Featured Acquisition
Central Tower at 2610 109 STREET NW, Edmonton, AB, T6J 5L7
The Equiton Residential Income Fund Trust (Apartment Fund) has acquired a fourth property in Alberta, strengthening its Western Canada holdings. Located 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. Residents will enjoy living in a newly built, well-located community featuring high-end amenities.
WHY WE CHOSE TO ADD THIS PROPERTY TO OUR PORTFOLIO:
Rental Market Tailwinds: 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.
Stable cash flow: The new property complements the Apartment Fund’s value-add portfolio with stabilized cash flow and lower capital expenditure and maintenance requirements.
Geographic diversification: Alberta is a natural fit alongside the Apartment Fund’s strong presence in Ontario’s top-performing regions, bolstering the Fund’s resilience through all types of market conditions.
Operational Efficiency: Now with multiple properties in Alberta, the Apartment Fund also benefits from operational synergies that help lower expenses for maintenance, management, and shared services.
Competitive Features: In competitive, market-driven rental environments like Edmonton’s, Central Tower’s prime location, access to transit, and high-end amenities make it a desirable community for residents.
LOCATION:
Central Tower is located in the city’s growing south end, where ongoing development continues to add convenience and walkable amenities for residents. Grocery stores, restaurants, and shopping are all 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.
PROPERTY AND UNIT DETAILS:
Central Tower is an 18-storey residential apartment building with 175 units and 185 indoor parking spaces. Building amenities include a yoga room, cycling studio, golf simulator, pet wash, and social room. Central Tower’s spacious, open-concept units come well-appointed with modern finishes, premium appliances, and panoramic private balcony views. Together, this community’s attractive features are expected to help maintain high occupancy and minimize lease downtime.
