The latest investment theme in Toronto is rental apartments

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.