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Toronto Mixed-Use

CAPREIT Takes Stake in Kingsclub Rental Project

Canadian Apartment Properties REIT has reached an agreement to acquire a one-third interest in the residential component of Kingsclub, a mixed-use project at 1100 King St W in Liberty Village that developer Urbancorp converted from condo to rental apartments last year (it's since been re-named King High Line). The property, being developed in partnership with First Capital Realty, will have 160k SF of commercial-retail space and three rental towers with 506 apartment units. CAPREIT will pay $60.3M for its stake in the development’s residential component, and will manage the rental properties. Closing is expected upon completion of construction in 2018.

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