Northview is one of Canada's largest publicly traded multi-family REITs. Its well-diversified multi-family portfolio comprises of nearly 27,000 residential units spanning across 1.2 million square feet of commercial space in more than 60 markets in Canada.
About 35% of Northview’s NOI is derived from Ontario that supports stable and growing profitability. Northview’s business can be divided into two business segments, multi-family (88% of total revenue), and commercial and execusuite (12%).
The commercial portfolio consists of office, warehouse, and mixed-use buildings, which are primarily leased to governments and other quality commercial tenants under long-term leases. These markets are characterized by rising populations and growing economies. Northview’s strategic relationship with Starlight Group should also support the REIT’s future acquisition opportunities. Its multi-family portfolio occupancy stood at 93.4%, with strong rental rate growth of 6.6% increase on turnover in Q2 2019.