Walton announces further distribution of C $ 5.3 million to investors at McConachie Asset Management Corporation
Walton, a real estate investment and land asset management firm 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 to be made on April 30, 2021.
This distribution represents a portion of the annual interest payment due on the restructured bonds of McConachie Asset Management Corporation, as well as a repayment of principal due. 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 a total of $ 320,686 CAD. The total prepayment of principal on the restructured bonds is CAN $ 5,000,000.
This is the first distribution made in 2021 and an additional distribution is expected to be paid to investors later this year. A total of CA $ 59,498,693 in principal and interest payments has been made to the investors of McConachie Asset Management Corporation to date.
McConachie is a residential development project in Edmonton, Alberta where Walton is the project manager. Based on an established plan to complete community development, maximize cash proceeds, and meet other obligations, Walton completed key tasks in the first quarter of 2021 to continue progressing towards project completion 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 transferred to the City of Edmonton by the fourth quarter of this year, with possible landscaping projects. postponed to 2022.
Walton is a privately held, global leader in real estate investment, land asset management and administration, which has focused on strategically located land in key growth areas for over 40 years. The company manages and administers US $ 3.39 billion of real estate assets in North America on behalf of its investors and business partners. Walton has over 105,000 acres of land under ownership, management and administration in the United States and Canada. The main entities of the Walton Group of Companies include Walton Global Holdings, Walton International Group and Walton Development and Management. For more information, visit walton.com.