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The latest investment theme in Toronto is rental apartments
Published Thu, Feb 26, 2015 · 09:50 PM
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Toronto
THE dreary six-storey apartment block in Toronto's north end was nicknamed "Divorcee Towers" after the newly single who lodged at its short-stay units. Then Timbercreek Asset Management Inc moved in.
The real estate investment company installed new hardwood floors, stainless steel appliances, energy efficient windows and preserved 1930s art-deco details such as a steel-cage elevator, boosting the rent to about the same as a modern downtown condominium.
Timbercreek is at the forefront of the n…
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