Harlo Capital acquires Toronto rental building at 85 Wellesley St. East for $24.3 million

The property was purchased for the Diversified Canadian Real Estate (DCRET) Fund at a 5% capitalization rate.

The deal was marked as the only downtown Toronto apartment building transaction recorded so far this year.

Harlo Equity Partners’ Harlo Capital acquired a Toronto residential rental building at 85 Wellesley Street East for $24.3 million.

The nine-storey asset includes 88 units on a 0.38-acre site and is branded “Eighty-Five on Wellesley.”