GREY:MSTUF - Post by User
Post by
retiredcfon Jun 02, 2015 9:49am
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Stocks to Watch
Stocks to Watch
| Tuesday’s small-cap stocks to watch
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TIM SHUFELT
Tuesday, June 02, 2015
Our roundup of Canadian small-caps making news and on the move today.
Milestone Apartments REIT (MST.UN-T) said it has entered into an agreement to purchase an apartment property in Charlotte, N.C., for $32.2-million (U.S.). The 252-unit, Class-A multifamily apartment community is 95 per cent occupied at average in-place rents higher than the REIT’s portfolio average. “Upon completion of this acquisition, the REIT will have a presence in nine States and 14 high-growth U.S. markets,” said Robert Landin, CEO of Milestone. “The population and employment growth in Charlotte is expected to exceed that of the U.S. average over the next five years, and fits our target profile as a major U.S. metropolitan market showing favourable demographic and employment trends.”
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