SCOTTSDALE, Ariz. (April 28, 2021) – Walton, a real estate investment and land asset management company with US$3.39 billion under management is pleased to announce a distribution to investors on behalf of McConachie Asset Management Corporation of CAD$5,320,686 that will be made on April 30, 2021.
This distribution represents a portion of the annual interest payment due on the McConachie Asset Management Corporation’s restructured bonds, as well as a paydown of the principal amount owed. The distribution will be paid to all bondholders on a pro rata basis. The payment includes interest accrued from December 1, 2020 to February 28, 2021, for an aggregate of CAD$320,686. The total principal prepayment being made on restructured bonds is CAD$5,000,000.
This is the first distribution made in 2021 with an additional distribution expected to be paid to investors later this year. A total of CAD$59,498,693 of principal and interest payments have been made to date to investors in McConachie Asset Management Corporation.
McConachie is a residential development project in Edmonton, AB where Walton is the project manager. Based on an established plan to complete the development of the community, maximize cash proceeds and satisfy other obligations, Walton has completed key tasks in the first quarter of 2021 to continue to move toward completing the project and make its final distributions on behalf of McConachie. The projection based on the current maintenance schedule for infrastructure, such as roads and drainage pipes, will be turned over to the City of Edmonton by the fourth quarter of this year, with possible landscaping projects carrying over to 2022.