PROREIT partners with Crestpoint to split ownership of 42 properties in Atlantic Canada

DARTMOUTH, N.S. — Professional Actual Property Funding Belief (PROREIT) and Crestpoint Actual Property Investments Ltd. have partnered to separate possession of 42 largely industrial properties in Atlantic Canada.

The deal will see the businesses collectively personal 41 properties in Dartmouth and one in Moncton, N.B. Twenty-one of the properties had been purchased from a 3rd social gathering for $228 million, with the 2 consumers splitting the price.

PROREIT additionally offered half of its full possession of 21 different properties to Crestpoint for $113.5 million.

PROREIT’s property administration enterprise, Compass Business Realty, will handle all of the properties and gather charges.