Minto Apartment Real Estate Investment
Minto Apartment Real Estate Investment
Sector: Real Estate
Description
Minto Apartment Real Estate Investment Trust focuses on high-quality rental properties across Canada.
The unincorporated trust was formed under the official laws of Ontario in April 2018.
The Ottawa-based REIT went public in July 2018. Its units with the symbol ‘MI.UN’ trade on the Toronto Stock Exchange.
Minto Apartment REIT owns and operates an income-producing portfolio of multi residential rental assets across key urban hubs in Canada.
The real estate investment trust presently owns 29 residential properties and 7,243 suites.
The Canadian REIT’s portfolio of properties are located in the urban markets of Toronto, Ottawa, Montreal, Calgary and Edmonton.
Over the last three years, the real estate investment trust claims to have invested C$55 million of capital, including an investment of nearly C$29 million in 2017 alone, in its diversified asset portfolio.
In addition, the real estate investment trust reportedly offers sustainable distribution and long-term investment opportunities to its unitholders through internal and external growth initiatives.
In December 2020, the publicly listed REIT eand a subsidiary of Darwin Properties entered into a 50-50 joint venture to develop a Phase I of Lonsdale Square, a master planned community in the north Vancouver.
The real estate investment trust agreed to provide C$11.9 million for the joint venture partnership and entered the Greater Vancouver market with this deal.
On April 29, 2021, Minto Apartment REIT entered into an agreement to finance Minto Properties Inc’s subsidiary with C$ 51.4 million for the development of Beechwood properties in Ottawa, Ontario.
Beechwood properties consist of approximately one acre of land in front of Beechwood Avenue in New Edinburgh.
The Minto Group owns 49 per cent stake in the REIT business. The integrated real estate company, Minto Group, manages the REIT’s operations internally, including its asset management and property management functions.
The Canadian real estate investment trust reportedly monitored and implemented safety guidelines in response to COVID-19 pandemic across its business operations.
Peers
WIR.U
WPT Industrial Real Estate Investment
YEG
Yorkton Equity Group Inc.
CHS.UN
Chartwell Retirement Residences
APR.UN
Automotive Properties Real Estate Invest
ERE.UN
European Residential REIT
SUM.UN
Summit Industrial Income REIT
HOM.U
BSR Real Estate Investment Trust
FCR.UN
First Capital Real Estate Investment
FCA
Firm Capital Apartment Real Estate Inves
CRR.UN
Crombie Real Estate Investment Trust
PKT
Parkit Enterprise Inc.
REAX
Real Brokerage Inc. (The)