TORONTO & VAUGHAN, Feb. 05, 2019 (GLOBE NEWSWIRE) — SmartCentres Real Estate Investment Trust (“SmartCentres”) (TSX: SRU.UN) and the Penguin Group of Companies (“Penguin”) owned by Mitchell Goldhar announced today that they have entered into another joint venture with CentreCourt, to develop two additional Transit City Condo towers in SmartCentres Place at the Vaughan Metropolitan Centre (“VMC”). These two towers, Towers 4 and 5, will complement Towers 1, 2 and 3, the three 55 storey towers which were strongly received by the market in May 2017. SmartCentres and Penguin alone will also develop a sixth tower as a purpose-built rental apartment. The three new towers total approximately 1600 units, contributing to the burgeoning downtown core that Penguin and SmartCentres are actively developing.
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