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This property sold out to 770+ Canadians!

The Petro Fina Building

736 8th Avenue SW, Calgary, AB

Petro Fina is an 11-story building containing 162,335 square feet of office space. The property is located in the Downtown Commercial Core, in the Southwest quadrant of Calgary.

The Plan: Convert approximately 130,000 square feet of office space to 105 homes. Almost half of the homes will be offered at below market rental rates. The building’s second floor will be converted to retail space to service resident of the buildings and Plus 15 users.

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Financial Return



3-5 YEars


*The key numbers to explain how the Issuer has made this estimate are available within your addy account. Investments in this property are restricted to British Columbia, Alberta, Ontario, and Saskatchewan residents. Qualified members can invest from $1 and up to $2,500.

**This is the day when the Issuer completes a distribution, or the property exits — aka cash earned from doing zero things, aka #passiveincome. For this property, there are two Owners’ Day projected.

Spread of Investors

736 8th AV SW - Spread of Investors Map

The Issuer

Maxim Olshevsky, CEO of Astra Group and Managing Director of Peoplefirst Developments, is an entrepreneur, investor, and visionary with 19 years of experience in the real estate development and construction industry. Specializing in adaptive reuse and office-to-residential conversions, Maxim has a unique ability to unlock potential in under-utilized spaces and create value for communities and partners. 

Early in his real estate career, Maxim focused on acquiring and repurposing various small to mid-sized under-utilized buildings, making a positive impact on their communities. Driven by a desire to create an even greater impact, he identified the potential in large-scale office tower conversions. Recognizing the shifting landscape propelled by the Covid pandemic, Maxim saw the untapped potential in office-to-residential conversions, positioning himself at the forefront of this promising industry.

His determination led to the acquisition of 500,000 sq. ft. of space in under two years. Maxim’s calculated and decisive approach established him as a visionary in this emerging industry – being amongst the first to take action. Now, he leads a dedicated team that transforms vacant office towers into residential spaces, emphasizing affordability, sustainability, and community vibrancy. 

Currently at the helm of three major projects in the Calgary market, Maxim is playing a significant role in the city’s revitalization efforts. As an investor, his focus on large-scale projects and innovative solutions offers confidence and a positive outlook for those partnering with him in Calgary’s real estate market. Maxim’s goals are shaped by his desire to utilize his talents, resources, teams, and hands-on approach to ensure a bright and prosperous future for the city he calls home.

The Reel

The Dealer

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 Atlas One. Please be aware that investments offered by third-parties through this Atlas One operated Platform are risky. 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 Atlas One.

This Offering has the following investment profile, which may not be aligned with your own circumstances

  • Risk tolerance/capacity: High Risk
  • Investment time horizon: 3-5 years
  • Investment Objective: Growth
  • Investment knowledge/experience required: Fair/Moderate

the highlights ✨

  • The current list of retail tenants are as follows:
    • Royal Bank
    • ChickPea
    • S Tejani Prof Corp
    • Rita Sandwiches
    • Asian Village
  • Floors 2 to 11 are approx. 45% vacant.
  • The building was built in 1959.
  • The building is structurally sound and does not have post-tension cables.
  • There are 4 Elevators in the building which is more than required.
  • The 104 units consists of:
3 Bed/ 2 Bth 32
2 Bed/ 2 Bth 31
Type C 2 Bed/ 2 Bth/ Office 4
Type F 2 Bed/ 2 Bth 15
Type H 2 Bed/ 1 Bth 16
Type I 3 Bed/ 2 Bth 1
Type A 1 Bed/ 1 Bth Penthouse 2
Type B 1 Bed/ 1 Bth Penthouse 2
Type C 3 Bed/ 2 Bth Penthouse 2
Parking 16
Storage Lockers 64

Near the Property

About Neighbourhood

  • The property is located in the West End of Calgary’s Downtown Core, situated on the corner of 8th Avenue SW and 7th Street SW.
  • The property boasts approximately 125 feet of frontage on both 8th Avenue SW and 7th Street SW, and stands out prominently among neighboring properties.
  • Surrounding properties comprise a mix of both residential buildings and office towers.
  • This downtown location offers easy access to various amenities, including shopping districts, food and drink establishments, wellness facilities, entertainment venues, parks, pathways, libraries, museums, schools, hospitals, and the University of Calgary downtown campus.
  • Additionally, the property is situated within close proximity to eastbound and westbound C Train stations and bus stops, making transportation easily accessible.

Location in Calgary

736 8th AV SW - Map

Click here to view location on Google Maps

Current Calgary Downtown Office Stats:

  • Current Vacancy is at 32.6%
  • 130K square feet Net Absorption*
  • $12.55 is the net asking rent per square feet
  • While there may be positive developments in the near future, a longer-term look reveals a continuous upward trend in vacancy rates and a concurrent decrease in net absorption, suggesting potential challenges for the real estate market in the future.

*Net absorption refers to the net change in the amount of leased real estate space in a particular market over a given period of time. It is calculated by subtracting the amount of commercial real estate space vacated by tenants during the period from the amount of space leased by tenants during the same period. Positive net absorption is a good sign for the market as more space is being leased than is being vacated.


Calgary Market Fundamentals

Calgary Multifamily

  • Calgary’s rental market is predicted to remain in high demand for 2023 due to several factors, including a growing population, a thriving labor market, and a fallback in home buying. Alberta had the 2nd fastest rates of annual rent increases in 2022, with a high influx of residents from Ontario and British Columbia.
  • Calgary’s rental rates are significantly lower than Toronto and Vancouver, and with steady economic growth, higher borrowing costs for mortgages, and new purpose-built rental developments, the rental market is expected to remain strong in 2023.
  • The rental vacancy rate dropped to 1.2% in stabilized buildings by the end of 2022, and with 29 new projects launched, adding 3,078 rental units to the market, rents are expected to increase by at least 5% in 2023. Calgary’s affordability and desirability, with hundreds of new jobs becoming available, make it an attractive city for people to reside in.

About Alberta Tourism

  • Alberta tourism industry went from generating $8.2 billion pre-pandemic to a low of $4.7 billion when there were strict public health measures in place. It is expected to rebound somewhat this year, bringing in about $5.2 billion.

How Do I Make Money?

You can make money in 2 ways:

  1. Sale of the Property: When the property is sold, any appreciation is paid back to investors in addition to their investment principal.
  2. Rental Income: When tenants pay rent, additional cash flow can be passed back to investors in the form of a distribution.

Details are outlined in the Offering Documents for each property.