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Yorkton Equity Group Inc. Announces Acquisition of The Fuse, a 125-Unit Multi-Family Residential Complex in Edmonton, Alberta
(TheNewswire) Edmonton, Alberta – TheNewswire - October 2, 2023 –...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Acquisition of The Fuse, a 125-Unit Multi-Family Residential Complex in Edmonton, Alberta\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Edmonton, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n October 2, 2023 – Yorkton Equity Group Inc. (TSXV:YEG)\n(“Yorkton” or the “Company”) is very pleased to announce that\nafter completing a thorough due diligence and evaluation process, the\nCompany has removed all buyer’s conditions on a purchase and sale\nagreement (“PSA”) for the acquisition of “The Fuse”, a one\nhundred and twenty-five (125) unit multi-family residential complex\nconstructed in 2015 and comprising of two condominium grade buildings\nsituated on approximately 2.67 acres of land located in the Summerside\nneighborhood at 2105 and 2109 68 Street SW, Edmonton, Alberta (the\n“Property”) with a purchase price of $25,625,000.\n \n \n \n \n Under the terms of the PSA, as amended, the Company had\nsixty (60) days from the date of execution to waive or satisfy the\ncondition on the transaction, which was obtaining financing to\ncomplete the transaction. On September 21, 2023, the Company satisfied\nthe financing condition of PSA, and all buyer conditions were removed.\n The closing date for the acquisition of the Property is November 16,\n2023.\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n \n \n \n \n \n Click Image To View Full Size\n \n \n \n The Property is comprised of twenty-three (23) one-bedroom with\none-bathroom suites, seventy (70) two-bedroom with two-bathroom\nsuites, and thirty-two (32) two-bedroom and den with two-bathroom\nsuites. The average suite size is 910 square feet and the total net\nrentable space is 113,803 square feet. Each suite includes\ncontemporary suite amenities such as granite countertops, tiled\nkitchen backsplash, modern stained birch cabinets and designer tile\nflooring and is equipped with in-suite laundry and storage.  The\nProperty has forty-eight (48) underground parking stalls and one\nhundred and thirty-two (132) surface parking stalls.  Each building\nis equipped with elevator access to all floors.  The Property ...