10-story Toronto apartment building sold

Transaction valued at $43 million

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Morguard Investments Limited has acquired a 100 percent leasehold interest in a newly constructed 10-story, 232-suite rental apartment building in Toronto's Fashion/Entertainment District, the company announced Wednesday. The $43 million acquisition was on behalf of Morguard Residential Properties Inc. (MRP-1), a closed-end pooled fund that invests in multi-residential properties across Canada. Morguard Investments was established in 1975 and today has more than $5.4 Billion in assets under management. The company provides a full range of real estate portfolio, asset, and property management services....