The project would add four towers to Toronto skyline
Opportunity abounds as Canada's bed count significantly lags other countries
The update removes rental achievement holdback requirements on market-rate rentals
Pros compare it to living in a high-end hotel
The sales pitch touts the ability to subdivide vacant space to charge higher rents
The acquisitions push the REIT's portfolio past 1,000 units
The building is connected to a mixed-use plaza that is also being marketed
The deal would generate a capitalization rate of 5.75%
The fund will operate in partnership with CIBC Asset Management