Topic: How To Invest

Q: Pat, what are your thoughts on Northview Apartment REIT? Thanks!

Article Excerpt

A: Northview Apartment REIT, $26.50, symbol NVU.UN on Toronto (Units outstanding: 56.3 million; Market cap: $1.7 billion; www.northviewreit.com), is a real estate investment trust (REIT) that specializes in multi-family residential properties across Canada. Northview owns a portfolio of 27,000 residential suites and 1.2 million square feet of commercial space in more than 60 markets across eight provinces and two territories. The REIT started up in January 2002 and is headquartered in Calgary, Alberta. Northview’s portfolio is geographically diversified, with properties throughout Canada. Specifically, 31.0% of the REIT’s revenue comes from Ontario, 25.3% from Northern Canada, 23.4% from Western Canada, 14.3% from Atlantic Canada, and 6.0% from Quebec. Of the REIT’s total revenue, 89.2% comes from multi-family rental units while the remaining 10.8% comes from commercial properties. Northview’s multi-family portfolio has an occupancy rate of 93.9%. The REIT continues to add to its portfolio through acquisitions, with an increasing emphasis on Ontario. Northview made $239.2 million in acquisitions in 2017 and a further $333.7 million…