EQUITON RESIDENTIAL INCOME FUND ACQUIRES BURLINGTON APARTMENT BUILDINGSeptember 3, 2019
FOR IMMEDIATE RELEASE: SEPTEMBER 3, 2019
EQUITON RESIDENTIAL INCOME FUND ACQUIRES BURLINGTON APARTMENT BUILDING
BURLINGTON, ON, September 3, 2019 – On August 30, 2019, the Equiton Residential Income Fund completed the purchase of an 18-unit apartment building located in Burlington, Ontario.
Recently ranked the number one city to live in Canada by Mcleans, Burlington residents enjoy great access to health care and the amenities of a big city, including entertainment options, in addition to access to the natural environment. They have the option of commuting within the Greater Toronto Area or working in Burlington itself, which is home to many major employers.
The property itself consists of a single 2-storey walk-up building. It is situated on approximately 0.72 acres of land with 20 surface-parking spaces. Amenities include on-premises laundry facilities.
The building is located in a quiet neighbourhood and backs onto a large park, which includes a children’s playground and local tennis courts. It is conveniently located near public transportation, and within close proximity to local services and shopping (including one of the city’s main shopping centres). There is easy access to local highways.
The purchase 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.
“With a value-add program, we’ll have the opportunity to improve the building’s performance and create a desirable boutique property in a quiet and desirable neighbourhood,” noted Jason Roque, Chief Executive Officer at Equiton.
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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