WINNIPEG, MB, August 5, 2023 – Private Pension Partners is very pleased to confirm that Apartment Plus Real Estate Investment Trust’s (“A+ REIT”) material $183,000,000 acquisition of Feeder One LP (legally named Private Pension Partners Real Estate Growth Fund Two LP, but referred to throughout as “Feeder One LP”) has officially closed following unanimous support from limited partners of Feeder One LP and A+ REIT independent trustees.
Under the acquisition, A+ REIT will fold-in the development properties held in Feeder One LP into its portfolio of premium and luxury apartments as outlined below:
This acquisition drives the growth of the gross asset value of the A+ REIT portfolio by +/- 76% to +/- $530,000,000, the number of apartment units stabilized or under development held by the REIT by 57% from 1,070 to 1,682, and propels an annualized NOI increase of +/- 68% over a three-year forecast period.
ABOUT PRIVATE PENSION PARTNERS
The Private Pension Partners Group of Companies (P3 Group) provides a vertically integrated real estate platform including asset management, development, leasing, property management, and investment services. With more than a decade of sound investment, quality development, and strong management services, the P3 team controls $750 million of total assets,1,700 apartment units under management or development, and 450,000 SF of commercial space either owned by P3 or third-party pension-grade clients.
For more information about A+ REIT and this acquisition, please contact Don White, Chief Executive Officer for A+ REIT, or Dylan Kent, Head of Real Estate Capital for Private Pension Partners Investments Inc.
Don White, CFA, CPA, CGA
Chief Executive Officer
C: (204) 227-8898
Head of Real Estate Capital
C: (289) 208-4275