Boardwalk REIT (BEI-UN-T) has announced a series of apartment building acquisitions in Calgary comprising 324 units for $118.2 million. The largest of the properties is Elbow 5 Eight, an under-construction mid-rise with 255 apartments.
The 905 has supplanted Toronto proper as the region’s hub of condominium development, largely owing to the latter’s exorbitant land costs and surging tax regimes. Stubbornly elevated interest rates aren’t helping the 416, either.
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