A mid-sized Toronto development project placed under receivership just over a year ago has been sold, according to Ontario Superior Court filings – a relatively rare occurrence at a time when projects are regularly becoming insolvent but few are transacting.
Firm Capital Property Trust (FCD-UN-T) has deals to acquire 11 manufactured housing communities (MHCs) across Alberta and Saskatchewan comprising 1,752 MHC sites, in a joint venture involving its subsidiary and partner SunPark Communities LP, for $227 million.
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