True North Apartment Real Estate Investment Trust is ready to spend more than $150 million on a portfolio of 17 properties in the Toronto and Peterborough areas.

262 units in Peterborough and 510 more in the GTA are currently owned and operated by D.D. Acquisitions Partnership, run by Daniel Drimmer, a significant True North unitholder.

Yesterday (Monday) True North announced the deal would feature a combination of cash as well as assumed and new mortgages.

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