Burlington, a city of 200,000 people at the western edge of the Greater Toronto Area on the Lake Ontario shoreline, has grown in popularity with condominium developers over the years. For Adi Developments, however, that focus is changing.
With approval in hand from shareholders to divest assets and, if management chooses, shut down European Residential REIT (ERES), president and CEO Mark Kenney said Thursday the trust plans to continue divesting properties.
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