Occupancy Permit issued for Maple View Heights

The last chance to invest is Jan. 30!

The City of Mission issued a building Occupancy Permit on December 20, 2023

They are now working closely with leasing and property management partner – AWM Alliance Real Estate Group Ltd. – to transition the property from the oversight of the construction team to the operations team while the interior finishing and cleaning trades wrap up their work over the next few weeks. Leasing is well underway and AWM hosted the first open house and scheduled showings on Saturday, December 30th. To date, twelve (12) units have been leased and their first tenants will be moving into the building on February 1st!

The total project budget stands at $43,880,500 and the final cost of construction (i.e. hard costs) stands at $28,115,000 or $305.83 per square foot. This is substantially below replacement value and an exceptional achievement! It would not be possible to build this 100% concrete, state-of-the-art building for less than $450 per square foot in today’s market. The asset was appraised at $48,500,000 as of May 11, 2023 utilizing a 4.25% cap rate. However, they firmly believe this asset will trade in the $55M+ range over the next 2 to 3 years once interest rates normalize, and we get some cap rate compression. Once stabilized, these assets have a very high degree of predictable cash-flow due to long-term leases with a legal obligation for tenants to pay. The market fundamentals remain solid – an imbalance between supply and demand, coupled with sharply increased construction costs, will constrain new supply and continue to drive rent growth and asset valuations.

Looking for a new rental in Mission, BC? Check out www.mapleviewheights.com

It’s the last chance to participate in the ownership of the 108-unit purpose built rental development, including 11 affordable rental units, located in Mission, BC that is nearing completion. The raise closes Jan. 30, 2024!

✅ Who has invested? 1018 Canadians have invested so far – still time to join them.

✅ Who can Invest? Age of Majority Residents of Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, Northwest Territories, Nunavut, and Yukon can participate.

✅ Wow, all of Canada can invest? Yes, all of Canada over the age of majority 🇨🇦

Issuer Interview

Meet Darcy, the Issuer of the Maple View Heights Apartments

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The Issuer:

The Issuer in this opportunity is Stream Property Partners Inc. (“Stream”). Stream Property Partners Inc. is a commercial real estate investment and development firm based in North Vancouver, BC. Stream sponsors high-quality, private equity investment opportunities available exclusively to qualified investors. Stream are commercial real estate experts, grounded in a tradition of hard work, exceptional client service and a pragmatic investment philosophy driven by market fundamentals and data analytics. Stream seeks partnerships with like-minded investors, lenders, realtors and private equity firms in Western Canada. Stream is co-founded by three partners: Alan Haigh, Darcy Ulmer, and Hans Edstrand.

The Dealer:

Equivesto is on a journey to reimagine how private company investment and fundraising is done in Canada. They believe in a future where access to equity investments and opportunities are not limited by privilege or network. They look to design a tomorrow that is driven on community values and collaboration.

Investing in crowdfunding and exempt market offerings has significant risk. Investors may not be able to resell their securities quickly or at all and the securities may be subject to resale restrictions. These investment opportunities may result in the loss of all or most of your investment. You may receive limited ongoing information about a company or an investment made through Equivesto. Please be aware that investments offered by third-parties through this Equivesto operated offering are risky. You may receive limited ongoing information about a company or an investment made through Equivesto.

Purchasing these securities will be conducted by Equivesto Canada Inc. (Equivesto), an Exempt Market Dealer (EMD) in Ontario, British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, Yukon, North West Territories, Nunavut, Prince Edward Island, Nova Scotia, New Brunswick, and Newfoundland and Labrador (ND# 63820). Equivesto and Addy Portal Corporation (addy) have entered into an agreement, pursuant to which and subject to its terms, Equivesto shall act in the capacity of an EMD for distributions facilitated by addy. This portal is operated pursuant to that agreement.

One thought on “Occupancy Permit issued for Maple View Heights – Tranche 3 closes on Tuesday!”

Cameron Rogers says:
I attended the groundbreaking with addy crew. Awesome to see the building completed. Congratulations all around to Darcy and everyone who made it happen.

January 28, 2024 at 8:47 pm

Properties

Occupancy Permit issued for Maple View Heights – Tranche 3 closes on Tuesday!