September 26, 2011 (Calgary, AB) - avenue living is pleased to annouce the recent purchase of a 126 unit portfolio of apartment properties in Yorkton, Saskatchewan. This $7.77 million multi-residential apartment portfolio represents 4 distinct sites all in relatively close proximity all within Yorkton city limits. "We remain bullish on the future of Saskatchewan, which is one of the reasons why I believe that apartment assets future earning potential or investment yield haven't been fully priced in yet", states Carl Diodati, Chief Investment Officer of Avenue Living. He adds: " We continue to make accretive acquisitions, with rental upside, at values well below replacement costs. This addition in particular will enable us the strengthen our infrastructure in the southern part of the Province to ensure we accelerate our abilities to create value for both our stakeholders and our customers."
About avenue living
Based in Calgary, Alberta, avenue living is Western Canada's fastest growing private apartment building owner and operator. We came from humble beginnings with a few buildings in Southern Alberta, and in just over four years have grown to manage over 2000 rental apartments in the Prairie Provinces. We now own and operate buildings in Brooks, Edmonton, Lethbridge, Moose Jaw, Regina, Saskatoon, Swift Current, Winnipeg and Yorkton, and continue to expand into new markets. Despite our rapid growth, we remain primarily focused on placing our valued customers’ needs first and providing them with quality homes and apartments for rent. We also believe in providing our customers with housing solutions that let them actively participate in reducing their impact on our environment when renting with us, by continuing to upgrade our buildings to make them more energy efficient.
avenue living | 403.984.9363 | Calgary, Alberta | www.avenueliving.ca