December Investor Newsletter S.E.C.
Highlights
Both projects are fully optimized and we have commenced the refinancing phases of both projects.
Desroches proves to be more of a challenging market at the moment, 3 units remain vacant but we are confident that new incentives will help.
Barclay has not experienced the same difficulties as it is fully leased out.
Project #1 :
3235 Barclay — 12 units
Phase 0
Acquisition
Completed
Acquisition
- Purchase price: $1,400,000
- Acquisition date: August 2024
- Holding period: 15 months
- Current appraised value: $3,885,000
Phase 1
Optimization
Completed
Optimization
Objective: Complete renovations and re-rent all units by August 2025
- All renovations have been completed
- 12/12 units rented out
Phase 2
Refinancing
In Progress
Refinancing
Objective: Complete a strategic refinancing based on post-optimization value by February 2026
- We are currently in the process of refinancing
- We have submitted our file to the CMHC and are waiting for approval
Phase 3
Stabilization
Upcoming
Stabilization
- The property will be re-appraised during refinancing in line with stabilized rents and optimized condition
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Project #2 :
8155 AA Desroches — 8 units
Phase 0
Acquisition
Completed
Acquisition
- Purchase price: $1,150,000
- Acquisition date: September 2024
- Holding period: 14 months
- Current appraised value: $2,570,000
Phase 1
Optimization
Completed
Optimization
Objective: Complete renovations and re-rent all units by September 2025
- All renovations have been completed
- 5/8 units currently rented out
- 3 renovated units to rent out
Phase 2
Refinancing
In Progress
Refinancing
Objective: Complete a strategic refinancing based on post-optimization value by March 2026
- The recent post-reno appraisal of Desroches valued the property at $2,570,000! This more than doubles the initial purchase price of the property!
- Once we rent out the vacant units we will be ready to submit a strong application to CMHC to refinance the project
Phase 3
Stabilization
Upcoming
Stabilization
- The property will be re-appraised during refinancing in line with stabilized rents and optimized condition
Agora
We’re pleased to announce that our investor portal on Agora is now live. This platform will serve as the central hub for all financial reports, key documents, capital call notices, and investor receipts. You can now view your investments and access all related materials in one convenient place.
If you are having any difficulties with the platform please reach out and we can help you navigate the platform.
Final note
We will keep you updated with the advancements of our refinancing efforts in the next newsletter.
Enjoy a great month of December with friends and family!
- Your real estate investment team
Building Tomorrow’s Communities Today