November Investor Newsletter S.E.C.
Highlights
Both projects are fully optimized and now 3235 Barclay is fully rented out!
A few renovated units remain unrented at 8155 Desroches but with our consistent leasing efforts we will be fully rented out soon enough.
Project #1 :
3235 Barclay — 12 units
Phase 0
Acquisition
Completed
Acquisition
- Purchase price: $1,400,000
- Acquisition date: August 2024
- Holding period: 14 months
- Current appraised value: $3,955,000
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 expect delays of approximately 2 months 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: 13 months
- Current appraised value: $1,795,000
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
Upcoming
Refinancing
Objective: Complete a strategic refinancing based on post-optimization value by March 2026
- A new appraisal was mandated for post-renovation value
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.
A separate email has been sent outlining the onboarding steps for Agora. Should you have any questions or require assistance, please don’t hesitate to reach out to us.
Final note
More news to come when we have updates regarding the refinancing of both projects.
Have a great month of November!
- Your real estate investment team
Building Tomorrow’s Communities Today