President, Minto Properties