Walton Successfully Closes on 170 Acres in Simcoe County, Ont.
Press Release, 2020/05/07
Walton, a real estate investment and land asset company with US$3.8 billion under management and administration across North America, has sold 170 acres of land in Simcoe County, Ontario, near the communities of Alliston and Tottenham. After the sale of this land, Walton continues to be a significant landowner in Simcoe County with approximately 3,200 acres still under management.
The first sale was made to a privately-owned real estate development company for 120 acres of undeveloped land adjacent to the Briar Hill housing development in Alliston. The purchaser plans to develop the property in the future for single-family homes.
The second sale was for approximately 49 acres just outside Tottenham. This property is near the protected Ontario Greenbelt and the Tottenham Conservation Area featuring a large parkland with picturesque pond, sandy beach, pavilion, playgrounds and golf course.
“Simcoe County is rapidly developing due to its proximity to Toronto,” confirmed Rob McDonough of Re/Max Hallmark McDonough Group Realty. “Travel time to downtown Toronto is less than an hour on Highway 400 and the recent expansion of the Toronto Subway has increased the commuter radius. Employment in the Simcoe area is strong with the recent addition of a neighboring Amazon super warehouse. These factors continue to confirm Simcoe County as a desirable land acquisition opportunity.”
“We are excited about this property sale in robust Simcoe County, an area which is expected to continue to experience significant population and employment growth over the next 20 years,” said Rob Nixon, Walton’s Canadian Asset Manager. He added, “With Honda, the single largest employer in Alliston, and the Tottenham Conservation Area nearby, this area known as the ‘Greater Golden Horseshoe’ will attract buyers looking for a greater sense of community.”
Walton’s 104,000-acre portfolio located in the United States and Canada, provides a scalable land acquisition platform to support homebuilders with just-in-time inventory management. Walton’s approach is an innovative response to secular shifts in the land development industry, which is increasingly challenged to finance acquisition with debt.
For more than 40 years, Walton has researched, planned, and structured pre-development land investments located in the major growth corridors throughout the United States and Canada. The evolution of Walton has opened the door to creating additional opportunities for investors and homebuilders alike.