Yorkton Equity Group Inc. (TSXV:YEG) announced today the successful closing of the acquisition of The Crystallina, a 184-unit multi-family residential complex in Edmonton, Alberta, for a purchase price of $46.0 million. The transaction, initially announced on October 24, 2025, was completed on January 15, 2026, and was funded through a combination of the Company’s cash for the down payment and a Canada Mortgage and Housing Corporation (CMHC) insured mortgage of approximately $44.3 million. The mortgage bears interest at a fixed rate of 3.692% for a 5-year term and is amortized over 50 years. A fee of 0.50% of the committed loan amount was paid to a licensed mortgage broker for arranging the financing.
The Property, located at 17904, 17908, 17912 and 17916 - 78 Street NW in the Crystallina Nera East neighborhood, was constructed in 2016 and comprises three condominium-quality buildings and a free-standing amenity building with a fitness centre, social room, and leasing office. It sits on approximately 3.81 acres overlooking Crystallina Lake. The complex includes 51 one-bedroom, one-bathroom suites; 97 two-bedroom, one-bathroom suites; and 36 two-bedroom, two-bathroom suites, with an average suite size of 803 square feet and total net rentable space of 147,826 square feet. Each suite features an open-concept design, quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry. The buildings offer 128 underground parking stalls and 150 surface stalls, along with amenities such as a fitness centre, tenant lounge, energy-efficient solar panels, a community garden, and a pet run.
The Property was appraised at $46.75 million, with a projected total annual revenue of approximately $3.6 million and a projected total annual Net Operating Income (NOI) of approximately $2.2 million, reflecting a capitalization rate of 4.9%. The current occupancy rate stands at 98.4%. Yorkton management believes there is strong potential to grow NOI in the coming years, leveraging Edmonton's growing population, healthy economy, and affordable housing market.
“Yorkton is pleased to complete the acquisition of The Crystallina, adding another high-quality, condominium-grade rental property to our Edmonton portfolio,” said Ben Lui, President and CEO of Yorkton. “This follows our purchases of The Dwell (188 units) and The Fuse (125 units) and further increases our portfolio of high-quality, condominium-grade rental properties in Edmonton, Alberta. The city’s growing population, healthy economy, and affordable housing market make it an ideal location for expanding our portfolio. We look forward to successfully integrating The Crystallina into our portfolio and continuing our growth to enhance our profitable proposition for shareholders.”
Yorkton Equity Group is a growth-oriented real estate investment company focused on acquiring and managing multi-family rental properties with significant upside potential, primarily in Alberta and British Columbia. The management team has over 35 years of combined real estate experience. Further information is available on the Company's website at www.yorktonequitygroup.com and on SEDAR+ at www.sedarplus.ca.
This press release contains forward-looking information based on assumptions and expectations of management. Actual results may differ materially. Yorkton disclaims any intent to update forward-looking information except as required by law.
