Akelius Canada Purchases another Property in Downtown Toronto

 
TORONTO - Sept. 4, 2013 - PRLog -- Toronto, Canada --/-- Akelius Canada, Ltd., (“Akelius”) announced this week the acquisition of a 56-unit residential property in east Parkdale, Toronto, Canada, for $7.5 million. This purchase brings Akelius’s portfolio up to 17 properties, many of which are located in the core of the city. Jordan Milewicz, President, facilitated the transaction.

“We are focusing on properties in central Toronto as we find the demand, growth, and long-term outlook favourable. The key here is room for improvements and upgrades,” Milewicz explained. “Upgrades that can be made to meet Akelius First Class standards, and with which we can derive a ten-, twenty-year outlook of returns.”

Since opening its doors in late 2011, Akelius has scrutinized and considered a significant number of rental residential properties throughout the city. Currently, Akelius owns 1,395 apartments, and it is looking to acquire more. For the fourth and final quarter of 2013, Akelius expects to purchase 5 properties. By the end of 2014, Akelius prospects to invest in 12 additional properties, of approximately 1,000 units.
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Location:Toronto - Ontario - Canada
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