Northern Property Real Estate Investment Trust plans to buy True North Apartments and another portfolio of 4,650 suites from the True North chairman’s Starlight Investments.
True North’s Daniel Drimmer would become the largest investor in the new firm, which will be called Northview.
The Globe and Mail
says that the company would have its head office in Calgary, where Northern is currently based.
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A deal involving around 25,000 apartments across Canada was announced Monday.