Minto Apartment REIT loans sister firm $50M for Beechwood project
Minto Apartment Real Estate Investment Trust is providing more than $50 million in financing for a subsidiary of Minto Properties to develop a multi-residential property in New Edinburgh. The REIT says it will contribute up to $51.4 million to the project, which will see its sister firm construct a nine-storey building with about 230 rental suites at a one-acre site on Beechwood Avenue. Minto Apartment REIT said the units are expected to range from studio apartments to two-bedroom suites, adding the development will also include about 6,000 square feet of ground-floor retail space. Under th...