Urbanfund Corp. and Westdale Construction Co. Ltd. acquired 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia for CAD 17 million.
November 11, 2020
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Urbanfund Corp. (TSXV:UFC) and Westdale Construction Co. Ltd. acquired 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia for CAD 17 million on November 10, 2020. Under the terms of transaction, Urbanfund will acquire 20% interest and Westdale will acquire remaining 80% interest of the portfolio. The purchase price was funded by a CAD 11.8 million mortgage and the balance by pro rata equity subscriptions from the Urbanfund and Westdale.
Urbanfund Corp. (TSXV:UFC) and Westdale Construction Co. Ltd. completed the acquisition of 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia on November 10, 2020. The consideration was funded by a CAD 13 million mortgage and CAD 4 million in equity contributions.
Urbanfund Corp. is a Canada-based real estate development and operating company. The Company is focused on identifying, evaluating and investing in real estate or real estate related projects. The Company owns, develops and operates a real estate portfolio, which is focused on a mix of both residential and commercial properties. Its assets are located in Toronto, Belleville, Kitchener, London, and Brampton Ontario and in Montreal and Quebec City, Quebec and Dartmouth, Nova Scotia. Its portfolio includes One Bloor, 200 Van Horne Avenue, North Front Centre, Westborough Plaza and Edvac. Its 200 Van Horne Avenue is a rental building, which is located in Toronto, Ontario, and offers two-, three- and four-bedroom townhouse units. Its One Bloor is a multi-use complex that is located in Toronto, Ontario. Its North Front Centre is a commercial and retail building that is located in Belleville, Ontario. Its Westborough Plaza is a commercial and retail building that is located in London, Ontario.
Urbanfund Corp. and Westdale Construction Co. Ltd. acquired 110 unit The Manors Luxury Apartment Portfolio in Dartmouth, Nova Scotia for CAD 17 million.
URBANFUND CORP. 
