BURLINGTON, ON, March 5, 2020 – On March 4, 2020, the Equiton Residential Income Fund completed the purchase of a 48-unit apartment building located in Toronto, Ontario.
The property consists of a single 3 ½ storey building located in the affluent Beaches neighbourhood of Toronto. It is situated on approximately 0.6 acres of land and the building totals approximately 26,000 square feet of area. Amenities include 51 surface parking spots and laundry facilities.
“The building is in a premier location, next to new condo developments and in walking distance to restaurants, shopping, amenities and the Beaches Park on Lake Ontario,” notes Jason Roque, Chief Executive Officer at Equiton. “It’s in the immediate vicinity of public transit and only minutes from downtown Toronto,” he adds.
“We believe we can reposition the asset and add value in the short term by improving the property’s appearance and operations,” Roque goes on to say.
The acquisition of this property further enhances Equiton’s presence in Ontario, demonstrates its access to investment opportunities, and displays its ability to maximize unit value by accretive acquisitions and its active management process.
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.
For more information see: https://www.equiton.com
SOURCE : EQUITON