Yorkton Equity Group Inc. has successfully closed the acquisition of The Crystallina, a 184-unit multi-family residential complex in Edmonton, Alberta. The transaction, which was initially announced on October 24, 2025, was completed on January 15, 2026, for a purchase price of $46.0 million. This acquisition represents a strategic expansion of Yorkton's portfolio in Edmonton's rental housing market.
The property consists of three condominium-quality buildings and a standalone amenity building situated on approximately 3.81 acres of land overlooking Crystallina Lake in the Crystallina Nera East neighborhood. The complex features 51 one-bedroom suites, 97 two-bedroom with one-bathroom suites, and 36 two-bedroom with two-bathroom suites, with an average suite size of 803 square feet and total net rentable space of 147,826 square feet. Each suite includes quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry, while the property offers 128 underground parking stalls and 150 surface parking stalls.
Financing for the acquisition was structured through a combination of the company's cash for the down payment and a Canada Mortgage and Housing Corporation insured mortgage of approximately $44.3 million, inclusive of financing costs. The mortgage bears interest at a fixed rate of 3.692% for a five-year term and is amortized over fifty years. Yorkton paid a fee of 0.50% of the committed loan amount to a licensed mortgage broker for arranging the financing.
The property was appraised at $46.75 million with projected total annual revenue of approximately $3.6 million and projected total annual Net Operating Income of approximately $2.2 million, representing a capitalization rate of approximately 4.9%. With a current occupancy rate of 98.4%, Yorkton believes there is strong potential to grow the NOI in coming years. This acquisition follows Yorkton's previous purchases of The Dwell (188 units) and The Fuse (125 units) in Edmonton, further consolidating the company's presence in the city's rental market.
Ben Lui, President and CEO of Yorkton, stated that Edmonton's growing population, healthy economy, and affordable housing market make it an ideal location for expanding the company's portfolio. The property's amenities include a fully equipped fitness center, modern tenant lounge, leasing office, energy-efficient solar panels, community garden, and pet run, positioning it as a competitive offering in the multi-family residential sector.
This transaction highlights the continued investor interest in Alberta's rental housing market, particularly in urban centers experiencing population growth. The use of CMHC-insured financing demonstrates the availability of government-backed lending options for residential real estate acquisitions, which can facilitate larger transactions in the sector. For residents of Edmonton, the acquisition represents continued institutional investment in the city's housing stock, potentially influencing rental market dynamics and property management standards.
Further information about Yorkton is available on the Company's website at https://www.yorktonequitygroup.com and the SEDAR+ website at https://www.sedarplus.ca.
