Calgary, Alberta (PRWEB) April 30, 2010
The Walton Group of Companies announced the successful completion of unit placements for Walton's McConachie Development Limited Partnership.
McConachie Development Limited Partnership attained a final closing on April 9, 2010, with a total of $64,000,000 CAD invested.
Walton’s McConachie Development project is in Edmonton, Alberta, and is comprised of approximately 350 acres of developable and planned real estate within the approved McConachie Neighbourhood Structure Plan. Located in the northeast corner of the city, the area provides ideal access to Alberta’s Industrial Heartland District in the adjacent counties of Strathcona and Sturgeon. Over the next 15 years, Northeast Edmonton is forecast to be one of the stronger growth nodes in the metropolitan region. According to Alberta Finance and Enterprise, approximately $45 billion in capital projects are planned for this district over the next decade, which are anticipated to fuel the demand for housing.
The McConachie Development is projected to be completed in seven stages over a span of nine years. When completed, the community will provide approximately 1,750 single family homes and approximately 30 acres of multi-family development.
Walton has been researching and participating in North American real estate markets for thirty years. To date, Walton and its affiliates have completed the syndication of over 250 land and development projects across North America, including 118 projects in Alberta encompassing a total of approximately 14,874 acres of syndicated land. As with other Walton projects, Walton companies continue to act as manager of the McConachie Development project on behalf of partners, and maintain a significant ownership interest in the Edmonton property alongside other investors.
Over the past year, Walton has announced the completed syndication of 15 land-based real estate investment projects in Texas, Arizona, Georgia, Ontario and Alberta. This McConachie closing follows announcements of completed syndications including Walton Ottawa Region LP, Walton AZ Toltec LP/LLC, Camino Real Phase 1, Sawtooth View 1, Walton Bluff Springs Land LP, Walton AZ Silver Reef LP 3, Walton GA Arcade Meadows LP 1, Roseburgh Phase 1, Walton West Palmilla LP, Arcade Meadows Phase 1, Oakridge Phase 5, Walton USA Cottonwood LP, Walton Europe Landentwicklung Ottawa 3 GmbH & Co. KG, and Walton AZ Silver Reef LP 2.
The Walton Group of Companies (including Walton International Group Inc, Walton Development and Management Inc., Walton Asset Management Ltd. and other affiliated firms) constitute one of North America's leading land-based real estate investment groups. Over the past 30 years, Walton firms have acquired more than 54,200 acres of quality land strategically located in the development path of some of North America's leading urban growth areas. Walton companies are innovative leaders in the research, selection, acquisition, syndication, planning, development management and sale of land, having to date syndicated over USD $2.2 billion of land (CAD $2.5 billion) in Alberta, Ontario, Arizona, Texas and Georgia with over 63,600 investors and clients.
For more information about Walton, please visit http://www.waltoninternational.com
For more information about McConachie, please visit http://www.mcconachie.ca/.