Business
Yorkton Equity Group Inc. Announces Financial Results for the 2024 Fiscal Year and Provides Corporate Update
(TheNewswire) Edmonton, Alberta – (April 24, 2025) – TheNewswire - ...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Financial Results for the 2024 Fiscal Year and Provides Corporate Update\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 – (April 24, 2025) –\n \n\n TheNewswire\n-\n \n\n Yorkton Equity Group Inc. (TSXV YEG)\n(“Yorkton” or the “Company”) is very pleased to announce its\nfinancial results for the year ended December 31, 2024 and provide a\ncorporate update.\n \n\n\n\n “In today’s environment of market volatility, we\nbelieve residential real estate may offer relatively greater stability\nand the potential for more predictable long-term returns,” said Mr.\nBen Lui, President and CEO of Yorkton.  “We are excited to see\ncontinued strong momentum in our residential rental business.  While\nour direction remains unchanged in acquiring properties to build a\nrobust portfolio of quality multi-family rental assets that deliver\nsolid cash flow and capital appreciation as opportunities arise, we\nare cautiously monitoring market conditions to safeguard the integrity\nand prosperity of our business during current economic uncertainties\namid the tariff war. At the same time, we are committed to further\nenhancing the performance of our existing portfolio by increasing net\noperating income through delivering exceptional value and service to\nour tenants, driving rental revenue growth, and improving operational\nefficiencies.”\n \n\n\n\n 2024 Financial Highlights\n \n\n\n\n As at December 31, 2024, Yorkton had total assets of\n$137.08 million, which included 518 residential rental units and one\ncommercial rental unit across 10 multi-family rental properties with a\ntotal fair market value of $122.89 million and one commercial rental\nproperty with 28,026 square feet of net leasable area, together with\nan adjacent parking lot, with a total fair market value of $11.95\nmillion.\n \n\n\n\n For the residential units, during the year ended\nDecember 31, 2024, as compared to 2023, Yorkton reported:\n \n\n\n\n\n\n an increase in rental revenue of 42%;\n \n\n\n\n\n\n\n\n an increase in net rental income of 38%;\n \n\n\n\n\n\n\n a consistently high average occupancy rate of 98%;\n \n\n\n\n\n\n\n an increase in its weighted average number of units of\n33%; and\n \n\n\n\n\n\n\...