More Canadian real estate investment trusts and developers are expanding their footprints in the multiresidential space via mixed-use developments. Often, there are solid economic reasons. Sometimes, it is mandated by the community where they are developing.
Crombie REIT says it has a binding agreement to acquire the remaining 50 per cent interest in Zephyr, a two-tower mixed-use residential and retail property in Vancouver, from its development and operating partner Westbank Corp. for $133 million.
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