TRIO sells for $55 million

Wayne Moore - Sep 15, 2020 - Biz Releases

Image: Contributed

The final coat of paint had barely dried before developers of a multi-family rental complex in Glenmore sold the property.

According to information contained in the Western Investor, TRIO sold earlier this month for $55 million.

The building was purchased by Toronto-based Centurion Apartment Real Estate Investment Trust. The sale closed Sept. 1.

Construction concluded earlier this month on the five-storey, 175-unit purpose-built rental complex on Drysdale Road.

Following approval from city council, construction on the project began in April of last year.

Kelowna-based Traine Construction and Development teamed up with Toronto’s Harbour Equity to construct the project.