Marlin Spring and Greybrook Realty Partners have acquired a portfolio of rental properties in Ottawa, Ontario, and Gatineau, Québec. The properties consist of 520 residential units within 4 apartment buildings.
The Ottawa property is located close to the downtown core, Ottawa’s two major universities, with excellent transit and highway access, and will benefit from the continued gentrification of the surrounding neighbourhood. The Gatineau property is also well placed in close proximity to downtown Hull (Gatineau’s core business district) and downtown Ottawa, with access to schools, the Hull hospital campus and Gatineau Park.
“The Ottawa-Gatineau region is benefiting from accelerating population and labour market growth while the strong demand for rental has driven down the region’s vacancy rate over the past few years. This acquisition, at a price below replacement value, is in line with our principled acquisition protocol and accretive to our growing, diversified portfolio,” said Ben Bakst, CEO, Marlin Spring.
Read the full news release here: