On May 16, 2023 M Residential REIT acquired a multi-family residential property portfolio at 1000 & 1030 Parr Hill Dr. Martensville and 323 & 335 Veltcamp Cres. Saskatoon, Saskatchewan. It will be professionally managed by Melchior Management.

This portfolio consists of 251 apartment suites built between 2016-2020 sporting many modern finishes such as quartz countertops, and 6-piece Energy Star appliances. Electrified surface parking stalls at each property and 1030 Parr Hill Drive also features a heated underground parkade.

The total purchase price was $53 million.

“We are pleased to announce M Residential REIT is able to offer the residents of the great cities of Saskatoon & Martensville Saskatchewan quality living spaces that are professionally managed. “said Dino Melchior President and CEO, M Residential Apartment REIT.

Post-acquisition, M Residential REIT comprises 46 properties in 13 communities, with a total of 1,628 residential suites and now located in TWO provinces across Canada.