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Ontario  + Apartments  | 

Lankin Acquires 258-Unit Apartment Complex in Ottawa

Lankin Apartment REIT has acquired a 258-unit multi-family residential in Ottawa for an undisclosed price.

The property is located at 1551 Lycee Place in the city’s Riverview neighbourhood.

The REIT is controlled by Lankin Investments, which said the acquisition reinforces the firm’s presence in the National Capital Region, a market that benefits from government-anchored employment and strong rental demand. The property aligns with the firm’s investment strategy of acquiring institutional-grade multi-family assets in selected Canadian markets, said Lankin..

Vaughan, Ont.-based Lankin Investments is a real estate investment firm focused on institutional-grade Canadian multi-family properties. The company has more than 15 years of experience acquiring, managing and operating rental communities across Canada. It manages a real estate portfolio valued at more than $2 billion, including over 6,200 multi-family units.

Pictured: Lankin’d

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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.