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Northview Apartment closes on C$197M Canadian portfolio purchase

Northview Apartment Real Estate Investment Trust closed on the C$196.8 million purchase of a 1,250-unit Canadian property portfolio and the sale of a 216-unit noncore asset in Kitchener, Ontario, for C$37.7 million.

The portfolio consists of properties spread across Ontario, Quebec, Nova Scotia and British Columbia, with a weighted average cap rate of 4.4%.