TORONTO, June 25,
2024 /CNW/ - Alignvest Student Housing ("Alignvest")
is pleased to announce Alignvest Student Housing REIT ("ASH REIT")
has completed the acquisition of two purpose-built student
accommodation ("PBSA") assets located at 252 and 254 Phillip
Street, Waterloo, Ontario (known
as "Hespler House" and "Fergus House", respectively).
![Alignvest Student Housing Logo (CNW Group/Alignvest Student Housing REIT) Alignvest Student Housing Logo (CNW Group/Alignvest Student Housing REIT)](https://mma.prnewswire.com/media/2447574/Alignvest_Student_Housing_REIT_Alignvest_Student_Housing_complet.jpg)
Sanjil Shah, Managing Partner of
Alignvest, said, "With the closing of our acquisitions of Hespeler
House and Fergus House, ASH REIT has
completed four transactions in the first half of 2024 totaling
1,705 beds and $384 million. We are
excited to further solidify our position in Waterloo and believe these assets will benefit
from the scale ASH REIT has in the market. Hespeler House and
Fergus House are strategically
located near the University of
Waterloo, whereas our other assets in Waterloo primarily serve students attending
Wilfrid Laurier University. In total,
we now provide housing for over 6,900 students in six major
higher-education markets across Canada."
252 and 254 Phillip Street
("Hespeler House" and "Fergus House")
Hespeler House and Fergus House
are each 21-storey student housing buildings with 476 beds in fully
furnished four-bedroom/four-bathroom suites. The properties are
steps away from the University of
Waterloo and within walking distance from Wilfrid Laurier University. The properties have
amenities which include fitness rooms, study rooms, a fully
enclosed theatre room, games rooms, a basketball court, underground
parking, bicycle parking, and on-site laundry.
About Alignvest Student Housing
Real Estate Investment Trust
Alignvest Student Housing Real Estate Investment Trust is an
unincorporated open-ended real estate investment trust formed under
the laws of Ontario pursuant to a
Declaration of Trust to own income-producing purpose-built student
accommodations located in Canada.
ASH REIT offers trust units on a continuous basis pursuant to an
offering memorandum on a private placement basis by qualified
dealers to investors resident in any province or territory of
Canada who qualify as "accredited
investors". ASH REIT has made arrangements to offer the units
through the investment fund order system, Fundserv.
Visit Alignvest Student Housing Real Estate Investment Trust at
www.alignveststudenthousing.com.
The information is based on the market analysis and expectations
of ASH REIT and should not be relied upon by the reader as research
or investment advice regarding ASH REIT. The information presented
herein is not a recommendation, offer or solicitation to buy or
sell any securities or to adopt any investment strategy in any
jurisdiction where prohibited by law or where contrary to local law
or regulation. Any such offer to invest, if made, will only be made
by means of an offering memorandum on a private placement
basis.
SOURCE Alignvest Student Housing REIT