Yorkton Equity Group Inc. announced the successful closing of the acquisition of the "The Dwell", a 188 unit multi-family residential complex, with construction completed in 2022, comprising of two luxury condominium grade buildings situated on approximately 3.31 acres of land located in the Schonsee neighborhood at 5530 and 5538 Schonsee Drive NW, Edmonton, Alberta. This acquisition, previously announced on January 23, 2023 and updated on February 6, 2023, was successfully completed on February 27, 2023 for a purchase price of $41,736,000 which has been funded by a combination of a cash down payment, using the Company's unencumbered cash reserve, and a Canada Mortgage and Housing Corporation insured mortgage. This recently constructed property is expected to have low operating costs, and it has already achieved 100% occupancy with a projected total annual revenue of approximately $3.4 million or an annual Net Operating Income of about $2.1 million based on the current rent roll and market vacancy rates, as well as a capitalization rate of approximately 5% based on the purchase price, with a strong potential to grow in the coming years.

The Property is comprised of 32 one-bedroom with one-bathroom suites, 9 one-bedroom plus den with one-bathroom suites, 143 two-bedroom with two-bathroom suites, and 4 three-bedroom with two-bathroom suites. Each suite is equipped with in-suite laundry, 6-piece energy efficient stainless-steel appliances, designer cabinetry with quartz countertops and full height tile backsplash, luxury flooring and lighting packages, upgraded bathroom and plumbing fixtures, air conditioning in select units, 9-foot ceilings in all suites, energy efficient windows throughout, together with 191 heated underground parking stalls and seventy-three (73) surface parking stalls. The buildings are equipped with elevators serving all levels, with a designated elevator and loading zone for move in/out access and featuring extra wide corridors and spacious lobby for ease of wheelchair access.

The Property also includes amenities such as a social room for entertaining, fitness center, two pet wash stations, a bicycle storage room, heated storage lockers on each floor, and enhanced security and safety features.