Yorkton Equity Group Acquires Edmonton Apartment Complex for $46M
Yorkton Equity Group has agreed to acquire the Chrsytallina apartment complex in Edmonton for $46 million, the company announced.
The Chrystallina comprises three condominium-quality buildings totalling184 rental-housing units. Amenities include a freestanding building with a fitness centre, social room and leasing office. The property is located at 17904, 17908, 17912 and 17916 78th Street N.W.
Ben Lui, Yorkton’s president and CEO, said the deal mark another step forward for the company’s growth strategy following the acquisition of the 188-unit Dwell and 125-suite Fuse multi-family rental properties.
Edmonton-based Yorkton said it has has secured a $44.3-million Canada Mortgage and Housing Corporation-insured mortgage in accordance with the deal’s financing requirements and waived all other conditions.
The property comprises 147,826 square feet of rentable space, and units average 803 sf. The complex contains 51 one-bedroom apartments and 133 two-bedroom suites.
Yorkton owns and manages multi-family rental properties in Alberta and B.C.
Pictured: The Chrystallina apartment complex in Edmonton.
Photo: Yorkton Equity Group
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