The federal government’s conditional approval of the Enbridge Northern Gateway brings us one step closer to further underpinning the strong long term economic fundamentals that support Alberta as a superior real estate investment market. Read more
Author Archive | Prestigious Properties
Your Investing Rights Will be Compromised!
We want to thank everyone who has already participated in our email/letter campaign against the CSA/OSC proposals for investor limits. Over 500 letters have already been submitted, but we can do better! This proposed change would be detrimental to the integrity of Exempt Market, and limit investor choice and freedoms. If you have not yet had the […]
Property Biz Canada: Prestigious, Mainstreet bolster potential in target markets
Property Biz Canada recently featured our latest Press Release in their May 24th issue! “Prestigious Properties’ $10.3 million sale of a 108-unit Abbotsford, B.C., multi-family property to Mainstreet Equity Corp. will allow both companies to pursue interests in specific markets.” Click Here to view the full article!
Press Release: Prestigious Properties May 20, 2014
Prestigious Properties Sells 108 Unit Multifamily Property in Abbotsford, BC for $10.3M to Mainstreet Equity Corp CANMORE, AB – May 20th, 2014 – Prestigious Properties has completed the sale of its 108 unit apartment building complex in Abbotsford, BC to Mainstreet Equity Corp. (“Mainstreet”) (TSX: MEQ) of Calgary, AB for $10.3M. The property […]
Press Release: Prestigious Properties Closes One of the Largest Edmonton Multi-Family Acquisitions of 2013
Prestigious Properties Closes One of the Largest Edmonton Multi-Family Acquisitions of 2013 CANMORE, AB – October 10, 2013 /CNW/ – In one of the largest Edmonton multi-family transactions of 2013, Prestigious Properties (“Prestigious”) has completed the acquisition of a 71 unit apartment building for $10.65M. This acquisition will benefit Prestigious’ cash-flow in an expanding portfolio […]
Apartment Building Investing: New CMHC Policy – Landlords Rejoice!
Contrary to Popular Belief CMHC does NOT Insure Home Buyers but Lenders. With this new cap in place mortgage insurance for banks will become somewhat tougher and thus mortgages will be more expensive. Apparently my 600+ co-investors, my partners, and myself, just made a BUNCH of money as this new policy will make mortgage qualification […]
Are hotel condos a great investment (compared to rental pooled condos) ?
I started my real estate investment career in rental pooled condos, buying four; two of which I still own to this day. Around the same time in the mid- to late 90’s I also started looking into hotel condo projects, which on paper can offer higher cash-flow. I stayed at the 1 King West hotel […]
Real Estate Investments: what we have learned in 12+ years buying over $1/6B
What have we learned since 2000 in our real estate investments: We have done really really well since our inception in the year 2000 to grow to around 600 investors and an asset base approaching $90M (we actually were over $100M before we sold assets in various secondary markets in 2011 and 2012). But, we […]
Risks of fixed mortgage investments
Lately, we’ve seen firms advertise high interest rates again .. using such terms as “guaranteed”, “mortgage backed”, “secured by real estate” or “preferred rate of return” or similar misleading words. We do understand the desire for monthly income, especially by older folks or retirees ! The financial industry is full of clever marketing people, many […]
Rental properties are solid investments as overall real estate market cools
Why houses/condos may fall in value but apartment buildings do not. There is a common misperception that all real estate classes are created equal. House prices are falling in some cities in Canada, primarily because the rules to get mortgages have changed, such as increased debt-coverage ratios, higher down payments and shorter amortization. This allowed […]