In a separate transaction, CREIT has sold its multifamily facility of 287 units located in Pointe-Claire, Quebec, for gross proceeds of $24.65 million, The new owner will assume $15.1 million in debt after the closing, which is scheduled for May 1. The debt carries a weighted average interest rate of 6.02%. DS Marcil Realty represented CREIT; the names of the new owner and its representative in the transaction were not available.
Established in 1984 and organized as a REIT in 1993, the Toronto-based firm owns more than 100 retail, office, industrial and multifamily properties throughout Canada and in metropolitan Chicago.
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