TORONTO, ONTARIO--(Marketwire - June 12, 2012) - Evton Capital Partners, manager of the Evton Real Estate Fund LP, recently completed the refinancing of three key office assets in the fund's portfolio of value-add properties.
The three properties, 5075 Yonge Street, 2323 Yonge Street, and 1 St. Clair Avenue West, were refinanced with two Canadian financial institutions for an aggregate loan amount of $46.3 million.
"We are very pleased with this transaction as we continue to add value for our Limited Partners in the Evton Real Estate Fund LP, while preserving a conservative debt to gross asset ratio of 57% on the portfolio" said D'Arcy McGee, President of Evton Capital Partners. "The net proceeds of this refinancing will be used to capitalize on value-add opportunities in the current portfolio, as well as continue to deploy capital executing on our acquisition strategy."
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 32 acquisitions representing approximately $150 million in invested capital in Ontario and Alberta, with a gross internal rate of return of 31% on realized and unrealized investments. Evton is focused on acquiring private Canadian real estate investment opportunities for institutional and high-net-worth investors.