Business
Yorkton Equity Group Inc. Announces the Successful Acquisition Closing of an Apartment Building in Penticton, British Columbia
(TheNewswire) Edmonton, Alberta – TheNewswire - December 14 th...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces the Successful Acquisition Closing of an Apartment Building in Penticton, British Columbia\n \n \n (TheNewswire)\n \n \n \n Edmonton, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n December 14\n \n \n th\n \n \n , 2021 – Yorkton Equity Group Inc.\n(“YEG” or the “Company” or “Yorkton”) (TSXV:YEG) is\npleased to announce that after completing a thorough due diligence and\nevaluation process on the acquisition of a 26-unit apartment building\ncalled Winton Terrace, which is situated in a prime location in the\nvicinity of the City Centre of Penticton, British Columbia (“BC”),\nthe transaction, previously announced on November 4, 2021, was\nsuccessfully completed for a purchase price of $4,785,000.\n \n \n \n \n Ben Lui, President and CEO of Yorkton remarked “In\naddition to our property acquisitions in Edmonton, Alberta, we have\nrecently completed a number of acquisitions in British Columbia,\nincluding in the Cities of Kelowna, Langford Victoria, and with the\nsuccessful closing of the new acquisition in Penticton, we are\nsignaling the decisive expansion of our portfolio into the growing BC\ninterior region cities with strong economic growth and population\nin-migration. Furthermore, we have also strategically expanded our\nacquisition search to encompass the northern BC region, which are the\nlong-term beneficiaries of the $40 billion LNG Canada liquefied\nnatural gas project and the associated pipeline to the BC coast, both\nof which are now under construction. We are laser-focused on rapidly\ngrowing the Net Asset Value (NAV) and the Net Operating Income (NOI)\nfor our shareholders, which is consistent with our secure, aggressive\ngrowth business model.”\n \n \n \n \n Penticton BC is a beautiful, vibrant, waterfront city\nwhich is the business hub of the rapidly growing Okanagan-Similkameen\nregion with more than 3,000 businesses serving over 100,000 people.\nKnown for world-class wineries, agriculture, hospitality and\nincreasingly a hub for high-tech entrepreneurs.  Penticton’s\nresilient and growing business economy includes a solid foundation of\nmature, multi-generational businesses, as well as start-ups and newly\nrelocated companies.\n \n \n \n \n About Yorkton\n \n \n \n \n Yorkton Equit...