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SmartREIT and Mitchell Goldhar Announce Transit City Condos Third Tower in Vaughan Substantially Sold Out

VAUGHAN, York Region--(Marketwired - July 26, 2017) - Smart Real Estate Investment Trust and Mitchell Goldhar are pleased to announce that, as a result of the selling out of the first and second towers at Transit City Condos, a third tower was offered for sale, which tower is now substantially sold out.

Transit City in VaughanVAUGHAN, York Region–(Marketwired – July 26, 2017) – Smart Real Estate Investment Trust (TSX:SRU.UN) and Mitchell Goldhar are pleased to announce that, as a result of the selling out of the first and second towers at Transit City Condos (and the additional demand for units), a third tower was offered for sale, which tower is now substantially sold out. The guidance on the profitability on the sale of the units in this tower is revised to be an estimated return of 20% – 25% on cost from the previously disclosed 15% – 20%.

These are the inaugural residential buildings at SmartCentres Place. The new towers are 55 storeys each with a total of 1,716 residential units, steps away from the subway station which opens in December 2017. The subway station is located in the hub of SmartCentres Place. Transit City Condos is a joint venture between SmartREIT, Mitchell Goldhar and CentreCourt Developments.

Full Article: www.marketwired.com