Yorkton Equity Group Inc. Successfully Closes the Acquisition of The Crystallina, a 184-Unit Multi-Family Residential Complex in Edmonton, Alberta

Executive Summary

• Yorkton Equity Group Inc. completed the acquisition of “The Crystallina,” a 184‑unit multi‑family residential complex in Edmonton for a purchase price of $46.0 million.
• The transaction was financed with cash for the down payment and a CMHC‑insured mortgage of approximately $44.3 million at a fixed 3.692% interest rate, amortized over 50 years.
• The property is appraised at $46.75 million, generates projected annual revenue of ~$3.6 million and NOI of ~$2.2 million (cap rate ~4.9%), with current occupancy of 98.4%, indicating strong upside potential for Yorkton’s portfolio.

Key Details

• Purchase Price: $46.0 million.
• Financing Structure:
• Cash down payment (amount not disclosed).
• CMHC‑insured mortgage: ~$44.3 million, fixed 3.692% interest, 5‑year term, 50‑year amortization.
• Mortgage broker fee: 0.50% of the committed loan amount.
• Appraisal & Valuation: Property appraised at $46.75 million.
• Projected Financials:
• Annual revenue: ~ $3.6 million.
• Net Operating Income (NOI): ~ $2.2 million.
• Capitalization rate: ~4.9%.
• Occupancy: 98.4% at closing.
• Property Description:
• 184 residential units across three condominium‑quality buildings plus a standalone amenity building.
• Unit mix: 51 one‑bedroom, 97 two‑bedroom (1 bath), 36 two‑bedroom (2 baths).
• Average suite size: 803 sq ft; total net rentable space: 147,826 sq ft.
• Parking: 128 underground stalls, 150 surface stalls.
• Amenities: fitness centre, tenant lounge, leasing office, solar panels, community garden, pet run.
• Strategic Rationale: Adds a high‑quality rental asset to Yorkton’s Edmonton portfolio, complementing prior acquisitions (The Dwell and The Fuse) and supporting growth of NOI and shareholder value.

Notable Quotes

“Yorkton is pleased to complete the acquisition of The Crystallina, adding another high-quality, condominium‑grade rental property to our Edmonton portfolio… We look forward to successfully integrating The Crystallina into our portfolio and continuing our growth to enhance our profitable proposition for shareholders.” – Ben Lui, President & CEO

Materiality Assessment: Material – Positive (significant acquisition with substantial financial impact and upside potential).