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FINWIRES

Minto Apartment REIT Completes Sale of Toronto Property For $91 Million

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-- Minto Apartment REIT (MI-UN.TO) has closed the sale of its Toronto property located at 150 Roehampton, the trust said on Wednesday.

The property was sold for $90.75 million, and Minto expects to receive $67 million in net proceeds. Part of the proceeds will be used to repay the REIT's variable-rate revolving credit facility, with the balance available for general trust purposes.

The transaction may also result in a non-cash special distribution, a statement added.

Minto units closed up $0.03, to $17.50 on Tuesday on the Toronto Stock Exchange.

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