Erin Ridge North Land Acquisition
EPC Capital Ltd., a premier real estate and private equity investment firm, announced today that it has acquired 5.34 acres of commercial development land in Erin Ridge North, an area designated for high-medium density commercial and residential development in affluent St. Albert.
EPC Capital plans to develop a 65,000 SF retail and professional complex comprised of 9 buildings, including two drive-thrus. The plaza is positioned to be a destination for the growing communities of northern St. Albert and the surrounding Sturgeon Country. It is situated on the corner of St. Albert Trail and Neil Ross Road, and traffic is drawn to the area by neighboring Costco, Home Depot, Walmart, and a variety of national franchises populating the vicinity.
The development, EPC Erin Ridge Plaza, is expected to break ground in early spring 2019 to be completed by summer 2020. The plaza will be condominimized, allowing business owners and investors the unique opportunity to own their own commercial space.
EPC Erin Ridge Plaza is funded through a limited partnership, which allowed EPC Capital to offer investment units to certain qualified investors. This acquisition increases visibility and enhances EPC Capital’s position in the commercial investment market. The plaza is estimated to be valued at 30 million at time of completion, increasing the portfolio to over $150 million in owned and/or managed assets.
Commenting on the acquisition Sam Narayan, EPC Capital Senior Partner said: “EPC Capital’s knowledge of the Edmonton and area market place allows us to identify and perform on our acquired assets so as to deliver results to our investors. We are currently working on multiple high profile retail/commercial opportunities in the Edmonton area which will be rolled out in the next 12-24 months.”
EPC Capital Senior Partner Ayaz Bhanji further commented: “There is tremendous opportunity for business in Edmonton and surrounding areas, and this is a truly unique opportunity to buy your space in a saturated leasing market. In our experience, Edmonton provides superior returns in real estate compared to many other major Canadian markets.”
For further information please contact Tori Bardel at 780 341 2016