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InterRent REIT Sells Kingston Multifamily Portfolio


InterRent REIT has sold its Kingston multifamily portfolio for $21.2M. The disposition of the properties—202 suites at 276 and 286 Conacher Dr (above); and 44, 54, 66, 80 and 118 Virginia St—is part of the REIT’s strategy to recycle capital from non-core markets and redeploy those funds into “repositioning opportunities” in core growth markets, notes CEO Mike McGahan. The Kingston portfolio sale, coupled with recent dispositions in Belleville, Brantford and Brampton, brings InterRent’s 2016 sales to 461 suites, totalling $52.4M.