OAKVILLE, ON, July 7, 2021 /CNW/ - Two Sevens Capital Group of Companies ("Two Sevens Capital") announced today that it has acquired a 22 Unit Multi-Family Low Rise Residential building in Kingston, ON. ("The Property") for its Ontario-focused mid-cap portfolio.
"This is an outstanding acquisition for our firm as it presents another value-add opportunity that boasts sound core-plus characteristics. Kingston is an excellent market to invest in with its strong and diversified economy. We are excited to work with our local partners on this project and to join the Kingston real estate community." Said Jon Olynick ~ Managing Partner & Head of Real Estate
The Property is well situated in a family friendly neighbourhood on a quiet street with access to local amenities. The 3.5 low rise, concrete constructed building offers a mix of one-bedroom (7), two-bedroom (14) and three-bedroom (1) units. 509 MacDonnell Street is the ideal building for a wide range of tenants with its proximity to Kingston General Hospital and Queens University close by. The property is walking distance to Kingston Memorial Centre and is surrounded by several independent small businesses such as a microbrewery, and cross-fit gym. Downtown Kingston is located only 2 kilometers away where shopping and local restaurants are easily enjoyed. Tenants also have easy access to local transit and Hwy 401.
"This is our first asset in the City of Kingston, and the second asset acquired for our new mid-cap multi-residential fund that was launched earlier this spring (77C Cornerstone Real Estate LP). We look forward to providing great places for the people of Kingston to live for the long-term and continuing to invest in such a great city." Said Adam J. Batstone ~ Founder & CEO
About Two Sevens Capital
Founded in 2018 by industry veteran Adam J. Batstone, Two Sevens Capital is a private investment boutique that has a principal goal of providing every-day access to institutional-quality assets. The firm identifies with entrepreneurial, high net worth individuals as investment partners, and with a core competency in private equity real estate has developed a very focused and active deal pipeline that will help fuel its growth into one of the province's most sought-after alternative investment managers. Please visit us at www.twosevenscapital.com