EQUITON APARTMENT FUND EXPANDS PRESENCE IN BRANTFORD, ONTARIO WITH ACQUISITION OF NEIGHBOURING PROPERTY
BURLINGTON, ON, Dec. 20, 2023 /CNW/ - The Equiton Residential Income Fund Trust (The Apartment Fund) proudly announces its strategic expansion in Brantford, Ontario through the acquisition of a multi-residential property at 23 Lynnwood Drive, directly next door to Equiton's existing property at 19 Lynnwood Drive. These sister properties share a common driveway and will provide many opportunities for synergies.
This purchase, Equiton's third in the city of Brantford, will enhance the company's presence in the region and solidify its commitment to the local economy. The purchase price for the property was $11.25 million.
The newly acquired building has six storeys, 55 suites, and 74 outdoor parking spaces. The expansion is not only a testament to Equiton's confidence in the Brantford market, but also a strategic move to capitalize on operating efficiencies.
Equiton Founder and CEO Jason Roque, expressed his excitement about the acquisition, stating "We are thrilled to announce this expansion which reflects our dedication to strategic growth, operational excellence, and creating value for all stakeholders. The desirable attributes of the property combined with the robust rental market in Brantford, make it an exceptional addition to our portfolio, and position us for continued success."
Paul Holowaty, VP Operations, Income-Producing Properties, highlighted the operational advantages of the acquisition, stating "The purchase of this building will allow us to capitalize on operating synergies. With our existing ownership of the neighbouring property, we can streamline operations, optimize resources, and enhance overall efficiency. This acquisition positions us to better serve our residents while maintaining our commitment to sustainability and excellence."
Equiton Living will manage the property and rental inquiries can be made at www.equitonliving.com.
Equiton's Apartment Fund now comprises 34 properties with a total of 2,729 residential units. The Fund specializes in acquiring multi-residential properties in Canada and increasing their value through active management, targeting an annual net return of 8-12%. Investors benefit from monthly distributions from rental income and capital appreciation from property value increases.
Proudly Canadian-owned and operated, Equiton is a leading private equity firm that delivers notable returns for investors. We believe in making private real estate investing accessible to all Canadians and provide easy access to all types of investment-grade real estate through our proven high-performing investment solutions. We offer true diversification, full transparency, and all the benefits of real estate investing without the difficulties of financing, tenant management, building maintenance or project management.
For more information, visit www.equiton.com.
SOURCE Equiton
Kathy Gjamovska, VP, Marketing & Communications, [email protected], 289-208-0817
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