Walton Announces a Second $9.183 Million Distribution to Investors in 2020 of McConachie Asset Management Corporation
Press Release, 2020/12/08
Walton, a real estate investment and land asset management company with US$3.39 billion under management and administration, is excited to announce on behalf of McConachie Asset Management Corporation a second distribution to investors in 2020 of $9,183,669 to be paid in December.
The distribution will be made to all bondholders of the Corporation on a pro rata basis. This payment represents both principal repayment and interest payment. McConachie is a Walton Global Investments, Ltd. residential development project in Edmonton, AB where Walton serves as the project manager.
Walton completed all major construction activities for the residential development last year and all remaining residential lots are under contract. The current maintenance schedule should allow all infrastructure, such as roads and drainage pipes, to be turned over to the City of Edmonton by fourth quarter 2021. Walton continues to closely monitor the impacts of the pandemic situation and any impacts it may have on the development.
Walton also made a distribution of $5,515,035 for the McConachie Asset Management Corporation bonds outstanding, on April 30, 2020. The payment represented both principal and repayment and accrued interest on the bonds.
To date, McConachie has made principal and interest payments totaling $54,178,007.
“Walton’s asset management model presents a great opportunity for builders and investors and we remain optimistic about the McConachie Walton-managed entity having demonstrated great activity this year and are thrilled to be able to deliver this sizable distribution to investors,” said Bill Doherty, CEO, Walton Group of Companies.
For over 40 years, Walton has researched, planned and structured pre-development land investments located in the major growth corridors throughout the U.S. and Canada. The evolution of Walton has opened the door to offering new products, creating opportunities for investors and homebuilders.