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Auctus Property Fund LP Acquires Second Multi-Family Property in Winnipeg, Manitoba

Deveraux Asset Management, the asset management division of the Deveraux Group of Companies, is excited to announce that on July 15, 2019 Auctus Property Fund LP successfully completed the acquisition of a 55% ownership interest of Auctus Property Fund LP III (“Auctus III LP”), an apartment portfolio located in Winnipeg, Manitoba. This transaction marks Auctus LP’s second multi-family property acquisition in Winnipeg, Manitoba.


With the addition of Auctus III LP, Auctus LP has gained the fully operational Pinnacle at Bridgwater, a 176-unit premium apartment community in the Bridgwater Trails neighbourhood of Winnipeg. The site is surrounded by lakes, mature forests, scenic paths and within walking distance to Bridgwater Centre which is home to a variety of amenities such as a grocery store, coffee shops, a doctor’s office, a veterinary clinic and more.


The Pinnacle at Bridgwater consists of a one 48-unit and two 64-unit wood-framed four-storey buildings. Apartment options include one and two bedroom plus den suites ranging from 722 to 1,018 square feet. The two-bedroom plus den suites feature two bathrooms, one of which is an ensuite and is accessed by a walk-through closet in the master bedroom. All suites are complete with high-end finishes such as granite countertops, vinyl plank flooring, stainless steel appliances, air conditioning and private balconies. In addition, the property includes a resident clubhouse and office which features on-site customer service, a study room, games lounge, fitness centre, dog run and barbeque area.


Denis Jones, President and CEO of the Deveraux Group of Companies stated, “We are proud to facilitate Auctus LP’s second property transaction in Winnipeg, Manitoba, with the first being the acquisition of The Summit at Seasons in June 2019. With a focus on adding accretive assets to our Auctus portfolio, we continue to deliver both stability and value to investors.”


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