Yorkton Equity Group Inc. has completed the acquisition of The Crystallina, a 184-unit multi-family residential complex in Edmonton, Alberta, for $46.0 million. The transaction, which closed on January 15, 2026, was funded through a combination of company cash and a Canada Mortgage and Housing Corporation insured mortgage of approximately $44.3 million at a fixed interest rate of 3.692% for a five-year term.
The property, constructed in 2016 and comprising three condominium-quality buildings on 3.81 acres overlooking Crystallina Lake, was appraised at $46.75 million. It currently maintains a 98.4% occupancy rate with projected annual revenue of approximately $3.6 million and net operating income of about $2.2 million, representing a capitalization rate of approximately 4.9%. Yorkton anticipates strong potential for NOI growth in coming years, positioning the acquisition as a strategic addition to their Edmonton portfolio.
This acquisition follows Yorkton's previous purchases of The Dwell (188 units) and The Fuse (125 units) in Edmonton, reflecting the company's focused expansion strategy in Alberta's capital city. "The city's growing population, healthy economy, and affordable housing market make it an ideal location for expanding our portfolio," said Ben Lui, President and CEO of Yorkton. The company's geographical focus remains on Alberta and British Columbia, markets characterized by diversified economies and strong population in-migration.
The Crystallina features 51 one-bedroom, 97 two-bedroom with one-bathroom, and 36 two-bedroom with two-bathroom suites averaging 803 square feet, totaling 147,826 square feet of net rentable space. Each condominium-quality suite includes quartz countertops, stainless steel appliances, walk-in closets, and in-suite laundry. The property offers 128 underground and 150 surface parking stalls, along with amenities including a fitness centre, tenant lounge, leasing office, solar panels, community garden, and pet run. 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's significance extends beyond the immediate financial metrics, reflecting broader trends in Western Canada's real estate investment landscape. With CMHC-insured financing at historically favorable rates and properties demonstrating strong occupancy and income potential, institutional investors continue to target multi-family residential assets in growing urban markets. Edmonton's position as an affordable alternative to other major Canadian cities, combined with population growth and economic diversification, makes it particularly attractive for real estate investment trusts and similar entities seeking stable, income-generating properties.
For the Edmonton rental market, such acquisitions by established investment groups typically signal continued professionalization of property management and potential upgrades to existing housing stock, though they may also contribute to market consolidation. The transaction's structure, utilizing significant CMHC-backed financing, demonstrates the ongoing role of government-insured mortgages in facilitating large-scale real estate transactions while managing lender risk in the multi-family residential sector.
