Walton Group Returns CAD 2 Million to Golden Greater Horseshoe Phase 2 Investors
Investors in Golden Greater Horseshoe Phase 2 (“GGH2”), a parcel of pre-development land slated for residential development located in Simcoe County, Ontario, received a CAD 2M distribution of principal repayment in January 2020.
Walton investors sold the GGH2 project to an award-winning real-estate developer and builder in the Greater Toronto Area (“GTA”) in 2017. Although the majority of the property was not within the urban boundary at the time of the transaction, it was in close proximity to the urban boundary and the homebuilder saw this acquisition as part of their long-term land and building strategy in the GTA market.
The homebuilder acquired the property with a 20% down payment and the balance was financed by a 7 year loan from the original Walton landowners to the buyer with interest payable annually. This type of vendor financing is common in the housing market as it provides financial flexibility to homebuilders while they continue to pursue planning approvals or undertake development of a property in multiple phases.
This latest distribution, together with the initial down payment received in 2017 and two subsequent distributions of interest made in 2018 and 2019, represent an aggregate investment return of more than CAD 4M to GGH2 investors to date.
The Walton Group of Companies is a privately owned, global, real estate investment, land asset management and administration company that has focused on strategically located land in major growth corridors for over 40 years. The company manages and administers US$3.8 billion of real estate assets in North America, on behalf of its investors and business partners. Walton has more than 106,000 acres of land under ownership, management and administration in the United States and Canada. Key entities in the Walton Group of Companies include Walton Global Investments, Walton Global Holdings, Walton International Group and Walton Development and Management. For more information visit Walton.com.