North Vancouver, BC, December 29, 2022 – Cascadia Green Real Estate Investment Trust (“CGREIT”) announces the acquisition of interest in AXIR, securing the deal at a favorable price. The current valuation of this interest marks a beneficial turn for CGREIT, thanks to CGREIT’s exclusive relationship with Cascadia Green Development.
The building, AXIR, is 5-storeys with 64 units, 41 vehicle spaces and 98 bicycle spaces. Located near bus stops, restaurants, grocery stores and daycare centres, AXIR is in the heart of North Vancouver.
Ranging from studios to three bedrooms, CGREIT looks to provide a wide variety of housing options to the North Vancouver rental market. This is the first acquisition for CGREIT this year and the fund looks to continue to diversify its portfolio across the North Vancouver area.
Farzad Mazarei, Director and Chairman of the Trustee for Cascadia Green REIT said:
“AXIR embodies our commitment to investing in sustainable buildings in prime North Shore locations with strong growth potential. North Vancouver’s vibrant community and robust real estate market makes it a perfect fit for our long-term vision. AXIR represents a key step in the growth of CGREIT, and we would like to thank our investors for their support in our successful first year.”
CEO, Vishaal Dasoar Commented:
“We are pleased to bring AXIR to the CGREIT portfolio. This project demonstrates how Cascadia Green REIT’s partnership with Cascadia Green Development enables investors to benefit from priority access to Cascadia Green Development’s strong pipeline of projects, offering exceptional value to investors.”
ABOUT CGREIT
Cascadia Green REIT is a dynamic and unincorporated open-ended real estate investment trust mutual fund. Cascadia Green REIT’s primary objective is to create value and consistent returns for its investors while addressing the housing shortage that plagues the Metro Vancouver area. We provide well-managed rental properties under the guidance of a team of seasoned professionals.
OTHER INFORMATION
Source Cascadia Green REIT
For more information:
Vishaal Dasoar, CEO, [email protected], 604 690-7348