Single-tenant (Vet Strategy), multi-property portfolio of 28 locations across Canada, with 20 properties in Quebec, 4 in Ontario, 3 in the maritime provinces, and 1 in British Columbia.

TriVirtus was the successful strategic bidder against several financial buyers having identified several value-add opportunities on selected properties within the portfolio.

Secured tier one bank financial partner and raised requisite equity within twelve weeks to close on $32M plus acquisition, doubling Fund NOI.

Non-core properties identified for divestment, harvesting capital for additional portfolio investments.

Project statistics

Acquisition/construction

Q2 2023

Tenant

Single

Land area

N/A

Leasable area

130,000 f2

Project return

19%+

National portfolio of 28 properties acquired in Q2 2023

Doubled NOI and tripled Fund assets

Attractive triple-net long-term lease negotiated with single-tenant parent

Divestitures of non-core properties to recycle capital have achieved sales’ prices at or above appraised and marked value

Structured debt using interest rate SWAPs to match disposition strategy

Value-add opportunities being undertaken for core assets

Net levered return 19%+