Forum, Woodland acquire 826-unit apartment portfolio in Ottawa

Partnership takes over 26-acre, 800,000-sq.-ft. residential portfolio from Minto

Woodland Capital and Forum have taken a leap into the Ottawa multifamily sector with the joint acquisition of a 34-building portfolio in the nation's capital.

The transaction marks the largest residential acquisition to date for both firms and one of the largest multifamily trades in Ottawa this year, the companies said.

The Parkwood Hills apartment portfolio, acquired from Minto Group, consists of 826 units across approximately 800,000 square feet of gross building area on nearly 26 acres of land.

Montreal-based Woodland Capital president and CEO Evan Paperman said the portfolio offered a desirable location in a strong rental market where population growth continues to outpace supply.

"Parkwood Hills represents exactly the type of opportunity we seek: a well-located, institutionally maintained asset with strong fundamentals," he said in an announcement on the transaction.

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