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Minto Apartment REIT (MI-UN-T) has an agreement to sell its 17-storey apartment building at 150 Roehampton Ave. in Toronto as the trust prepares for the closing of its take-private transaction with its parent company Minto Group and Crestpoint Real Estate Investment Ltd.
150 Roehampton is being sold for $90.75 million to an unnamed private investor. In its announcement Wednesday afternoon, Minto states the sale price exceeds the current IFRS value for the property.
The building is located less than a block from the Yonge and Eglinton intersection in downtown Toronto, in a region which has been undergoing intense development and densification activity for the past decade. The tower contains 148 apartments ranging from studios to deluxe two-bedroom units and one- and two-bedroom penthouses.
150 Roehampton was built in 2007 but the suites and facilities have undergone extensive renovations over the past couple of years. It is a pet-friendly building which also offers what Minto refers to as “a full-suite of amenities” in the release, including:
- underground parking, EV charging ports and bicycle storage;
- storage lockers and parcel delivery lockers;
- secure fob access, digital keys and facial recognition for entry;
- fitness facility and yoga room;
- resident lounge and party room; and
- a barbecue area, among other features.
The transaction is expected to close in Q2 of this year.
How Minto will use the proceeds
Upon closing, Minto states the proceeds of approximately $67 million will be used to repay a portion of the REIT's variable-rate revolving credit facility and for general trust purposes.
Minto also expects the transaction to result in a non-cash special distribution to unitholders. The final amount is still being determined, but it is not expected to exceed $1 per trust unit.
The sale comes as Minto and Crestpoint make final preparations to take the REIT private in a transaction which was announced in January, and values the trust at approximately $2.3 billion. Crestpoint and Minto Group will pay $18 per unit, a 32 per cent premium to the closing price on Jan. 2 ($13.61), the day of the announcement.
Financial details of the new ownership group have not been released.
Minto Apartment REIT was formed in 2018, spinning off as a subsidiary of Minto and seeded at that time with a portfolio of 22 apartment properties. As of Dec. 31, 2025, it owned a portfolio of 28 rental properties located primarily in urban centres in Canada's major markets of Toronto, Montreal, Ottawa, Calgary and Vancouver.
The Minto Group is a fully integrated Canadian real estate investment, development and management platform. Founded in 1955, Minto has built more than 100,000 new homes and continues to own and manage residential and commercial rental properties.
It has over 1,300 employees in Canada and the United States.
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