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Lots to cover this week!
The Bank of Canada just cut it’s key interest rate to 3.75%. (CBC)
With all levels of government promoting infill housing development, addy is uniquely positioned to play a key role by empowering Citizen Builders through access to addy Community Capital. Discover more about how The Power of Community Capital can be a catalyst for increasing housing supply in Canada.
Are you a Dealing Representative (or want to be one)? We are hiring! Check out the details of the role and be sure to apply if you think it fits your skill set.
Dividends – Both The Harrison property in Calgary and 874 Sherbrooke in Montreal did dividends this week. Both of these properties have monthly dividends forecasted for their investors.
Interviews – We conducted a few interviews recently: And finally, do you know someone who would love to be part of the addy community? If you’re enjoying your experience as an addy member, why not share the love and invite a friend to join? The more members, the stronger and more valuable the addy platform becomes for everyone.
As always, thanks for reading and keep the feedback coming at the bottom of the newsletter. We read it and adjust to ensure we are of value for all.
Today’s reading time is 5½ minutes.
Offering Updates
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🏢 Lankin Investments |
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Lankin Investments, a new issuer on addy, is a leading Ontario-based real estate asset management firm with over $1B in assets under management, including 2,800+ multi-family units and 2,000+ units in development. Their first offering on the addy platform is an 11-storey brick residential building located in the heart of downtown Hamilton, Ontario. This property includes 56 apartment units and 5,000 sq/ft of commercial space. It is a shorter-term investment with a projected 3-year timeline. The vision for 150 Hughson Street South focuses on a value enhancement strategy, aiming to make capital improvements that will revitalize both the building and the surrounding community.
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📰 Industry News |
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New Vancouver development promises a rich and fulfilling lifestyle with unbeatable pricing With modern, stylish interiors, expansive outdoor spaces ideal for unwinding and connecting year-round, and amenities designed to create a sense of community (like a rooftop oasis for social hour!), Ortus is a place where function meets lifestyle in perfect harmony. (Daily Hive) |
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Alberta housing starts rise 35 per cent over previous year Alberta’s impressive rise in housing starts underscores the essential collaboration between all levels of government and the building industry. (Journal of Commerce) |
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Is the new Canadian homebuyer more likely to be a solo buyer? According to a survey released in July by real estate search portal Point2, 42 per cent of prospective first-time homebuyers said they were considering applying for a mortgage alone. (BIV) |
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Scarborough Office Building Sold A Year After Receivership At just eight storeys, the building itself is fairly innocuous, but the grounds for receivership are arguably not: in November 2023, the building was subject to receivership proceedings after The Bank of Nova Scotia went to the Ontario courts over an alleged default of $26.6M. (Storeys) |
🤔 Bring Your Questions |
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