Vancouver, British Columbia--(Newsfile Corp. - June 9, 2021) - Yorkton Equity Group (TSXV: YEG), a fully integrated, growth-oriented real estate investment company, is today's featured company video with Investmentpitch Media. The company invests in multifamily rental properties under a risk averse business model, such as apartment buildings and townhouse complexes, with significant upside potential focusing on cities with strong population in-migration, with an initial focus in British Columbia.
For more information, please view the InvestmentPitch Media "video" which provides additional information on the company and this news including video comments by Bill Smith, Chairman, and Ben Lui, President, of Yorkton Equity Group. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Yorkton Equity" in the search box.
Yorkton Equity Group is built on the solid foundations of the multi award winning Yorkton Group of companies, with more than 30 years' experience in real estate. The company enjoys the financial and operational backing of the Yorkton Group of companies and is focused on growing the net asset value and net operating income of its portfolio through organic growth as well as operational efficiencies.
Management believes the COVID-19 pandemic provides tremendous real estate investment opportunities for the company, given the low interest rate environment, and the greater supply of available properties. Increased immigration levels in the coming years, as recently announced by the Federal Government are also expected to have a positive impact on the rental market. In addition, the surging prices of real estate in high growth cities are driving people into the residential rental market.
In Edmonton, its current portfolio includes a 100% interest in the Pacific Mall, which has been generating strong cash flow, and is a holding property for future disposition for a $200 million mixed used development, and the 62-unit apartment condominium Riviera Gardens. In addition, the company has a 25% interest in the Yorkton 108 limited partnership which is a 193-unit apartment condominium development project in the Surrey City Centre. It also has purchase contracts to acquire two more residential rental properties; a 19-unit luxury townhouse complex in Kelowna and a 16-unit apartment in Langford Victoria. These properties have combined appraised values of approximately $58 million, and $24 million in net asset value.
In the coming months, the company plans to deploy an aggressive multifamily rental property acquisition strategy consistent with its risk averse business model.
Since its listing on the TSX Venture Exchange on November 20th, the share price has nearly doubled from $0.20 to the current $0.35 price. The company is well funded having completed a number of private placements, with the recent May offering oversubscribed by more than 40%. Yesterday the company launched a new non-brokered private placement and is looking to raise gross proceeds of up to $2 million from the placement of 6,666,667 units priced at $0.30 per unit. Each unit contains a full warrant exercisable at $0.45 for 24 months, subject to an acceleration clause.
For more information, please visit the company's website www.YorktonEquityGroup.com, contact Ben Lui, CEO, at 780-409-8228. For investor relations or information on this latest offering, call 780-907-5263 or email investors@YorktonGroup.com.
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Barry Morgan, CFO
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