March 23 (Reuters) - Tricon Residential Inc TCN.TO :
* TRICON AND CPP INVESTMENTS ANNOUNCE C$500M TORONTO MULTI-FAMILY DEVELOPMENT JOINT VENTURE
* TRICON - JV'S EQUITY CAPITAL ALLOWS FOR EXPECTED DEVELOPMENT OF 2,000-3,000 UNITS AT GROSS DEVELOPMENT COST OF ABOUT C$1.4 BILLION, INCLUDING LEVERAGE
* TRICON - EXPECTS TO MAINTAIN ITS CAPITAL ALLOCATION BELOW 10% FOR DEVELOPMENT ACTIVITIES, WITH OVER 90% ALLOCATED TOWARDS STABILIZED RENTAL ASSETS