Walton Global, a real estate investment and land asset management company with US$3.6 billion under management, announced distributions made to investors will total more than $137 million in the second quarter 2022 as a result of strong land sales in various assets across North America. A total of $130 million has already been distributed to investors with more than $7 million expected to be made at the end of June 2022.
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“We have been managing our land sales pipeline diligently across all of our assets in both the U.S. and Canada,” said Kate Kaminski chief operating officer at Walton Global. “This is the first large wave of investor distributions in 2022, but we have many other significant projects that are expected to close throughout the year.”
Walton has investors that span across 73 countries around the globe. The US $137 Million distribution is an aggregate amount made up of U.S. and Canadian assets within Walton’s investment structures.
U.S. based investors received distributions of more than US $89 Million. These distributions primarily resulted from the sale of two large properties in Texas, Kimberlin Heights at 1,215 acres and Elm Creek at 1,061 acres, and the sale of 331 acres for a property called Piney Lake located in Colorado.
Canadian investors received distributions of nearly CAD $43 Million (approximately US $35 Million). This included distributions to investors in Roll-Up Corporation of CAD $35 Million and WIGI Restructured Bond Corporation of over CAD $7 Million.
Walton investors in Asia received distributions of more than US $12 Million from exits across several properties that were sold as a bulk sale or partial sale under a phased takedown structure tied to an option agreement. More than US $10 million of the total Asia investor distributions are from land parcels across Ontario and the remainder in the U.S. in states like Florida, Georgia and Texas.
Kaminski added “Nothing is more gratifying to Walton than to make distributions to our investors and we are focused on making that happen. Some land assets take longer than others due to various circumstances, but we are working on creating robust exit activity this year and we are looking forward to sharing more with our investors in the months ahead.”
Walton Global sells land in Eloy
Walton Global has sold 92 acres of land in the city of Eloy, Arizona. The property is an industrial zoned project within a partially developed master plan called Sunshine Industrial.
“The City of Eloy has experienced rapid growth over the last few years as businesses flock to affordably priced locations to invest in and expand their businesses,” said Rob Nixon, senior vice president of Arizona and Canada at Walton Global. “Businesses that take advantage of this prime real estate will benefit from being at the intersection of the state’s transportation infrastructure while bringing more jobs and an economic boost to the area.”
Sunshine Industrial is located in the center of the Phoenix-Tucson corridor just south of the cities of Maricopa, Casa Grande and Coolidge at the junction between interstates 10 and 8, which respectively head west to Los Angeles and San Diego, California. The 92 acres is within 277 acres with a single 12-acre commercial pad. The property also holds federal approval as a Foreign-Trade Zone (FTZ) site.
The current partial development of the site includes water and sewer infrastructure and agreements to potentially tie into the Union Pacific Railroad. The multiple access points to key roadways make it an appropriate site to distribute freight to major markets by truck and train, and existing road creates the potential for hard corner commercial uses along Sunshine Boulevard.
“The main line of the Union Pacific Railroad connects the property to major ports and transfer points in Los Angeles and El Paso, Texas,” added Nixon. “It links 23 states, connects with Canada’s rail systems and is the only railroad serving six major destinations in Mexico.”
The sale of the land in Eloy continues to show Walton Global’s strength in identifying key markets within both commercial and residential sectors.
