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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 28, 2019 149   0   0   0   0   0
Property developer Cadillac Fairview (CF) and asset manager TD Greystone Asset Management (TD Greystone) have announced plans to revitalize major Toronto shopping centre CF Fairview Mall. According to CF, an estimated $80 million will be dedicated to revamping 230,000 square feet of existing department store and other retail space to introduce more brands to the property;create a new row of restaurants;and improve pedestrian access to the nearby Don Mills subway station. Construction is expected to begin this month with completion of the revitalization project is slated for 2023. Read more:Toronto remains a strong real estate investment magnet[1] CF and TD Greystone are also in discussions with city officials about rezoning the CF Fairview Mall site to accommodate additional, mixed-use density to meet the needs of the growing community.Future development plans may include residential, hotel, and office space along the periphery of the property. "This area is undergoing many changes which reflect peoples' desire to work, live, shop and dine in a dynamic, transit-connected mixed-use community," said Wayne Barwise, executive vice president of development at Cadillac Fairview."Our redevelopment plan is about diversifying CF Fairview Mall and the surrounding land so we can continue to offer a vibrant destination for people to come together and enjoy." "We are excited to be
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 26, 2019 111   0   0   0   0   0
Ascertaining exact valuations for commercial real estate holdings is as daunting as it is convoluted, but an American platform is simplifying the process. VAL, a cloud-based software that integrates internal and external applications, is a game-changing model for the commercial sector of the real estate industry.In essence, VAL predicts valuations through the duration of the asset hold, be it a decade or 15 years, by drawing upon myriad sources of data, and in the process it’s become one of the most efficient cash flow modeling tools on the market. “In its bare bones, it tells you the value of your asset today based on the way it will perform over however long your time horizon is,” said Stu Sleppin, managing director of Rockport VAL.“It will allow owners to make better informed decisions.Just as someone underwrites a loan to buy a house, they will look at your financials and make a decision;VAL does the same thing with a commercial real estate asset.” In fact, even banks use VAL to determine a commercial property’s long-term trajectory. Sourcing building, tenant and construction data compiled over years, VAL is, simply put, disrupting the commercial real estate industry like few things before it.VAL’s calculation engine is its key, says Rockport VAL’s Timothy Benz, director of sales. “It
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 26, 2019 121   0   0   0   0   0
Bridgemarq Real Estate Services has announced that it filed its annual information form, management information circular, and related annual meeting materials on SEDAR. In the filings, Bridgemarq set its annual meeting for May 7, 2019 in Toronto.The term of Simon Dean as director at Bridgemarq will also expire on that day, and he has announced that he will not be seeking re-election to the board. Brookfield’s board extended thanks Dean for his contributions and wished him well his future endeavours. Read more:The new investment vehicles that’s driving up returns[1] To replace Dean, Bridgemarq’s board has proposed Colum Bastable as a director-nominee to be considered for election at the annual meeting.Bastable has over 40 years of experience in the real estate services industry, including his recent role as chairman of Cushman and Wakefield Canada, a leading provider of commercial property brokerage services.Further details about Bastable can be found in the management information circular, which is available for download on SEDAR. Bridgemarq is a leading provider of services to residential real estate brokers and has a network of over 18,000 realtors.The company operates in Canada under the Royal LePage, Via Capitale, and Johnston &Daniel brands. Are you looking to invest in property?If you like, we can get one of our mortgage experts to tell
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 26, 2019 122   0   0   0   0   0
Constellation HomeBuilder Systems, a provider of home building software and services, announced the acquisition of online listing service NewHomeListingService.com. With the common goal of connecting buyers, builders and real estate agents, the NewHomeListingService.com team will be joining Constellation HomeBuilder Systems to further expand the most comprehensive homebuilding and land development platform in the industry. Read more:Technology disrupts commercial real estate[1] NewHomeListingService.com will be integrated with the NEWSTAR, FAST, and BuildTopia enterprise resource planning platforms of Constellation HomeBuilder Systems.The integration will allow data to sync in real-time so that prospective buyers have access to the accurate and updated information. "This acquisition provides a growth opportunity for both businesses and supports our strategy to help builders manage their business more successfully,” said Chris Graham, vice president of Constallation HomeBuilder Systems.“Promoting new homes and condos is easier than ever before.As builders look for more effective ways to connect with homebuyers, we will be well-positioned to support them on that journey." "Constellation HomeBuilder Systems offers a tremendous opportunity for NewHomeListingService.com to further expand its service offering in Canada and the United States," said Milo Anderson, founder of NewHomeListingService.com."Joining Constellation creates the perfect synergy allowing builders to get the most exposure for their new homes and condos in the most convenient way." Are you looking to invest in property?If
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 24, 2019 152   0   0   0   0   0
Air-tight compliance is the key ingredient to syndicating mortgages and a nascent Toronto firm is paving the way forward that sector of the real estate industry. “We’re a community of investors and partners who only underwrite deals we feel are good for our investor base, and how we do that is to make sure we only get compensated when the investor can generate a principal return from their investments,” said Luan Ha, founder and CEO of Fundscraper. Fundscraper arranges bridge financing for large developments on first, second, or combination, mortgages between one and three years, and it’s setting a new standard by using technology to both reduce costs and protect investors.Using a complex technological algorithm to assess potential investors’ suitability for syndicated mortgages, Fundscraper is also in the business of advising various mortgage investment entities. The key, says Ha, is through harnessing technology. “We use technology to enhance our ability to drive data out of our suitability assessments and, therefore, produce more holistic and accurate suitability assessments,” he said.“We use our data models to figure out whether a project fits within the time horizon or risk tolerance or investment concentration threshold of this one particular investor.We make it a point that our KYC [Know Your Customer] are done through what we call our
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 24, 2019 158   0   0   0   0   0
A 10-year agreement cemented between the governments of Canada and Alberta will give rise to more affordable housing units in the province over the next decade. The deal involves the investment of $678 million in the renewal and expansion of Alberta’s low-cost housing, with both governments contributing $339 million each for the long-term funding. The agreement – which will greatly support Alberta’s initiatives concerning housing repair, construction, and affordability – comes in addition to the more than $638 million in existing 10-year federal housing investments in Alberta, coursed through the Social Housing Agreement. The Liberal administration has invested almost $510 million in Alberta’s housing since November 2015.The oil industry crashes of recent years have hit the province’s home buyers and consumers particularly hard. Read more:Oil sector recovery propelling Western Canada’s rental homes[1] “The new agreement marks the beginning of a partnership that will be supported by long-term and predictable funding starting April 1, 2019,” the governments stated in the announcement. “Alberta’s first Affordable Housing Strategy was launched in 2017 with the goal of building and renewing 4,100 units, and that goal is about to be achieved and exceeded.This new agreement means Alberta can continue our bold approach to address the housing needs of Albertans,” Alberta Minister of Seniors and
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 24, 2019 166   0   0   0   0   0
Major high-rise office projects accommodating more tech tenants and greater commercial investment volume are scheduled to commence soon in Toronto and Vancouver. Leading developers Allied Properties REIT and Westbank have announced that the construction of the office towers – which are predicted to “reshape” these markets’ downtown areas – will pave the way for greater tech industry presence in Canada’s largest markets. Tech companies have been cited by observers like Marcus &Millichap as a major pillar of stability form the office property sector. In Toronto, the 264-metre, 1.7-million-square-foot Union Centre building will be built near Union Station. “[Union Centre] is a sign of what Toronto is becoming,” Westbank chief executive Ian Gillespie told The Globe and Mail.“The city isn’t just about finance any more.It’s about everything:tech, culture and a variety of other pursuits.” Read more:Commercial property market heavily leans upon tech companies[1] In Vancouver, Allied Properties REIT and Westbank will be erecting a 500,000 sq.ft.tower beside BC Place.This project is expected to become one of the city’s largest office buildings so far. Tech’s influence in Canadian commercial real estate has been predicted to grow even stronger in the near future, with major players like Microsoft, Google, and Amazon likely spending billions in office expansions and hire tens
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 21, 2019 129   0   0   0   0   0
Montreal’s luxury housing market is expected to be the strongest of the spring season. According to a new report from Sotheby’s International Realty Canada[1], the city’s hot real estate market shows nary a sign of regressing.On the heels of a 20% year-over-year increase in sales over $1 million in 2018, Sotheby’s expects a sales record this spring. “With strong economic and political fundamentals driving local confidence and demand, top-tier sales escalated in the first two months of 2019,” read the luxury housing report.“Overall, $1m-plus residential real estate sales (condominiums, attached and single-family homes) were up 6% year-over-year to 111 units sold in January and February.Two luxury properties sold over $4m during this time, up from zero the same months in 2018.” Of particular significance, luxury condos in Montreal surged 53% year-over-year through January and February 2019.During January alone, transactions in Montreal totalled $1.63 billion, which is an 18% lift over the same month in 2018. “We expect the Montreal market to continue with its very healthy year-over-year increase in activity,” Sotheby’s[2] President and CEO Brad Henderson told CREW.“It will add somewhat to the upper pressure to price, particularly in the central region.We don’t see risk to that forecast, with the possible notable exception of a foreign buyer tax,
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 21, 2019 113   0   0   0   0   0
Montreal mayor Valérie Plante said that the city government will consider imposing a tax on foreign home buyers if the measure will help guarantee long-term affordability. Such a levy has already been implemented in Toronto and Vancouver, to considerable effect. “Here in Montreal, this is not where I’m going for now, though we are really checking on the market on regular basis,” Plante told BNN Bloomberg. “If needed, we might go there, but right now we’re using different tools that we have to make sure we have this balance of creating social and affordable housing.But for that, I need both provincial and federal help.” For some time now, Montreal has outpaced Toronto and Vancouver in terms of home price growth, according to the latest edition of the Teranet–National Bank of Canada House Price Index. Read more:Chinese buyers now prefer Quebec, Alberta, and Nova Scotia[1] In February, Montreal prices increased by 0.36% from the previous month and 5.15% year-over-year, to reach a historic high for the month.In comparison, Toronto prices fell by 0.22% from January to February, and grew by 3.56% year-over-year.Vancouver’s declined by 0.68% monthly, and shrunk by 1.11% annually. Overall prices across Canada decreased by 0.4% month-over-month in February, and were only 1.87% larger than
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 21, 2019 142   0   0   0   0   0
An influx of migrants is boosting Prince Edward Island’s home construction activity, making the province emblematic of Atlantic Canada’s residential real estate strength this year. The latest analysis by the Conference Board of Canada stated that the region will enjoy strong economic performance in 2019, and P.E.I.is set to be the leader with its 3.2% growth – indeed, surpassing the rest of the country. “Over the next two years, the Island should outpace nearly every other province in the country when it comes to its rate of population growth.Consequently, the construction industry is set to surge this year, thanks to new housing developments on the Island,” the Board stated, as quoted by The Canadian Press. “Add to that the impressive tourism prospects and the elevated demand for P.E.I.products boosting exports and manufacturing, and economic growth in the province should continue to outpace the Canadian average -- a feat that P.E.I.has achieved every year since 2015.” Read more:New Brunswick property tax stifling investment in apartments[1] As a whole, Atlantic Canada’s home-buyer purchasing power will benefit from the region’s robust economic growth this year, largely propelled by service-sector stability, rising exports, and growing oil production. The Board pointed at rising oil production as a major contributing factor to Newfoundland and Labrador,
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 19, 2019 139   0   0   0   0   0
In today’s real estate milieu, where cash flowing properties are becoming more sporadic by the day, the rent-to-own model is emerging as a superior strategy with a favourable buy-in. Helping tenants take eventual ownership of a property by giving them a stake in their own success, rent-to-own investors only have to put 15% for a down payment, enlisting their tenant to put up the remaining 5%. “This is where a lot of the profitability of rent-to-owns is coming from,” said Rachel Oliver, managing partner of Clover Properties.“Eighty percent comes from the bank, 5% from the tenant-buyer and you’re only in for 15% at a time when you can’t buy a residential property for less than 20%, but we found a way to do it. “The sweet spot for a lot of rent-to-own properties would be an initial investment of $70,000 to 90,000.” Rent-to-owns are ideal for supplementing income right away.Rather than banking on long-term appreciation the way most downtown Toronto condominium investors do, RTOs can yield anywhere from $600 to $900 a month in cash flow, after expenses. But the beauty of rent-to-own investment properties is that you can leverage your personal residence or existing rentals to start building a rent-to-own portfolio that actually pays for your lifestyle.For example, a simple
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 19, 2019 142   0   0   0   0   0
This year, national home sales activity will likely fall to its lowest point since 2010, according to the Canadian Real Estate Association’s updated outlook. The prediction followed the considerably weaker nationwide sales in February, with a 4.4% annual decline and a sharper 9.1% drop from January, The Canadian Press reported. Aggregate nationwide sales in 2019 will shrink by 1.6% to 450,400 transactions, CREA cautioned.Meanwhile, 2020 transactions will see a 2% gain to reach 459,400 sales. The average sales price across Canada last month was $468,350, falling by 5.2% annually.Excluding the elevated-cost environments of Toronto and Vancouver, the average price stood at a little under $371,000. Read more:Significant headwinds to impede 2019 housing starts[1] Data from the Canada Mortgage and Housing Corporation also showed that these developments have accompanied a slowdown in new home construction nationwide. The seasonally adjusted annual rate of housing starts declined to 173,153 units in February, markedly lower than the 206,809 units in January and failing earlier predictions of 205,000 units. CMHC cited mortgage rate hikes and economic sluggishness as major factors in the lower starts volume. “Although housing starts seemed to be unscathed by the new B-20 regulations that took effect in January 2018, higher borrowing costs and tougher mortgage qualifying conditions
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 17, 2019 152   0   0   0   0   0
While smart cities may be imminent, how they’re developed is still a question mark. Fortunately, Vancouver and Surrey will soon have answers. Both cities are exploring how to develop their respective corridors with tomorrow’s technologies by using superlative international projects as inspiration.The cities’ shared goal of improving residents’ lives will be realized through a competition involving companies from all over the world, with the winner receiving $50 million to fulfill their visions. Jesse Adcock, the City of Vancouver’s chief technology officer, says the chosen projects will have to improve citizens’ safety and mobility, while reducing greenhouse gas emissions and collisions. “We provided the physical characteristics in each city’s corridor and asked the industry how their technology projects will solve particular problems,” she said.“We had over 172 proposals come in from all over the world that represent hundreds of projects, and we managed to shortlist them down to 55 vendors and 81 projects.” Residents, businesses and other stakeholders have also been encouraged to provide as much input[1] as possible around six themes put forth by Infrastructure Canada, and while it’s still too early to describe what smart cities in Vancouver and Surrey will look like, they will incorporate intelligent traffic and data collection systems, censors, autonomous shuttles and last mile vehicles. “By having a strong
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 17, 2019 144   0   0   0   0   0
Montreal’s home price growth is considerably outstripping the national average as well as the pace set by the leading markets, according to the Teranet–National Bank of Canada House Price Index covering February 2019. The city’s real estate prices increased by 5.15% year-over-year in February, reaching a historic high.To compare, the Teranet HPI found that overall prices nationwide saw only a 1.87% annual increase, which was noted to be the third smallest non-recession increase behind July and August of last year. “The market peak was reached in September 2018, and prices are down 1.43% from there,” Better Dwelling stated in its analysis of the Index. In addition, Toronto saw a 3.56% annual increase, while Vancouver suffered a 1.11% shrinkage during the same period. Read more:Montreal’s affordability drives much of its sales growth[1] The Montreal real estate segment is also benefiting from a strong economy and a vibrant job market, the combination of which is boosting purchasing power of the city’s working-age Canadians, according to the Canada Mortgage and Housing Corporation. “The Montreal and Québec areas have shown strong economic growth and particularly vibrant job markets in the last two years.This certainly contributed to the financial stability of households and supported their ability to make their mortgage payments on time
 
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News Jarek Bucholc ||Street Smart RE InvestingJarek Bucholc ||Street Smart RE Investing March 17, 2019 147   0   0   0   0   0
Commercial property investment in Alberta significantly grew in Q4 2018, largely fuelled by the province’s two most important markets, according to Altus Group’s latest analysis. Calgary saw its third consecutive year of total investment growth, reaching an annual total of $3.7 billion.However, Altus Group warned that considerable uncertainty remains.  “2018 saw increases in investment across all sectors when compared to the previous year, however this has not translated into the higher volumes seen in the past,” Tatterton explained. “What it has demonstrated is that the market is continuing along a path of recovery, and until some of the uncertainty surrounding the greater economy is resolved, it is likely that 2019 will follow a similar path as 2018.” Calgary’s office segment helped propel the market to its stellar performance, with its 21% annual increase in investment value to reach $960 million.The industrial sector also experienced its best year over the past decade, with 132 deals representing an investment total of $758 million. The city’s apartment investment also grew by 8% last year, with Q4 accounting for 68% of this volume.The ICI land market had a 27% increase, while residential investment went up by 18%. Read more:Commercial property market heavily leans upon tech companies[1] Meanwhile, Edmonton’s commercial activity
 
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