Delavaco Residential Properties Corp. Completes Acquisition of Residential Units in New Jersey

Delavaco Residential Properties Corp. ("Delavaco") (TSX VENTURE: DVO.U) (OTCQX:
DELAF) and York Plains Investment Corp. announce that that they have completed
their previously announced transaction, pursuant to which Delavaco has acquired
all of the issued and outstanding shares of H60 Canada Inc., for an aggregate
purchase price of US$6,240,000 (the "Transaction"). H60 Canada Inc. indirectly
owns 19 residential properties (the "Properties") located in New Jersey,
consisting of a total of 96 separate rental units (the "Units").


The aggregate purchase price was paid as follows: US$3,120,000 by the issuance
of 3,120,000 common shares of Delavaco ("Delavaco Shares") based on the share
price of US$1.00 per Delavaco Share, representing a premium of approximately
13.6% from US$0.88, the closing price of the Delavaco common shares on the day
before this announcement, and two promissory notes (the "Notes") in favour of
the vendors in the principal aggregate amount of US$3,120,000, secured by a
first ranking lien over the Properties. The aggregate amount owed pursuant to
the Notes is subject to a working capital adjustment, and the Notes will not
bear interest until the date on which the occupancy rate of the Units exceeds
90%, at which point they will bear interest of 5.5% per annum, with a maturity
date of November 1, 2014. As of closing, the 90% threshold has been met and
therefore interest commences to accrue immediately.


Andrew DeFrancesco, Chairman and Chief Executive Officer of Delavaco, comments:
"Delavaco is excited to be entering the New Jersey market. This initial purchase
is an outstanding platform for us to grow in another geographic location that
complements our existing model. We look forward to expanding our purchases in
the area as they provide immediate accretion from an asset and cash flow basis."


About Delavaco 

Delavaco Residential Properties Corp. was formed on January 27, 2011 to take
advantage of the U.S. housing crisis with the goal of significant capital
appreciation through the recovery of the housing sector. Now a public company,
Delavaco has its shares listed for trading on the TSX Venture Exchange and the
OTCQX marketplace in the U.S. Delavaco is focused on the ownership and
management of single and multi-family residential properties located principally
in the south-eastern United States. Delavaco's real estate portfolio consists of
525 single-family homes in Florida, 298 single-family homes in Georgia, 311
multi-family units in Florida and Texas and 96 multi-family units in New Jersey.
Delavaco also manages a 316 multi-family unit portfolio in Hollywood, Florida.
Delavaco's acquisition strategy involves the identification and purchase of
under-valued residential properties located in highly populated and dynamic
urban centers within the lower to middle income demographic sector with tenants
who qualify for government funding under the United States rental voucher
assisted program. Delavaco's security holders include some of the leading
Canadian institutional investors and real estate holding companies. 


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Certain information in
this news release constitutes forward-looking statements under applicable
securities law. Any statements that are contained in this news release that are
not statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "intend" and similar expressions.
Forward-looking statements in this news release include, but are not limited to,
statements with respect to Delavaco's intended acquisition focus.
Forward-looking statements necessarily involve known and unknown risks,
including, without limitation, risks associated with general economic
conditions; adverse industry events; marketing costs; loss of markets;
volatility of real estate prices; inability to access sufficient capital from
internal and external sources, and/or inability to access sufficient capital on
favourable terms; industry and government regulation; changes in legislation,
income tax and regulatory matters; the ability of Delavaco to implement its
business strategies; competition; currency and interest rate fluctuations and
other risks. 


Readers are cautioned that the foregoing list is not exhaustive. Readers are
further cautioned not to place undue reliance on forward-looking statements as
there can be no assurance that the plans, intentions or expectations upon which
they are placed will occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect and actual
results may differ materially from those anticipated. Forward-looking statements
contained in this news release are expressly qualified by this cautionary
statement. 


Neither the Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. 


Additional information about Delavaco Residential Properties Corp. is available
at www.delavacoproperties.com or www.sedar.com. 



FOR FURTHER INFORMATION PLEASE CONTACT: 

For further information please contact:

Lisa-Marie Iannitelli
Director of Investor Relations & Business Development 
Delavaco Residential Properties Corp. 
The Exchange Tower 
130 King Street West, Suite 2210 
Toronto, ON M5X 1A9 
Phone: (416) 362-4441
lisa-marie@delavaco.com
Delavaco Residential Properties (TSXV:DVO.U)
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