Yorkton acquires Crystallina complex in Edmonton

Executive Summary

• Yorkton Equity Group Inc. has removed all buyer conditions on the purchase and sale agreement for The Crystallina, a 184-unit multifamily residential complex in Edmonton, Alberta, with a total purchase price of $46.0 million.
• The transaction is financed via a CMHC-insured mortgage of approximately $44.3 million and cash deposits totaling $1 million, with closing expected on January 15, 2026.
• The acquisition expands Yorkton's portfolio of premium rental properties in Edmonton, adding to recent acquisitions of The Dwell and The Fuse.

Key Details

• Transaction Structure: Purchase and Sale Agreement (PSA) for the acquisition of The Crystallina.
• Purchase Price: $46.0 million.
• Closing Date: Expected January 15, 2026.
• Financing:
  • CMHC insured mortgage of approximately $44.3 million (inclusive of financing costs).
  • Commitment letter secured with a lender providing a 50-year amortization period.
  • Interest rate to be fixed prior to closing, not to exceed 4% per annum.
  • Fee of 0.50% of the committed loan amount payable to a licensed mortgage broker upon closing.
• Deposits Paid: Total non-refundable deposits of $1.0 million:
  • $100,000 paid on July 11, 2025.
  • $900,000 paid on October 20, 2025.
• Property Specifications:
  • Location: 17904, 17908, 17912, and 17916 -- 78 St. NW, Edmonton, Alberta (Crystallina Nera East neighbourhood).
  • Land Size: Approximately 3.81 acres.
  • Construction Year: 2016.
  • Unit Mix: 184 units total:
    • 51 one-bedroom, one-bathroom suites.
    • 97 two-bedroom, one-bathroom suites.
    • 36 two-bedroom, two-bathroom suites.
  • Size: Average suite size of 803 square feet; total net rentable space of 147,826 square feet.
  • Parking: 128 underground stalls and 150 surface parking stalls.
  • Amenities: Fitness centre, social room, leasing office, modern tenant lounge, energy-efficient solar panels, community garden, and pet run.
  • Unit Features: Condominium-quality, open-concept design, quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry.

Notable Quotes

• "The acquisition of The Crystallina marks another exciting step forward in Yorkton's growth strategy... Following our recent acquisitions of The Dwell, with 188 units, and The Fuse, with 125 units, The Crystallina further expands our portfolio of premium, condominium-grade rental properties in Edmonton, Alta., where rental housing demand remains robust, supported by strong economic conditions, continued in-migration and attractive affordability." — Ben Lui, President and CEO, Yorkton Equity Group Inc.