Equiton Closes on Guelph Apartment PropertyOctober 16, 2019
FOR IMMEDIATE RELEASE: OCTOBER 16, 2019
EQUITON RESIDENTIAL INCOME FUND CONTINUES GROWTH WITH ACQUISITION OF GUELPH APARTMENT BUILDING
BURLINGTON, ON, October 16, 2019 – On October 15, 2019, the Equiton Residential Income Fund completed the purchase of a 29-unit apartment building in Guelph, Ontario.
The property is a centrally located residential complex within walking distance to Stone Road Mall and the adjacent commercial and services corridor. It is also located only 2 blocks from the University of Guelph and has easy access to public transportation.
Guelph is a growing city with an economically diverse economy. Major employers include auto-parts and advanced manufacturing, agri-food and biotechnology, information and clean technology, insurance and financial services. It’s home to the Ontario Ministry of Agriculture and Rural Affairs, as well as, leading post-secondary schools.
The city is close to major transportation, to the cities of Waterloo, Kitchener and Toronto and to the U.S. border with great employment opportunities, low crime rates and a community feel.
Further, Guelph offers world-class urban amenities, including shopping and dining and is host to some of Ontario's top festivals and events.
“We are excited to expand our growth into Guelph and build asset value through operational improvements for our investors,” says Equiton’s CEO, Jason Roque.
“The acquisition of this property is another example of our apartment strategy, focused on investing in areas with strong demographics and favourable supply-demand dynamics at an attractive cost basis,” he adds.
This investment further enhances Equiton’s presence in Ontario, further demonstrates its access to investment opportunities, and displays its ability to maximize investor unit value by accretive acquisitions.
Equiton is a private equity firm that specializes in providing private market real estate investments to Canadians. It is led by a senior team of industry veterans who have more than 100 years of combined real estate, investing and management experience. Collectively they have overseen the acquisition and management of over $10 billion in real estate, developed over 100 million square feet of real estate projects and overseen a combined portfolio of more than 10,000 apartments in Canada and the United States.
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