Yorkton Equity Group Inc. (TSXV:YEG) announced the successful closing of its acquisition of The Crystallina, a 184-unit multi-family residential complex in Edmonton, Alberta, on January 15, 2026. The purchase price of $46.0 million was funded through a combination of company cash and a Canada Mortgage and Housing Corporation (CMHC) insured mortgage of approximately $44.3 million. The mortgage carries a fixed interest rate of 3.692% for a five-year term and is amortized over 50 years. The company paid a fee of 0.50% of the committed loan amount 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 appraised at $46.75 million. It consists of three condominium-quality buildings and a standalone amenity building featuring a fitness centre, social room, and leasing office. The complex, built in 2016, sits on approximately 3.81 acres overlooking Crystallina Lake. It includes 51 one-bedroom, one-bathroom suites; 97 two-bedroom, one-bathroom suites; and 36 two-bedroom, two-bathroom suites. The average suite size is 803 square feet, with total net rentable space of 147,826 square feet. Each suite offers open-concept design, quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry. Amenities include underground parking (128 stalls) and surface parking (150 stalls), a fitness centre, tenant lounge, solar panels, community garden, and pet run.
The property is projected to generate total annual revenue of approximately $3.6 million and net operating income (NOI) of approximately $2.2 million, representing a capitalization rate of about 4.9%. Current occupancy stands at 98.4%. Yorkton believes there is strong potential to grow NOI in the coming years. President and CEO Ben Lui stated, "Yorkton is pleased to complete the acquisition of The Crystallina, adding another high-quality, condominium-grade rental property to our Edmonton portfolio. 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."
Yorkton Equity Group is a growth-oriented real estate investment company focused on multi-family rental properties in Alberta and British Columbia. The management team has over 35 years of combined experience in acquiring and managing rental assets. 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 certain expectations and assumptions. Yorkton disclaims any intent to update such information except as required by securities laws. The securities described have not been registered under the U.S. Securities Act and may not be offered or sold in the United States without an exemption.
