Minto Apartment Real Estate Investment Trust (REIT) announced the successful sale of the Tanglewood and Chesterton/Bowhill properties in Ottawa, Ontario, to Ottawa Community Housing Corporation for $86 million. After deducting mortgage repayments and disposition costs, the net proceeds amounted to $68 million. These funds were allocated to repay part of the variable-rate debt under the REIT's revolving credit facility. Jonathan Li, the President and CEO, stated that this sale not only strengthens the REIT's balance sheet but also enhances its flexibility regarding refinancing, operating, and investment strategies. This transaction represents the REIT's second reduction in its variable-rate debt, following a $30 million payment made on January 31, 2024, from the repayment of a convertible development loan for the Fifth + Bank property. The REIT is also exploring refinancing opportunities expected to generate additional net financing proceeds between $55 to $65 million, aimed at further reducing the revolving credit facility debt.