Walton Announces Another CAD$5.3 Million Distribution to Investors in McConachie Asset Management Corporation
SCOTTSDALE, ARIZ.--(Business Wire / Korea Newswire) April 29, 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.
Walton is a privately owned, leading global real estate investment, land asset management and administration company focusing on strategically located land in major growth corridors for more than 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 more than 105,000 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 Holdings, Walton International Group and Walton Development and Management. For more information visit walton.com.
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