Woodland, Forum Buy 826 Units Across 34 Ottawa Buildings

Woodland Capital and Forum have acquired an 826-unit Ottawa apartment portfolio from Minto, completing the largest residential acquisition to date for both buyers.

The Parkwood Hills portfolio includes 34 buildings across nearly 26 acres near Meadowlands Drive and Fisher Avenue, with about 800K SF of gross building area. The mix includes concrete mid-rise apartments, low-rise walk-ups and townhomes.

A purchase price was not disclosed.

“Parkwood Hills is one of Ottawa’s most established multifamily communities and a highly attractive long-term investment,” Forum principal Gideon Pollack said.

Woodland president and co-founder Evan Paperman said the portfolio fits the firm’s strategy of acquiring well-located, institutionally maintained rental assets with long-term value potential.

The acquisition is one of Ottawa’s largest multifamily trades in recent years and comes as the city’s rental market moves toward more balanced conditions. CMHC put Ottawa’s purpose-built rental vacancy rate at 3% in 2025 and forecasts it will rise to 3.6% this year as a large pipeline of new rental supply reaches the market.

The transaction follows an earlier reduction of Minto’s holdings at Parkwood Hills. In 2024, Minto Apartment REIT sold Tanglewood and selected Parkwood Hills suites to Ottawa Community Housing for $86M.

Montreal-based Woodland invests in multifamily, commercial and mixed-use properties. Forum Properties owns, develops and operates residential and commercial real estate across Canada.