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 the company's cash and a Canada Mortgage and Housing Corporation (CMHC) insured mortgage of approximately $44.3 million, bearing a fixed interest rate of 3.692% for a five-year term and amortized over 50 years. The property was appraised at $46.75 million and is projected to generate total annual revenue of approximately $3.6 million and a net operating income (NOI) of about $2.2 million, reflecting a capitalization rate of approximately 4.9%. With a current occupancy rate of 98.4%, Yorkton sees strong potential to grow NOI in the coming years.
Located in the desirable Crystallina Nera East neighborhood, The Crystallina comprises three condominium-quality buildings and a freestanding amenity building with a fitness centre, social room, and leasing office, situated on approximately 3.81 acres overlooking Crystallina Lake. The property 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. Amenities include underground and surface parking, a fitness centre, tenant lounge, energy-efficient solar panels, a community garden, and a pet run.
This acquisition follows Yorkton's previous purchases of The Dwell (188 units) and The Fuse (125 units) in Edmonton, further solidifying its presence in Alberta. Ben Lui, President and CEO of Yorkton, stated that the company is pleased to add another high-quality rental property to its portfolio, citing Edmonton's growing population, healthy economy, and affordable housing market as ideal conditions for expansion. The management team, with over 35 years of real estate experience, aims to achieve growing NOI and asset values through accretive acquisitions and active management. Further information about Yorkton is available on the company's website at www.yorktonequitygroup.com and on SEDAR+ at www.sedarplus.ca.
