Minto Apartment REIT Provides Capital Allocation Update
Minto Apartment Real Estate Investment Trust (the "REIT") (TSX: MI.UN) today provided an update on its capital allocation program, following the closing of its previously announced sale of the Castleview property located in Ottawa, Ontario for gross proceeds of $69 million. Following the repayment of the mortgage and associated transaction costs, the net proceeds of $33.8 million will be used, in part, to repay the remaining balance on the REIT's variable-rate revolving credit facility.