TORONTO, July 9, 2013 /CNW/ - David Goldstein and Jordan Rich of
GoldRich Living ("GoldRich") are pleased to announce the completion of the sale by GRC (Waverly
Estates) L.P. (the "LP") of 560 and 570 Waverly Street North, Oshawa, Ontario comprised of 53
rental townhomes (the "Property") at a sale price of $8,170,000.00. The LP acquired the Property on
April 23, 2012 for a purchase price of $6,787,500.00. The transaction
yielded an overall return on investment of 47% in less than 15 months.
"We purchased a property with 17 vacancies and added significant value
through the completion of the condominium conversion and the leasing up
of all vacancies at market rents with an overall increase in revenues
of 45% in a one year period" said Goldstein. "We continue to seek
responsible "value-add" opportunities in growth markets".
About GoldRich Living
GoldRich was founded in 2010 by David Goldstein and Jordan Rich and is
dedicated to acquiring "value add" income producing properties in
mature and growth areas through limited partnerships. GoldRich owns
and operates properties in Hamilton, Waterloo, Toronto and Oshawa.
SOURCE: GoldRich Living
For further information:
or investment inquiries:
David Goldstein (416) 850-2305