PRLog (Press Release) - Mar. 21, 2012 - Akelius Canada Ltd. announced today that it has completed the acquisition of three apartment properties comprising 139 suites in Toronto.The total purchase price, excluding acquisition and closing costs, was $ 23.0 million. All properties were acquired free and clear on closing. The acquired property portfolio consists of one apartment property in Rosedale with 53 suites and two apartment properties at Eglinton West Avenue with 86 suites in total.
Akelius Canada Ltd. is the Canadian entity of the largest private own multi residential company in Sweden. Akelius owns both in Sweden and Germany a property portfolio of 35,000 apartments. The main principle of Akelius is sustainability which means that the company is only investing in properties which it feel confident in view of location, condition of the property and structure of tenants.
In 2011 Akelius decided to start investing in multi residential properties in Canada. Akelius acquired since the end of 2011 five properties with 209 apartments in total. All properties are located in Toronto. Akelius aims is to acquire another 800 units in 2012. Akelius acquisition focus is currently based on the property market in Toronto.