The Equiton Residential Income Fund Trust, a Canadian private equity firm, has completed its $21.5 million acquisition of Scenic Tower, a multifamily property in London, Ontario.
The nine-story Scenic Tower has 115 units, and 148 combined outdoor and underground parking spots. It is located in a residential neighborhood in Southeast London near public transportation and Highway 401.
“We are thrilled to add Scenic Tower to our portfolio. Scenic Tower is an excellent addition to Equiton’s Apartment Fund, showcasing our strategic approach to real estate investment, combining location, quality, and market potential, and then actively managing the property with a focus on increasing the value organically, through improved operational efficiencies, functionality and aesthetics,” said Ryan Donkers, vice president of acquisitions at Equiton.
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