Business
Yorkton Equity Group Inc. Announces Condition Removal on an Apartment Building Purchase in Penticton, British Columbia
(TheNewswire) Edmonton, Alberta – TheNewswire - November 10 th...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Condition Removal on an Apartment Building Purchase in Penticton, British Columbia\n \n \n (TheNewswire)\n \n \n \n Edmonton, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n November 10\n \n \n th\n \n \n , 2021 – Yorkton Equity Group Inc.\n(“YEG” or the “Company”) (TSXV:YEG) is pleased to announce\nthat after completing a thorough due diligence and evaluation process,\nit has removed all buyer conditions for the purchase of a 26-unit\napartment building, Winton Terrace, situated in a prime location in\nthe vicinity of the City Centre of Penticton, British Columbia\n(“BC”). The purchase of the property is unconditional as of\nNovember 8\n \n \n th\n \n \n , 2021 and the transaction is scheduled to close on or about\nDecember 8\n \n \n th\n \n \n , 2021.\n \n \n The Company will provide\nadditional details upon closing.\n \n \n \n \n Ben Lui, President and CEO of Yorkton remarked\n“Subsequent to our acquisitions in Edmonton, Alberta, we have\nrecently completed a number of successful acquisitions in British\nColumbia in the Cities of Kelowna, Langford Victoria, Surrey Metro\nVancouver, and with this new acquisition in Penticton, we are\nsignaling the decisive expansion of our portfolio into the rapidly\ngrowing BC interior region. In addition, we have also strategically\nexpanded our acquisitions in the northern BC region which are the\nlong-term beneficiaries of the $40 billion LNG Canada liquefied\nnatural gas (LNG) project. We remain laser focused on rapidly growing\nthe Net Asset Value (NAV) and Net Operating Income (NOI) of our\nmultifamily portfolio to deliver an outstanding value proposition for\nour shareholders.”\n \n \n \n \n Penticton BC is a vibrant waterfront city and is the\nbusiness hub of the rapidly growing Okanagan-Similkameen region with\nmore than 3,000 businesses serving over 100,000 people throughout the\nregion. Known for world-class wineries, agriculture and hospitality,\nit is increasingly becoming a hub for tech entrepreneurs.\n Penticton’s resilient and growing business economy includes a\nsolid foundation of mature, multi-generational businesses, as well as\nstart-ups and newly relocated companies.\n \n \n \n \n About Yorkton\n \n \n \n \n Yorkton Equity Group Inc. is a fully integrated...