Weekly Address October 16th Edition

Lots to cover this week in your Weekly Address. Industry news, Starbucks listed for sale, upcoming dividends and more. Let’s get started! 

1141 Canadians are about to get paid! The Park at Willowglen in Calgary is about to do it’s next quarterly dividend. This is one of four properties Porte Communities has brought onto the addy platform.

Past Porte Opportunities:
The Park at Willowglen, Calgary, AB
Altadore Townhomes, Calgary, AB
Airdrie Block, Airdrie, AB 

Current Porte Opportunities: 

The Harrison, Calgary, AB 
(Invest by the next ex-dividend date of October 31st 2024 to be included in the November and beyond dividends.)

Today’s reading time is 5½ minutes.

🎤 Interview: Brad Cartier, Blair Capital

(Issuer: Blair Capital – 2440 Albert Street, Rockland, ON)

☕ Chilliwack Starbucks Listed For Sale

The 2nd property to drop on the addy platform all the way back in 2020 has been listed for sale. The Chilliwack Starbucks, brought onto the platform from Issuer Steve Evans (same issuer as The Lex and The Avesta Apartments) has put the property up for sale. Over 800+ investors invested in this property and it has been doing consistent quarterly dividends ever since. Investors in this property will be updated as details are shared from the Issuer. 

📰 Current Opportunities

150 Hughson St
Hamilton, ON

150 Hughson St is a 56-unit multifamily property with 5,000 sq/ft of commercial space. It offers the potential for rental increases and the opportunity to add additional rental units. (Details)

✅ Estimated Term: 3 Years

👀 Issuer Interview

The Harrison
Calgary, AB

This is your opportunity to participate in the ownership of 51 residential units and 12 commercial units in a single 5-storey mid-rise apartment building located in the City of Calgary. (Details) 

✅ Monthly Dividends

✅ Cash Flow

Invest by the next ex-dividend date of October 31st 2024 to be included in the November and beyond dividends.

📰 Industry News

CREA lowers housing market forecast for 2024 amid ‘holding pattern’ for home sales

CREA said Tuesday it now thinks the national housing market will remain in “more of a holding pattern” until next spring with 468,900 properties forecast to trade hands this year. (CTV News) 

Westbank Sells M2 Office Building In Vancouver For $115M To Spear Street Capital

The office building is known as M2 and is located at 114 E 4th Avenue, near the intersection with Main Street, in the Mount Pleasant neighbourhood of Vancouver. M2 is part of the ongoing Main Alley project being undertaken by Westbank, a mixed-use campus that the developer says “will create a physical foundation on which the creative economy in Mount Pleasant can grow.” (Storeys) 

Analysis: David Eby and NDP align with Christy Clark on key housing initiative

As it seeks re-election on Oct. 19, the single significant housing strategy the BC NDP has costed in its platform is one that subsidizes home purchases for first-time homebuyers. (BIV) 

Inflation rate drops to 1.6% in September

Canada’s inflation rate fell to 1.6 per cent in September, Statistics Canada reported Tuesday, after hitting the Bank of Canada’s 2 per cent goal in August. The data agency said the numbers marked the smallest year-over-year increase to the consumer price index since February 2021. (CBC) 

How DCC Rates Compare Across Metro Vancouver Municipalities

As more and more members of the general public become increasingly aware of the high amount of development cost charges (DCCs) that developers have to pay, and then pass on to end users, scrutiny of these government fees has also increased. (Storeys)

Related: Brad Cartier from Blair Capital talks about DDCs in Rockland, Ontario 

TD Greystone Sells Partial Stake In Vancouver Telus Garden To Morguard

On Wednesday, Mississauga-based real estate company Morguard Corporation announced that it had acquired a 20% ownership interest in Telus Garden, a high-profile Class-AAA office tower in the heart of downtown Vancouver. (Storeys)

Jobless rate drops to 6.5% in September. What that means for rate cut hopes

The Canadian economy added some 47,000 jobs in September, enough to lower the unemployment rate for the first time since the start of 2024. (Global News)

🤔 Got Questions?

Do you have questions about your addy account? Register for the next weekly Zoom call

• Oct 23rd – 8:30am Pacific / 11:30am Eastern

What did you think of today’s newsletter? 🤔

Great 😊 | Solid 🙂 | Meh 🫤