District™ REIT Expands Its Presence with a Game-Changing Off-Market Acquisition in Toronto
TORONTO, October 31st, 2023 – District Property Trust, known as District™ REIT, is thrilled to announce its successful acquisition of a portfolio of multi-residential apartment buildings, for an aggregate price of $70 million (roughly $5 million below its as-is appraised value), in the highly coveted Urban Toronto. The transaction, finalized on October 31, 2023, marks a momentous achievement for District™ REIT, its investors, and its sister company, Valour Management Inc., which oversees the current property portfolio.
This acquisition signifies a substantial addition to District™ REIT’s portfolio and represents its inaugural expansion into the Toronto market. The purchase, secured below market value, provides substantial potential for appreciation. Strategic initiatives are underway to revitalize and to lease unrenovated and under-market units within the next 24 months, placing the acquired portfolio in prime position to achieve its appraised value of $106.8 million upon full stabilization.
These properties not only complement the existing portfolio but also offer exciting prospects for further growth and community development. District™ REIT views its entrance into the Toronto market as a transformative endeavour, reshaping urban living. District Property Trust’s commitment remains unwavering in creating thriving, inclusive communities that prioritize residents’ well-being and satisfaction while delivering quality returns to investors.
District™ REIT is a privately held Real Estate Investment Trust (REIT) specializing in income-generating real estate across residential, commercial, and industrial properties. Recognized for its strategic acquisitions, District™ REIT is dedicated to delivering consistent returns to its investors while maintaining a high-quality real estate portfolio. In 2022, District™ REIT investors enjoyed returns of 18%, encompassing 8% annual returns paid monthly and 10% investment appreciation.
Unitholders benefit from the capital appreciation of District™ REIT’s assets through ongoing management and value-creation strategies. Notably, District™ REIT is not publicly traded, and unit prices are calculated annually, providing stability amidst daily market fluctuations. The net asset value of the REIT is directly tied to the market value of the underlying real estate assets.
This acquisition is poised to have a positive impact on various stakeholders, including tenants, employees, and investors. Residents can anticipate a high-quality living experience, while employees will enjoy expanded opportunities within the District REIT & Valour group of companies. Investors can anticipate substantial appreciation in unit value and continued monthly distributions.
District REIT’s Founders and Trustees, Carmen Campagnaro and Richard Hall possess over six decades of combined experience across various facets of the real estate industry. Their other enterprises include Pro Funds Mortgages, Valour Capital, Valcon Construction, and Valour Management. Pro Funds Mortgages is a brokerage specializing in commercial and private lending. Valour Capital is a development company focused on multi-residential and commercial rentals. Valcon Construction builds multi-residential buildings, commercial and industrial developments for Valour Capital. Valour Management Inc. is the asset and property manager for the District REIT portfolio. This 360-degree structure enables management to maintain a pulse in each aspect of the industry while controlling cost and profitability, ensuring continued success.
District REIT and Valour Management are fully committed to ensuring a seamless integration process. Residents and tenants can expect minimal disruptions as both organizations diligently work to enhance the living experience and introduce new amenities and services.
Carmen Campagnaro and Richard Hall, through their group of companies, have a well-defined strategy to address the housing crisis throughout Ontario. The province currently faces a significant challenge in providing affordable and accessible housing, which will become even more critical with over 5,000,000 new immigrants anticipated to migrate over the next decade, as reported by Finance Minister Peter Bethlenfalvy on November 1st, 2023. Affordability, environmental efficiency, and the provision of a unique and high-quality living experience for tenants are the cornerstones of District REIT’s future.
Classified as an exempt market product by the Canadian Securities Regulators, prospective investors are encouraged to contact District™ REIT’s securities dealer for investor qualification requirements.