On July 14, 2021, District Property Trust, also known as District REIT, purchased Wonderland Path as part of their portfolio of acquired properties.
About Wonderland Path
Wonderland Path is a premier community that comprises 47 three and four bedroom luxury townhomes that offers wonderful area amenities, great schools, quick and easy access to Hwy 401, Hwy 402 and so much more. Wonderland Path is a great choice for business professionals, young families and those with an appreciation for living well.
The property is continuing to undergo an aggressive lease-up process and currently has a 93.6% occupancy rate. The average monthly rent per unit is approximately $2,180 ($17.20 per square foot) and District REIT expects these figures to increase as the vacant units are leased up at higher market rates. It should be noted that the appraiser’s rental income estimate resulted in a blended rental rate of $16.76 per square foot, or $2,130 per unit, and therefore the achieved rates are in line and marginally superior to the rates estimated by the appraiser.
This information is provided for general informational purposes only. This newsletter does not constitute an offer of, or solicitation for, the purchase and sale of any securities under any circumstances. Please read the confidential offering documents before investing, as they contain important information on fees and risk factor. Nothing herein should be construed as investment, legal, tax, regulatory, or accounting advice. Professional advice should be obtained with respect to any investment. Any past or targeted performance is not indicative of future performance and there can be no assurance that District REIT will achieve comparable results, that targeted returns will be met, or that District REIT will be able to implement its strategy or achieve its investment objectives. While we believe this information is accurate, District REIT and its affiliates cannot attest to the validity of information culled from other sources and cannot guarantee that it is always current or complete. The information contained is subject to change without notice and we cannot be held liable for any loss arising from any use of or reliance on the information contained in this newsletter.