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Ontario  + Alberta & Prairies + Maritimes  + Student Housing  | 
Alignvest student housing asset in Ottawa.

Alignvest Expands Portfolio with Ottawa Acquisition

Alignvest Student Housing REIT has acquired a purpose-built rental asset in Ottawa for an undisclosed price.

Toronto-based Alignvest said the transaction has closed and solidifies the REIT’s presence in the nation’s capital while expanding its portfolio.

“With this acquisition, we were able to assume attractive in-place [Canada Mortgage and Housing Corporation] financing which has a below-market interest rate of 2.32% and over six years of remaining term,” Sanjil Shah, Alignvest’s managing partner, said in a news release.

The four-storey building is located at 417 Nelson Street in the Sandy Hill neighbourhood near the University of Ottawa. The 53 fully furnished units include 94 student beds.

The suites encompass a mix of one-, two- and three-bedroom configurations, all equipped with ensuite bathrooms. Additionally, the property offers such amenities on-site laundry facilities, underground parking and an outdoor patio with a gazebo.

Alignvest owns student housing assets in Ontario, Nova Scotia and Alberta.

Photo: Carre417


Inside The Story

Sanjil ShahAlignvest

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Financing
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