Ownership of one of Oshawa’s largest residential complexes has changed hands.
Q Management LP has acquired Rossland Park Residential Community in Oshawa from H. Kassinger Construction Limited for $220 million.
The property includes three high-rise buildings, two-low rise buildings and four townhouse complexes.
In all, there are 911 units in the community.
“This acquisition aligns with our strategy of assembling multi-family residential properties in large, growing Ontario urban centres,” said Dan Argiros, president and CEO of Q Management LP. “Oshawa has strong demand for residential rental homes.”
Q Management LP now holds five properties, including around 1,400 units, in the city.
Originally conceived in 1965 and completed in 1975 by Herman Kassinger, Rossland Park is home to more than 2,500 residents.
“Rossland Park Residential Community is well operated, and highly sought-after by tenants and is in a region where we have tremendous confidence,” said Argiros. “It is a great addition to our existing portfolio in Oshawa as we will be able to deliver valuable management efficiencies.”