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WINNIPEG, MB, Sept. 24, 2021 /CNW/ - Marwest Apartment Real Estate Investment Trust ("Marwest Apartment REIT" or the "REIT") (TSXV: MAR.UN) is pleased to announce that it has entered into agreements, on September 23, 2021, to purchase 112 units over two adjacent multi-family residential properties (the "Element Properties") in Winnipeg, Manitoba.
The purchase consists of 112 new-generation units, which were completed between 2019 and 2021. The Element Properties are currently 99% occupied.
"We are thrilled to be able to add to our growing portfolio with this significant acquisition that will increase our current unit count by over 40%. I'm also extremely proud of our team to have been able to act on an acquisition of this quality within only 45 days of closing our most recent equity offering." said William Martens, CEO of the REIT.
https://www.newswire.ca/news-releases/marwest-apartment-reit-announces-proposed-acquisition-833437158.html