TORONTO, February 26, 2024 /PRNewswire/ – Alignvest Student Housing (“Alignvest”) is pleased to announce that Alignvest Student Housing REIT (“ASH REIT”) has completed the acquisition of a purpose-built student housing asset (“PBSA”) located at 417 Nelson Street , Ottawa, Ontario.
Sanjil ShahAlignvest managing partner, said: “We are excited to add 417Nelson to our portfolio and further solidify our presence in Ottawa. 417Nelson is very close to our other Ottawa properties, allowing for operational efficiencies and allowing us to continue providing high quality accommodation to students in the area. With this acquisition, we were able to take on attractive CMHC financing that has a below-market interest rate of 2.32% and over six years of remaining term.”
417 Nelson Street (“417Nelson”)
417Nelson is a modern 4-story building with 94 beds in 53 fully furnished units, with a mix of 1, 2, and 3-bedroom configurations. All units are equipped with private bathrooms. The property offers on-site laundry, underground parking, and an outdoor patio with gazebo. 417Nelson is conveniently located in the Sandy Hill neighborhood with access to local amenities and very close to the University of Ottawa.
About the Alignvest Student Housing and Real Estate Investment Trust
Alignvest Student Housing Real Estate Investment Trust is an unincorporated, fixed-term real estate investment trust formed under the laws of ontario pursuant to a Declaration of Trust to own purpose-built, income-producing student accommodation located in Canada. ASH REIT offers trust units on an ongoing basis pursuant to an offering memorandum on a private placement basis by qualified dealers to investors resident in any province or territory of Canada who qualify as “accredited investors.” ASH REIT has made arrangements to offer the units through the investment fund ordering system, Fundserv.
Visit Alignvest Student Housing Real Estate Investment Trust at www.alignveststudenthousing.com.
The information is based on market analysis and expectations of ASH REIT and should not be relied upon by the reader as research or investment advice with respect to ASH REIT. The information presented herein is not a recommendation, offer or solicitation to buy or sell securities or to adopt any investment strategy in any jurisdiction where it is prohibited by law or contrary to local laws or regulations. Any such investment offering, if made, will only be made by way of an offering memorandum on a private placement basis.
SOURCE Alignvest Student Housing REIT
