News
PROREIT Comes to Toronto With Two Industrial Acquisitions
May 21, 2015
PROREIT has made its first foray into the Toronto market with an agreement to acquire two Etobicoke industrial properties: 209 Carrier Dr (197k SF), pictured above, and 1870 Albion Rd (101k SF), both of which are 100% leased. CEO James W. Beckerleg said the deals—part of a $40.5M spree by PROREIT that also includes the acquisition of six commercial properties in New Brunswick—take his trust “across a new threshold.” PROREIT's portfolio will now include 29 properties (1.43M SF GLA) in Eastern Canada. Government and national tenants represent 85.8% of the acquired properties’ base rent.
