Equiton Residential Income Fund Trust announced it has ended a busy year with the acquisition of a Toronto multi-residential property for $50 million. The building, now known as Ravine Park Apartments, has seven storeys, 169 units, several onsite amenities, and 183 combined indoor and outdoor parking spots.

“We are truly excited to be expanding our presence in Toronto with the purchase of this building, which brings us to $272 million in acquisitions for the Apartment Fund this year,” said Jason Roque, Equiton Founder and Chief Executive Officer. “It’s been an outstanding year for the Fund, and we’d like to thank our investors and partners for their continued support.”

The property is located directly across from the upcoming Eglinton LRT station and within walking distance of the Kennedy subway and GO stations. It marks the seventh acquisition by Equiton’s Apartment Fund this year, and closely follows the previously announced purchase of Park Square Apartments in early December. All tolled, the Fund added more than 755 portfolio units in 2022 in Ontario and Alberta, as well as a development project. Equiton’s Apartment Fund now comprises 32 properties across 17 communities with 2,548 residential units in total. 

The Fund specializes in acquiring multi-residential properties in Canada and says it intends to increase value through active management, targeting an annual net return of 8-12 per cent.

Find out more about the Equiton Apartment Fund at www.equitonliving.com