Evton Capital Partners

Evton Capital Partners

June 14, 2010 07:00 ET

Evton Capital Partners Purchase Commercial Property at 5075 Yonge Street

Acquisition Will Continue to Strengthen Evton Real Estate Fund LP

TORONTO, ONTARIO--(Marketwire - June 14, 2010) - Evton Capital Partners, managers of Evton Real Estate Fund LP, today announced the acquisition of 5075 Yonge Street in Toronto.

The ten-storey, 85,586-square-foot commercial property was purchased by the Fund for $20 million. Based in the heart of the city's North Yonge corridor – an area burgeoning with new construction – the property will increase the assets of the Fund to approximately $77 million.

"We're excited about the prospects for 5075 Yonge Street," said Michael Bunston, partner and co-founder of Evton Capital Partners. "The acquisition is fully in line with our strategy of focusing on non-core institutional B-class commercial properties in southern Ontario and the GTA, where we believe we can create future value. Ownership further strengthens our belief in the Fund's long term success."

The property is currently 98.6 per cent leased, with anchor tenant The Bank of Nova Scotia occupying a significant amount of street level retail space.

ABOUT EVTON CAPITAL PARTNERS

Evton Capital Partners is a commercial real estate investment and property management firm based in Toronto. Since its inception in 1995, the company has completed over $200 million in commercial real estate transactions in Ontario and Alberta. Evton is focused on acquiring private Canadian real estate investment opportunities for high-net-worth investors. Through selective and managed growth the Evton Real Estate Fund LP has accumulated over $77 million in assets under management since its inception in 2005. Past performance is not a guarantee of future returns. For more information please visit www.evton.com.

Contact Information

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    Kate Walsh
    416-599-0024 ext.229
    kate@mcipr.com