TORONTO, Sept. 13, 2022 (GLOBE NEWSWIRE) — Bluevale Capital Group (“Bluevale”) Mariner Watch Apartments The heart of Maple Ridge, British Columbia. This is his second major acquisition of Bluevale in 2022, as the company continues its current expansion plans into western Canada. Mariner Watch Apartments A 21-unit multifamily waterfront property in Haney, Maple Ridge’s largest neighborhood. Closing was completed with financing from KingSett Capital.
Bluevale Co-Founder and Managing Director Jefferson Huang said: With over 200 unit developments literally right next to us, the profile of the neighborhood changes. In Maple Ridge, population growth has increased by 10% over the past five years, twice as much as in Vancouver. Because of that growth rate and the lack of affordable housing available, we were very enthusiastic about this particular sector.
“We would like to thank everyone involved in this project, especially our new investor from British Columbia,” adds co-founder and managing director Samuel Karamanis. “We are very keen to maximize investor opportunities prior to ownership. The optimization phase will begin immediately and the project will be completed in about six months, eight months ahead of schedule.”
Jonathan Thomson, Director of Mortgage Investments at KingSett, commented: We look forward to future opportunities for both companies to work together. “
Bluevale Capital Group is an investment management firm that specializes in acquiring, optimizing and managing multifamily and residential real estate assets. We leverage our extensive real estate experience to deliver superior risk-adjusted returns to our investors. Through our extensive private network, Bluevale identifies uniquely positioned real estate assets that meet our strict investment criteria.
KingSett Capital is a Canadian private equity real estate investment business that creates and co-invests real estate investment solutions to deliver sustainable premium risk-weighted returns. Founded in 2002, KingSett has raised his $13.4 billion stake for growth, income, urban, mortgage and affordable housing strategies. KingSett manages his $17 billion in assets in a $19 billion portfolio. KingSett continues to seek investment opportunities in a wide range of properties, developments, joint ventures and mortgages.
Bluevale Capital expands into Metro Vancouver with the acquisition of Mariner Watch Apartments with funding from The Canadian Business Journal’s KingSett Capital.
Source link Bluevale Capital expands into Metro Vancouver with the acquisition of Mariner Watch Apartments with funding from The Canadian Business Journal’s KingSett Capital.