Yorkton Equity Group Inc. has successfully closed the acquisition of The Crystallina, a 184-unit multi-family residential complex in Edmonton, Alberta, for $46.0 million. The transaction, previously announced in October 2025, was completed on January 15, 2026, and represents a strategic expansion of Yorkton's portfolio in Western Canada's rental property market.
The purchase was funded through a combination of company 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. The company paid a fee of 0.50% of the committed loan amount to a licensed mortgage broker for arranging the financing.
The property, constructed in 2016 and comprising three condominium-quality buildings with a standalone amenity building, was appraised at $46.75 million. It generates 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%. The property currently maintains a 98.4% occupancy rate, and Yorkton believes there is strong potential to grow the NOI in coming years.
"Yorkton is pleased to complete the acquisition of The Crystallina, adding another high-quality, condominium-grade rental property to our Edmonton portfolio," said Ben Lui, President and CEO of Yorkton. "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."
The property 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. All suites feature condominium-quality finishes including quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry. The complex includes 128 underground parking stalls and 150 surface parking stalls, along with amenities such as a fitness centre, tenant lounge, leasing office, energy-efficient solar panels, community garden, and pet run.
This acquisition demonstrates continued investor confidence in Alberta's multi-family residential market, particularly in Edmonton where population growth and economic factors support rental property investments. The use of CMHC-insured financing at favorable fixed rates provides Yorkton with stable long-term capital structure for this asset. 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.
The transaction highlights the ongoing consolidation in Western Canada's rental property market, with institutional investors acquiring newer, high-quality assets in growing urban markets. For business and technology leaders monitoring real estate investment trends, this acquisition signals continued capital flow into purpose-built rental housing in markets with strong fundamentals, potentially influencing future development and investment patterns across the region.
