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PURCHASE & SALE AGREEMENT EXECUTED WITH TORONTO BASED HOMEBUILDER ON 2,000 ACRE LAND ASSEMBLY IN SIMCOE COUNTY, ONTARIO

2019/09/11

CAD 100 MILLION IN SALES PROCEEDS TO BE DISTRIBUTED TO INVESTORS IN Q1 2020

In August 2019, investors approved the sale of eleven pre-development land parcels located within the New Tech Gateway Employment Zone Master Plan, South Alliston Master Plan and Everett Master Plan in Simcoe County, Ontario. The purchaser is a Toronto based developer with over 30 years of experience building residential communities throughout the Greater Toronto Area. The transactions are due to close between December 2019 and January 2020 with cash distributions of over CAD 100 million expected to be released to investors in Q1 2020.

WALTON’S MONETISATION STRATEGY BEARS FRUIT

Walton administers over 10,000 acres of land in Ontario, including a number of large contiguous land assemblies in strategic submarkets. These larger assemblies are attractive to developers as they offer the potential for economically viable infrastructure solutions that smaller land parcels could not otherwise provide.

In Q3 2018, Walton began the implementation of a monetisation strategy for land assets located in Ontario, Canada. A targeted marketing campaign focused on builders and developers is now bearing fruit with a significant number of transactions imminently closing or in negotiations with potential buyers.

This latest offer demonstrates the ability of Walton’s dominant land positions to meet the generational development needs of homebuilders in the Ontario market. It also represents a significant step in Walton’s targeted strategy to generate exits despite the ongoing political uncertainty surrounding land development policies in Ontario. We believe our land positions in Ontario offer strategic advantages for potential future development and as such will continue to generate market interest. Above all, we remain focused on achieving our goals of delivering returns for our investors.

The Walton Group of Companies is one of North America’s leading real estate investment and asset management groups, focusing on the research, acquisition, planning, management and administration of raw land strategically located in growth corridors across the United States and Canada. Assets under management or administration exceed USD 3.8 Billion and comprise over 106,000 acres of land in 22 markets in North America.