Equiton’s Apartment Fund has surpassed $1 billion in assets under management following the acquisition of a multi-family complex in Welland, Ont.

The fund acquired a four-building site at 200-230 Denistoun Street on Welland’s waterfront, bringing its total AUM to $1.01 billion. The 388 rental units comprise more than half of the city’s newer-generation suites, said Equiton.

“That we mark this milestone at a time of difficulty for some real estate firms is really no coincidence,” said Jason Roque, Equiton’s founder and CEO. “We have grown the Apartment Fund rapidly over the years, but our progress has always been underpinned by a deep commitment to conservative management.

“This has enabled us to consistently reward investors and enhance resident satisfaction. The fund continues to be an active buyer and steward of rental properties and has seen a rapid inflow of new investors. We look forward to helping them meet their financial goals.”

Following the expansion into the Niagara region, the private-equity firm’s footprint now encompasses most of Ontario’s Greater Golden Horseshoe, which also includes the Greater Toronto Area, Hamilton, Guelph, Kitchener-Waterloo, and Brantford.

Since launching in 2016, the Apartment Fund has acquired 38 residential properties with 3,117 income producing portfolio units across Canada, delivering an 11% return. Burlington, Ont.-based Equiton also operates a multi-family property management arm, Equiton Living.

Photo: Equiton