BURLINGTON, ON, April 1, 2021– The Equiton Residential Income Fund has completed the purchase of two apartment buildings, in the Beasley neighbourhood of East Hamilton.
Located at 125 Wellington Street North and 50 Cathcart Street, the connected buildings contain a total of 360 Bachelor, 1, 2, and 3-Bedroom suites, and occupy nearly an entire city block.
Wellington Place is conveniently located only minutes from downtown Hamilton, and a short commute to McMaster University. Nearby are several public parks, public transit, GO Transit, Hamilton General Hospital, and St. Joseph’s Healthcare.
This acquisition demonstrates Equiton’s continued commitment to geographic expansion in prime markets and the realization of economies of scale. One of the largest purchases to date, it increases Equiton’s suite count by 35%, bringing the total portfolio to just under 1400 units, and kicks off what is expected to be a highly active year of acquisitions for the company.
“This represents Equiton’s entry into the Hamilton market and it offers a size and scope which will provide operational efficiencies, allow us to build our management infrastructure in the area, and unlock the potential for future acquisitions.” stated Jason Roque, Equiton Founder and Chief Executive Officer.
“Equiton will undertake value-add capital investments and improvements which will raise the profile of the buildings and contribute to the ongoing revival of the area as a whole,” Roque adds.
Hamilton is recognized as one of Ontario’s fastest growing economies and is home to world-class post-secondary institutions and a world-renowned research hospital with the largest hospital-based workforce in Ontario. It has a strong manufacturing sector and an abundance of technologically advanced and innovative companies, with recent investments from Amazon, IBM, Nokia, Maple Leaf, Fraunhofer, and Stryker. At an opportune location for national and international trade, the city boasts the busiest port in all the Canadian Great Lakes, and an International Airport that is the busiest overnight express cargo airport in the country.
Founded in 2015, Equiton is a private equity firm that specializes in providing private market real estate investments to Canadians. We purchase and manage residential and commercial income properties and invest in real estate development projects. With a single-minded focus on real estate investments such as private REITs, commercial and residential real estate properties, developments and financing, we’ve been able to build an enviable track record of exceptional results and exponential growth.
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