Business
Yorkton Equity Group Inc. Announces the Conclusion of Its Investment in the Yorkton 108 Limited Partnership, a 193 Unit Apartment Condominium Development Project in the City Centre of Surrey in Metro Vancouver, British Columbia
(TheNewswire) Edmonton, Alberta – TheNewswire - October 20th, 2021...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces the Conclusion of Its Investment in the Yorkton 108 Limited Partnership, a 193 Unit Apartment Condominium Development Project in the City Centre of Surrey in Metro Vancouver, British Columbia\n \n \n (TheNewswire)\n \n \n \n Edmonton, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n October 20th, 2021 – Yorkton Equity Group Inc. (“YEG”\nthe “Company” or “Yorkton”) (TSXV:YEG), is pleased to announce\nthe successful closing of the sale of the 193 unit apartment\ncondominium development project (the “Project”) located in the\nCity Centre of Surrey in Metro Vancouver, British Columbia, one of the\nfastest growing cities in Canada. The Company owns approximately 25%\nof the Yorkton 108 Limited Partnership units of the Project and will\nreceive on a\n \n \n pro\nrata\n \n \n basis approximately 25% of the net\ndistribution of the Project.\n \n \n \n \n Proceeds from the sale will provide YEG the opportunity\nto redeploy the capital to continue its accretive acquisition\nstrategy.\n \n \n According to Mr. Ben Lui, CEO of the\nCompany,\n \n \n “We are pleased\nwith the conclusion of this short-term investment as it provides\nadditional resources to focus on our core business of strategic real\nestate investments of multi-family rental properties”.\n \n \n \n \n With the anticipated post-COVID boom, historical low\ninterest rates, and anticipated increase in immigration levels\nrecently announced by the federal government, there is an\nunprecedented window of opportunity to invest in real estate, and\nYEG fully intends to take advantage of that opportunity.\n \n \n \n \n About Yorkton\n \n \n \n \n Yorkton Equity Group Inc. is a fully integrated\ngrowth-oriented real estate investment company committed to providing\nshareholders with growing assets through the accretive acquisitions,\norganic growth, and the active management of multi-family rental\nproperties with significant upside potential. Our geographical focus\nis in primary and secondary markets across Canada with diversified,\ngrowing economies, and strong population in-migration, with our\ncurrent focus in British Columbia. Our business objectives are to\nachieve stable Net Operating Income (NOI) and growing Net Asset Value\n(NAV) in our mul...