DeLuca Veale News
REALSTREAM SURPASSES $200 MILLION MARK WITH THE ACQUISITION OF 250,000 SF SHOPPING CENTRE, TOWERLANE CENTRE IN AIRDRIE ALBERTA.
Jan 2021 – Comox Valley-based RealStream Income Properties LP has added another large grouping of properties to it’s portfolio of income producing real estate, now valued at approximately $220 million. The latest acquisitions are located in Airdrie, Alberta, just 20 minutes North of Calgary. The properties are Towerlane Centre and Airdrie Village, these two centres operate as one physically, sharing entrances and parking lots and are known locally as Towerlane Centre.
These two adjacent sites are home to more than 50 tenants with a mixture of retail, office and professional services. In total, the 22.5 acre site represents 25% of Airdries downtown core. Prominent tenants are Safeway, Staples, Shoppers Drug Mart, Good Life Fitness, CIBC, TD, Dollarama, and Starbucks.
RealStream was founded in 2014 to allow small and medium sized investors the opportunity to invest in a predominantly BC based portfolio of income-producing properties. Fourteen of the nineteen properties are located on Vancouver Island – one in Victoria, five in the Comox Valley, eight in Nanaimo, and one in Campbell River. The other two non Vancouver Island properties are located in Kamloops and Prince George, BC.
“We have successfully acquired another Grade A asset in a medium sized growing community that we believe in long term and in doing so we have been able to diversify into another province. The timing was right and the tenant mix of this centre was just what we feel makes a solid investment holding, necessity retail and professional office.” noted team lead Jim Stewart, cofounder of RealStream with partners Richard DeLuca and Jonathan Veale.
Mr. Veale noted, “It’s really the right time to be in acquisition mode in secondary markets like Airdrie, particularly given interest rates and the cap rates we are achieving buying in these areas, we feel the future is very bright for this portfolio as a result”.
The Comox office of RealStream may seem a long way from Airdrie Alberta but as Richard DeLuca points out, “Getting a foothold into Alberta is a good step at this point and given our proximity to Calgary via the Comox Valley Airport and WestJet, we can be in Airdrie in under two hours from our head office.”
RealStream continues to build it’s investor base and portfolio of properties handpicking from properties throughout BC and Alberta. RealStream has a growing list of investors and the portfolio continues to outperform its targeted 7-9 percent annual returns. One-year performance as of Aug 31/2021 is 17.0 percent while the five-year compounded annual return is 12.7 percent. Since it’s inception, May 31, 2014 the portfolio return is 12.3 percent net of management fees.
RealStream is sold under an Offering Memorandum and to receive a copy and learn more contact Richard DeLuca at 877-577-3842.
COMOX VALLEY REAL ESTATE INVESTMENT FIRM ACQUIRES $37 MILLION PORTFOLIO OF NANAIMO INVESTMENT PROPERTIES
July 2, 2019 – Comox Valley-based RealStream Income Properties LP has added another four properties to its portfolio, now valued at approximately $100 million. The latest acquisitions are located in Nanaimo around the Aulds Rd. and Metral drive
loop. The properties are Pleasant Valley Landing, Aulds Corner, 6475 Metral Drive and 6470 Metral Drive.
These four sites are collectively home to over 20 tenants with a mixture of office and retail. Prominent tenants are HSBC Bank, BC Ministry of Labour, Vancouver Island Health Authority, Canadian Western Bank, ICBC, Great Canadian Oil Change, Planet Fitness and Milano’s Restaurant.
RealStream was founded in 2014 by Jonathan Veale, Jim Stewart and Richard DeLuca to allow local people the opportunity to invest in a predominantly Vancouver Island portfolio of income-producing properties. Fourteen of the fifteen properties are located on Vancouver Island – one in Victoria, four in the Comox Valley, eight in Nanaimo, and one in Campbell River. The other RealStream property is located in Kamloops, BC.
“Adding this quantity of quality Real Estate in one transaction is a very positive development for RealStream,” said acquisition team lead and co-founder, Jim Stewart. “In just five years, RealStream has acquired fifteen properties with approximately 341,000 square feet of total building area and 876,000 square feet in total land area, housing sixty-one commercial tenants. “We are very pleased that the portfolio is 100 percent occupied and that it has been this way for quite some time,” noted Jonathan Veale, RealStream co-founder and Portfolio Manager with DeLuca Veale Investment Counsel, the distributor and dealer of RealStream.
RealStream has a growing list of investors and the portfolio continues to outperform its targeted returns. One-year performance as of May 31/2019 is 11.6 percent while the five-year compounded annual return is 11.2 percent. This 5-year return also represents the inception date of the portfolio.
“We are proud to report that the rates of return we have achieved are net of all management fees charged to operate the portfolio,” commented RealStream cofounder and DeLuca Veale Portfolio Manager, Richard DeLuca . The growth of RealStream has meant additional growth for DeLuca Veale which recently set up new offices in Victoria where they are now hiring more portfolio managers and financial planners to service a growing south-island clientele.
“Our business has really taken off in the last few years and it’s an exciting time for all of us and our clients who are very pleased to be investing in income producing real estate that doesn’t require their involvement”, noted Jonathan Veale.
Giving back to our community
The entire team at DeLuca Veale is active in the community, coaching youth soccer, hockey, volleyball, and baseball. And, we play on sports teams ourselves. We love where we live and value the community and all it has to offer. Whether it’s sponsoring the Comox Valley United Soccer Club Mini World Cup or attending any number of local charitable events, we are big proponents of giving back with both our time and our resources whenever possible. The partners and staff are all involved on various boards and committees throughout our community to help improve the lives of others and make a difference to those who need our help. All three business partners and our staff have children that are active in hockey, theatre, dance, volleyball, and more, and we welcome the chance to support these great community programs.