Presented by Equivesto

The Harrison

3470 18 Street SW, 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.

The Plan: The plan is to hold for 8 years as an income-producing asset, allowing for monthly distributions and then sell the property.

Create an Account

DEALER

96

8 Years

GP

*Investments in this property are open to all residents in Canada above the age of the majority. Qualified members can invest starting from $1. The minimum investment on this property is $1. All transactions will require approval by the EMD on record, Equivesto Canada Inc, subject to suitability review and may be reduced.

 

ways to Payout

When evaluating commercial real estate deals there are 5 primary ways an investment pays out: Cash Flow, Passive Appreciation, Mortgage Paydown, Active Appreciation, and Levered Returns on Equity. Learn more about these factors here.

Things to note about this property:

  • The cash flow for this property is expected to be 5% annually
  • The property value at disposition after disposition costs is expected to be $33M representing a $5.3M gain in property value
  • The mortgage is expected to be paid down by approx. $130,000 a year.

Estimated distribution schedule:

Distributions Completed So Far

Past Monthly Distributions:

  • ✅ $2,064.32 – February 28th 2024 
  • ✅ $1,062.50 – March 27th 2024
  • ✅ $1,162.84 – April 24th 2024
  • ✅ $1,220.80 – May 30th 2024

The Reel

The Gram

the highlights

  • 51 residential units
  • 12 commercial units
  • Built in 2022

Location in Calgary

The Harrison - Map

Click here to view location on Google Maps

 

About Neighbourhod

  • Transit located within walking distance.
  • Green space located within walking distance.
  • Variety of retail amenities and restaurants within walking distance.
  • Very good access to major roadways such as 33 Avenue SW & Crowchild Trail.
  • The average income within a 5-kilometer radius of the subject property is $155,131, which is higher than the average income of $135,732 in Calgary.

Calgary Real Estate Market

The rental market in Calgary is experiencing strong and sustained demand, driven by a rapid increase in population and rising homeownership costs in the single-family market. In the first half of 2023, demand continued to grow, with over 100,000 new residents in Alberta and a 4.5% year-over-year increase in the second quarter. The influx of immigrants and domestic migration is expected to keep rental needs high throughout 2023.

As mortgage rates rise due to recent Bank of Canada rate hikes, there is a shift in housing demand towards the multifamily sector. Construction activity has improved since 2020, with a record-high level of completions in 2022. In 2023, new supply is expected to remain elevated but may moderate compared to the previous year due to increased construction and financing costs. Despite this, vacancy rates are projected to decrease below 2.0% by the end of the year.

Rents are expected to increase by double digits, with an annual rent increase potentially surpassing 10.0%. The absence of rent control and the combination of high demand and limited supply contribute to this acceleration. The multifamily outlook for 2023 anticipates continued employment growth, with the job market benefiting from population gains and elevated oil prices.

In terms of investment highlights, the total dollar volume transacted experienced a slight contraction in the first quarter of 2023. However, interest rates stabilizing in the spring led to a rapid increase in total dollar volume. The average sale price in Calgary has been on an upward trajectory, approaching $185,000. The city’s multifamily market has relatively stable cap rates, around 5.0%, making it attractive to investors amid strong fundamentals.

Key points from the previous year include a record high in construction activity, declining vacancy rates, and rapid rent growth. The Beltline and Southeast neighborhoods saw the highest number of deliveries, contributing to the overall market dynamics. Vacancy rates dropped to an eight-year low, with significant rent growth in Fish Creek, the Northeast, and Downtown submarkets. Overall, Calgary’s multifamily sector appears robust, with positive indicators for continued growth in 2023.

Source


 

The General Partner

Porte has a fully integrated team of over 50 staff across BC and Alberta. From ground up development and construction, project sales, asset and property management, and arranging financing of completed assets, Porte’s team is fully capable of providing scale and operational efficiencies. Porte was founded in 1968 and has developed, managed, and operated over 3500 residential units and 1.2M square feet of commercial space.

 

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.

 

Equivesto – Important Legal Notice and Disclosure:

Equivesto Canada Inc. is registered as an Exempt Market Dealer under applicable securities legislation in all Canadian provinces and territories, however, no securities regulatory authority has approved or expressed an opinion about the securities offered on this platform. By accessing this site and any pages thereof, you agree to be bound by its Terms of Use and Privacy Policy. Investing in crowdfunding and exempt market offerings has significant risk. Investors may not be able to resell quickly or at all. Exempt market securities may also receive limited ongoing issuer information. You should invest only if you are prepared not to receive any return on your investment and/or lose your investment in its entirety.

Please visit our Learning Centre for more information. You can contact Alex Morsink from Equivesto at support@equivesto.com.

Forward-Looking Statements

Some information contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the words “intention”, “will”, “may”, “can”, and similar expressions are intended to identify forward-looking statements. Although the issuer and/or dealer (as applicable) believe that the expectations reflected in such forward-looking statements and/or information with regard to a given investment opportunity are reasonable, undue reliance should not be placed on forward-looking statements since there can be no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Furthermore, the forward-looking statements contained in a news release are made as at the date of such news release and there is no undertaking that any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Code Embed: Cannot use CODEmobilemenubar as a global code as it is being used to store 13 unique pieces of code in 19 posts