UPDATED: Heavily indebted Lanesborough REIT (LRT.UN-V) intends to sell its property assets to a company connected to its vice chairman for $41M and cease operations. In its Q1 2024 financials released Thursday, LREIT reports a $2.3-million loss.
Globe Capital Management is taking advantage of something of a lull in acquisitions by public and institutional multiresidential owners to grow its own portfolio. The Winnipeg-based firm is also actively developing properties, looking for building sites, and consolidating ownership.
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