Park Property Management has purchased the iconic Cherryhill Village in London, Ontario, for a record-setting $571 million. The 12-tower, 2113-unit property and shopping mall was sold by Minto, KingSett Capital and a private partner in what’s being reported as the largest reported single multi-residential asset transaction in Canada.

According to Margaret Herd, senior vice-president of Park Property Management, the company had previously sought to purchase the same portfolio back in 2011, when it was acquired by Minto Group for $215 million. With the addition of the Cherryhill Village  apartments, Park Property Management now owns 10,141 rental units in Canada and manages 11,275.

About Cherryhill Village

Built between 1968 and 1975, the towers sit on a 40-acre property, offering the new owner the opportunity for significant expansion. The mixed-use community is located in West London approximately 15 minutes from Western University.

The suites are described as spacious and pet-friendly with in-building laundry, security controlled access, private balconies, in and outdoor parking, a fitness centre, BBQ area, in and outdoor pool, sauna and tennis courts. The property is close to numerous amenities and schools, with several healthcare facilities nearby making it an attractive option for seniors.

For more on this development, visit: Cherryhill Village | Park Property Management