Acquisition: 260 Winewood Ave, Gravenhurst ON

On March 15, 2022, the REIT acquired a 28 suite multi-residential rental property located in Gravenhurst, Ontario at 260 Winewood Ave.

Centennial Apartments is a three-story mid-rise multi-family apartment property with 13 one-bedroom suites, 14 two-bedroom suites, and a single three-bedroom suite. It was built in 1978 and is in overall good condition.

Gravenhurst is a town within the Muskoka Region of Ontario. It is approximately 185 kilometers north of Toronto, Ontario. Highway 11 serves as the major arterial route for the town heading Northbound into North Bay and turns into Hwy 400 going Southbound.

Gravenhurst has a population of approximately 12,311 and acts as a southwestern gateway into Algonquin National Park in the region of Muskoka. This region attracts more than 2.1 million visitors annually as it provides a scenic area that is surrounded by greenspace, lakes and picturesque towns. The major industries of employment include retail trade, health care and social work, construction and accommodation and food services. Gravenhurst’s main economic driver is seasonal tourism, with the Muskoka region generating over $500 million in annual visitor expenditures.

The site is centrally located near the downtown Gravenhurst and within walking distance of public transportation. Overall, the condition of the property is in good condition and it is Rental Building Certified