FOR IMMEDIATE RELEASE: JULY 28, 2020
EQUITON RESIDENTIAL INCOME FUND ACQUIRES TWO GUELPH APARTMENT BUILDINGS
BURLINGTON, ON, July 28, 2020 – On July 28, 2020, the Equiton Residential Income Fund completed the purchase of two apartment buildings, totaling 112 units, located in Guelph, Ontario.
The properties are centrally located residential complexes within walking distance to Stone Road Mall and the adjacent commercial and services corridor. They are also located only two blocks from the University of Guelph and have 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.
“These buildings are adjacent to properties we currently own in Guelph, and the addition of these buildings will create opportunities for operational efficiencies,” says Equiton’s CEO, Jason Roque.
The acquisition of these properties 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.
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