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
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities law. Information about the future outlook may relate to our future financial outlook and expected events or outcomes, including our financial position, business strategy, growth strategy, available markets, budgets, operations, financial results, Taxes, dividend policies, plans and objectives. In particular, information about our future performance, performance, performance, outlook or opportunity, or information about the markets in which we operate, is information about our future outlook. In some cases, information about future prospects can be found in “Plans”, “Goals”, “Expectations”, “Budgets”, “Schedules”, “Quotations”, “Forecasts”, “Forecasts”, “Projects”, “Forecasts”. , “Strategy”, “Intention”, “Expectation”, “Believe”, or variations of words, phrases, or statements such as “potential”, “potential”, or specific action, event, or outcome. , “Would”, “might”, or “will” will occur. In addition, statements that refer to expectations, intentions, expectations, or other characteristics of future events or situations contain information about the future outlook. Statements containing forward-looking information represent management’s expectations, estimates, and forecasts of future events or situations, not past facts.

Forward-looking information is inevitably subject to known and unknown risks, uncertainties, assumptions and other effects, although we believe it is appropriate and reasonable as of the date of this press release. It is based on many opinions, estimates and assumptions. Information about such future prospects, where actual results, levels of activity, performance, or outcomes include, but are not limited to, risks and uncertainties associated with market conditions, and all applicable satisfaction. Factors that may differ materially from those expressed or implied Regulatory requirements, as well as risks and uncertainties associated with our business.

If any of these risks or uncertainties become apparent, or if the opinions, estimates, or assumptions underlying information about the future outlook are found to be incorrect, the actual results or future events will be: Information on such future prospects can differ materially from what is expected.

Readers should not place excessive reliance on information about future prospects. We disclaim any intentions, obligations or promises to update or revise future outlook information as new information, future events, or otherwise as required by applicable securities law.

CBJ News Maker

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

Related Articles

Back to top button