PRESTIGIOUS PROPERTIES ANNOUNCES $6.3 MILLION MOBILE HOME PARK ACQUISITION IN CENTRAL ALBERTA

Canmore, Calgary, Vancouver, July 6, 2017 – Prestigious Properties Group (“Prestigious”) (www.prestprop.com) is pleased to announce the acquisition of three mobile home parks with over 160 pads in Central Alberta for $6.3M, well below appraised value. Prestigious Properties acquires and manages undervalued apartment buildings and mobile home parks in Western Canada. “In Western Canada, investment […]

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New mortgage rules: landlords rejoice and would-be buyers weep

The government of Canada over the last week announced a number of changes, incl. reporting requirements for SFH (single family homes) and tighter mortgage lending requirements. Because the Bank of Canada will very likely not raise interest rates – as it will make the currency artificially high, negatively impact stock market values and curb investment […]

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Quest for Yield – Canadian MIC Universe

We analyzed what a tightly regulated mortgage investment corporation (MIC) is and how to analyze one here on our blog a while ago. Feel free to re-read it if you haven’t done so lately. With ever declining yields it is getting tougher and tougher to get a fairly low risk, yet decently yielding investment vehicle […]

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Prestigious Properties – New Acquisition!

Prestigious Properties is pleased to announce that it’s most recent LP, Kings Castle LP, bought a 67 pad + duplex Mobile Home Park (MHP) in Cranbrook, BC for $2.7M after a lengthy search for MHPs in various locations of BC. Many MHPs are priced on re-development land value and often trade for well above $60,000 to $90,000 per pad. This represents […]

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Why long term hold makes (more) sense !

As you know, we strongly believe owning, and carefully buying income producing real estate (without overpaying) beats the volatile stock market. While others panic in the wild market corrections we have seen over the last few months (due to Greece, Chinese stock market correction, Iran, interest rate cuts, ..) , we coolly collect rent month […]

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