Edmonton Rental Market Boom Sparks Equiton’s Latest Acquisition Play
BURLINGTON, ON July 22, 2024 – The Equiton Residential Income Fund Trust (Apartment Fund) has acquired a fourth property in the Alberta, strengthening its Western Canada holdings. Located in the city’s south end at 2610 109 Street NW, Central Tower spans 175 purpose-built rental units and will further enhance the Fund’s geographic diversification.
The Apartment Fund now includes more than 700 units in the province, giving investors meaningful exposure to some of Western Canada’s fastest-growing rental markets while creating operational synergies that help lower expenses for maintenance, management, and shared services.
“Our Edmonton properties have meaningfully strengthened the Fund — and that momentum is something we’re looking to build on,” says Jason Roque, CEO and founder of Equiton. “Diversifying across key markets has been a big part of what’s made the Fund so resilient, and Alberta is a natural fit alongside our strong presence in Ontario’s top-performing regions.”
Alberta leads the country in population growth, welcoming nearly 200,000 new residents between 2023 and 2024. Edmonton alone added nearly 65,000 people — a 5.7% increase — with rents rising 8% in line with the city’s growing appeal during the same period.
“Edmonton is one of the fasted-growing regions in Canada. Scaling up our operations there lets us tap into its strong fundamentals,” adds Ryan Donkers, VP, Investments. “Demand keeps rising with interprovincial migration and urbanization trends, and we’re well positioned to meet it.”
A suite of high-end fitness amenities — including a yoga room and cycling studio — helps the newly built property stand out in the competitive, market-driven rental environment. Urban amenities, from grocery stores to restaurants and shopping, are within walking distance, while Century Park LRT station puts downtown Edmonton within a half-hour journey by transit. Commuters enjoy direct access to Gateway Boulevard and Calgary Trail highways.
“We’re proud to be a part of the city’s vibrant, growing south end,” adds Donkers, noting ongoing development in the area continues to add more convenience and walkable amenities for residents.
As an active buyer, Equiton continues to advance its national expansion strategy as it explores further acquisition opportunities in Alberta and Western Canada.
The Fund now comprises 43 properties across Canada, with a total of 3,914 portfolio 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.
ABOUT EQUITON
Equiton is a leading private equity real estate investment firm offering a range of institutional-grade investment solutions, backed by a strong track record of consistent returns, industry-leading governance practices, and a focus on resident satisfaction. We provide true diversification, full transparency, and all the benefits of real estate investment, without the difficulties of financing, tenant management, building maintenance, or project management. All properties are professionally managed by Equiton’s in-house team to ensure long-term value and performance.
For more information, visit www.equiton.com.
MEDIA CONTACT
Kathy Gjamovska
VP, Marketing & Communications
media@equiton.com
289-208-0817
