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Alberta & Prairies  + Multi-residential Housing  | 
Yorkton Equity Group has acquired the Fuse multi-family complex in Edmonton for $25.6.

Yorkton Equity Acquires Edmonton’s Fuse for $25.6M

Yorkton Equity Group has acquired the Fuse multi-family complex in Edmonton for $25.6 million.

The Edmonton-based company purchased the 125-unit rental property in the third quarter of 2023. The property stretches from 2105 to 2109 68 Street S.W. in the Summerside neighbourhood.

Yorkton said in its third quarter report that the acquisition was financed with a $24.4-million mortgage with a fixed 4% annual interest rate from the Canada Mortgage and Housing Corporation. As a condition on the mortgage payable, Yorkton must maintain at least 80% of the suites as “affordable units” as defined by CMHC.

The federal housing corporation defines an affordable unit one that does not exceed 30% of gross annual household income.

Yorkton acquired the Fuse after purchasing the 188-unit Dwell apartment complex in Edmonton for $47.1 million in February. The company said it holds 393 units (the total in the Fuse and Dwell) and 28,036 square feet of commercial space.

The total portfolio is valued at $96.73 million, a 71.7% year-over-year increase from the third quarter of 2022.

Photo: Yorkton Equity Group

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Yorkton Equity GroupBen Lui

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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