May 23, 2017 9:50 AM ET

Real Estate Management and Development

Company Overview of Walton Big Lake Development L.P.

Company Overview

Walton Big Lake Development L.P. engages in the real estate development activities in Canada. It focuses on development of the Hawks Ridge at Big Lake property comprising an area of 136.5 acres undeveloped land located in Edmonton, Alberta. Walton Big Lake Development Corporation operates as the general partner of the company. The company was founded in 2010 and is based in Calgary, Canada.

215 – 2nd Street SW

25th Floor

Calgary, AB T2P 1M4

Canada

Founded in 2010

Key Executives for Walton Big Lake Development L.P.

Chief Executive Officer of Walton Big Lake Development Corporation, President of Walton Big Lake Development Corporation and Non Independent Director of Walton Big Lake Development Corporation
Age: 47
Compensation as of Fiscal Year 2016.

Walton Big Lake Development L.P. Key Developments

Walton Big Lake Development L.P. Reports Revenue Results for the Fourth Quarter and Year Ended December 31, 2016

Walton Big Lake Development L.P. reported revenue results for the fourth quarter and year ended December 31, 2016. For the quarter, the company recognized revenue on contracts of $2,669,429. For the years ended December 31, 2016 and December 31, 2015, the company recognized revenue on contracts of $22,537,530 and $5,777,150, respectively, from lot sales.

Walton Big Lake Development L.P. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2016

Walton Big Lake Development L.P. reported earnings results for the fourth quarter and year ended December 31, 2016. For the quarter the company recognized revenue on contracts of $2,669,429, net of a finance discount of 152,264, from 14 lot sales during the fourth quarter of 2016. The company's net other expenses decreased by $94,723 from $529,173 for the three months period ended December 31, 2015 to $434,450 for the three month period ended December 31, 2016. For the year the company recognized revenue on contracts of $22,537,530 and $5,777,150, respectively, from lot sales. In 2016, certain of the sales agreements had final payment terms that extended over 365 days and therefore the revenue was discounted by $152,264 to $22,385,266. The discounted amount will be amortized and recognized as finance income over the term of the receivable. Total other expenses increased by $40,145 from $1,791,216 for the year ended December 31, 2015 to $1,831,361 for the year ended December 31, 2016. The increase in other expenses is mainly due to increases in management fees of $192,996, director fees of $31,400, and interest expense of $89,326, offset by a reduction in servicing fees of $104,674, and marketing fees of $190,380.

Walton Big Lake Development L.P. Reports Revenue Results for the Third Quarter and Nine Months Ended September 30, 2016

Walton Big Lake Development L.P. reported revenue results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of $568,071. For the nine months, the company reported revenue of $19,868,101. The revenue and cost of sales recognized in the three and nine months ended September 30, 2015 was in respect of the sale of the 2 mixed-use sites and the 1 multi-family site.

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