DeLuca Veale News
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.