DEAL | Boardwalk REIT acquired three townhouse rental projects in Saskatchewan from North Prairie Developments Ltd. on July 23 for $71.1 million. Totaling 235 suites of newer townhomes, the off-market transaction included Regina’s Parkplace (66 units) and Saskatoon’s Kingspoint (83 units) and Bravo (86 units) developments. The portfolio sold for an average of $303,000 per unit with a cap rate of 5.2 per cent. The units sold represent approximately a fifth of North Prairie’s portfolio of 1,200 units.
PRICE | $71,100,000
FROM | Andrew Williams, North Prairie Developments Ltd.
