Yorkton Equity Group Closes $46 Million Acquisition of Edmonton Multi-Family Complex

The latest update is out from Yorkton Equity Group Inc ( (TSE:YEG) ).

Yorkton Equity Group Inc. has closed the acquisition of The Crystallina, a 184-unit, condominium-quality multi-family residential complex in Edmonton, Alberta, for $46 million, financed through a combination of cash and a CMHC-insured mortgage of approximately $44.3 million at a fixed rate of 3.692% over a five-year term. The nearly fully occupied property, appraised at $46.75 million with projected annual revenue of about $3.6 million and NOI of roughly $2.2 million, features modern amenities such as underground parking, a fitness centre, tenant lounge, solar panels and in-suite laundry, and expands Yorkton’s Edmonton portfolio alongside The Dwell and The Fuse, reinforcing its strategy to grow high-quality rental assets in a city benefiting from population growth, a healthy economy and an affordable housing market.

The most recent analyst rating on (TSE:YEG) stock is a Buy with a C$0.37 price target. To see the full list of analyst forecasts on Yorkton Equity Group Inc stock, see the TSE:YEG Stock Forecast page.

More about Yorkton Equity Group Inc

Yorkton Equity Group Inc. is a growth-oriented real estate investment company focused on acquiring, managing and growing a portfolio of multi-family rental properties in Western Canada, particularly in Alberta and British Columbia. The company targets markets with diversified and expanding economies and strong population in-migration, aiming to increase Net Operating Income and asset values through accretive acquisitions, organic growth and active management, backed by a management team with more than 35 years of real estate experience.

Average Trading Volume: 16,170

Technical Sentiment Signal: Buy

Current Market Cap: C$23.65M

Find detailed analytics on YEG stock on TipRanks’ Stock Analysis page.