BURLINGTON, ON, June 25,
2024 /CNW/ - The Equiton Residential Income Fund
Trust (The Apartment Fund) has acquired a group of four mid-rise
rental properties in Welland,
Ontario, situated in the heart of the Niagara Region.
With the addition of 200-230 Denistoun Ave. to its portfolio,
Equiton will actively manage approximately 14% of the local
market's primary rental stock. The 388 newly obtained units
comprise more than half of the city's newer-generation rental
suites.
Apartments feature generous layouts and many offer picturesque
views over the adjacent Welland
Canal and nearby nature trails. Residents will enjoy a
central location a short drive from Downtown Welland, shopping centres, a
hospital, as well as Brock University
and Niagara College. A burgeoning bedroom community, Welland offers
a peaceful haven for a wide range of residents, from students and
families, to working professionals and seniors.
With Equiton's expansion into the Niagara Region, the firm's
footprint now encompasses most of Ontario's Greater Golden Horseshoe, which also
includes the GTA, Hamilton,
Guelph, Kitchener-Waterloo, and Brantford. Niagara Region has experienced
steady economic and population growth, boosting the region's
attractiveness.
"This premier location along the Welland waterfront offers
residents the best of both worlds: relaxing greenspaces at home and
easy access to the economic hubs of Hamilton, St.
Catharines, and the U.S. border," says Equiton CEO and
founder Jason Roque. "We're thrilled
to provide value to our residents and meet the growing demand for
quality housing in the region."
Many residents of the well-maintained properties are long-time
tenants. Over the coming years, one of Equiton's main goals will be
to enhance the vibrant community and living experience.
"We're serious about our role as custodians of Canada's rental housing stock. It is very
important to us that any upgrades we make over the years will
benefit our residents and investors alike," says Paul Holowaty, Equiton's Vice President of
Operations Income-Producing Properties.
With many major repairs and capital-intensive upgrades already
implemented within the last 10 years, Holowaty anticipates
potential improvements will include modernizing common areas and
installing systems to reduce energy consumption and help residents
save money.
Equiton Living will manage the property and rental inquiries can
be made at www.equitonliving.com.
Equiton's Apartment Fund now comprises 38 properties in
Ontario and Alberta with a total of 3,117 residential
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
Proudly Canadian-owned and operated, Equiton is a leading
private equity firm that delivers solid returns for investors. We
believe in making private real estate investing accessible to all
Canadians and provide easy access to all types of investment-grade
real estate through our proven high-performing investment
solutions. We offer true diversification, full transparency, and
all the benefits of real estate investing without the difficulties
of financing, tenant management, building maintenance or project
management.
For more information, visit www.equiton.com
SOURCE Equiton