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Completed acquisition of 174 units by Peninsula Capital Corporation, Canadian Business Journal, Rochester, NY

Toronto, March 23, 2022 (GLOBE NEWSWIRE) — Peninsula Capital Corp, a Canadian private company. (“PCC or Peninsula”) announced that it has completed the acquisition of 174 units (213 units) in Rochester, NY. The total purchase price, excluding transaction costs, is $ 12.75 million. This represents Peninsula’s entry into 2.nd PCC can speed up acquisition strategies across multiple markets.

“Entering this new market is not surprising given the proximity of our existing business in Buffalo, NY,” said Mike Apelton, CEO of The Peninsula. “With the addition of these 174 units, we are on the right track to reach our goal of acquiring 500 units in 2022. With the recently closed capital increase, we need the self to reach this goal. I have the capital. “

About The Peninsula Capital Corporation.
Peninsula Capital Corp. owns, acquires, and manages single-family rental (“SFR”) homes that are currently focused on northern New York. PCC was established to provide differentiated investment opportunities by investing in affordable residential properties that provide stable and high cash flow in markets with a high proportion of lessees. We provide tenants with affordable, high quality, safe and secure homes. PCC is focused on growth and specializes in identifying and acquiring stable and near stable homes with a strong tenant base. Approximately 95% of homes are acquired off-market through private sales and are procured using PCC’s deep market knowledge and experience. With full vertical integration and internalized asset management in 2019, PCC has a solid “field boots” and back office to manage both regional and regional growth from a central location. I am. Our investment is undertaken solely on the basis of cash flow benefits. House price increases are purely upwards. PCC’s existing portfolio consists of 527 units (795 units in total), achieving the 2022 acquisition target of owning more than 900 units.

Information about the future outlook
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Completed acquisition of 174 units by Peninsula Capital Corporation, Canadian Business Journal, Rochester, NY

Source link Completed acquisition of 174 units by Peninsula Capital Corporation, Canadian Business Journal, Rochester, NY

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