Northview Apartment REIT - 2017 Earnings & Price Target Update
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Northview is primarily a Canadian multi-family residential real estate investor and operator of a property portfolio of more than 25,532 suites including 344 extended stay suites in northern Canada. By net operating income 27% are in Ontario, Western Canada-25%, Atlantic Canada -14%, Northern Canada -30% and Quebec - 4%.
In Oct-2015, Northern Property REIT (NPR.UN), acquired True North Apartment REIT (TN.UN). In addition, NPR acquired seven apartment properties held by Starlight Investment Ltd. and 26 apartment properties from a joint venture between Starlight and Public Sector Pension Investment Board. As a result of this transaction Northern Property REIT changed their name to Northview Apartment REIT.(NVU.UN). The combination of Northern Property and True North total assets increased from $1.7B to $3.4B.
Northern Properties REIT & True North Combination
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