{"id":1874,"date":"2012-11-29T16:57:25","date_gmt":"2012-11-29T21:57:25","guid":{"rendered":"http:\/\/traceyarial.com\/blog\/?p=1874"},"modified":"2013-05-29T19:40:17","modified_gmt":"2013-05-29T23:40:17","slug":"olympicvillage","status":"publish","type":"post","link":"https:\/\/traceyarial.com\/blog\/en\/olympicvillage\/","title":{"rendered":"Olympic Village Purchase Demonstrates High Performing Asset Class"},"content":{"rendered":"

Trading at record low cap rates means stability and income stream predictability<\/b><\/h1>\n

\"Olympic<\/a><\/p>\n

When Canadian\u00a0Apartment Properties Real Estate Investment Trust (CAPREIT) finalized their purchase of the 980-apartment Olympic Village in Montreal on November 1, 2012, the company achieved their goal to become more geographically-diversified across Canada, while ensuring stable, predictable rental income over the long-term.<\/p>\n

It\u2019s got an extremely stable group of tenants who like living there for a very strong income stream,\u201d says president and CEO Thomas Schwartz. \u201cThere\u2019s always some growth because we\u2019re a very good operator and we feel we can add value through CAPREIT\u2019s style of operating.\u201d\"Thomas<\/a><\/span><\/p><\/blockquote>\n

Schwartz says that CAPREIT\u2019s experiences in Montreal are matched in apartment investments in all the major markets across the country. High occupancies\u2014the rate is 98.2% in Montreal\u2014and extremely low interest rates help. They also receive CMHC financing, an additional benefit that other asset classes don\u2019t enjoy.<\/p>\n

We\u2019re getting ten-year money at 2.8% and lower,\u201d says Schwartz. \u201cThat\u2019s significantly lower than the mortgage rates for any other asset class, so again that\u2019s another strong driver for apartments.\u201d<\/span><\/p><\/blockquote>\n

Schwartz says he worries that interest rates might rise, and new competition from the condominium rental market will hurt.<\/p>\n

CAPREIT plans to invest in Olympic Village improvement. \u201cLike all properties that are old, they need capital to bring them up to our standards of quality and life safety,\u201d says Schwartz. \u201cWhen we examined that property, we certainly know what\u2019s required and we\u2019re prepared to do it.\u201d<\/p>\n

Note: This article was published on p 51 of\u00a0Canada’s Leading Real Estate Forum Magazine, Toronto, Winter 2012.<\/p>\n","protected":false},"excerpt":{"rendered":"

Trading at record low cap rates means stability and income stream predictability When Canadian\u00a0Apartment Properties Real Estate Investment Trust (CAPREIT) finalized their purchase of the 980-apartment Olympic Village in Montreal on November 1, 2012, the company achieved their goal to become more geographically-diversified across Canada, while ensuring stable, predictable rental income over the long-term. It\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_wp_convertkit_post_meta":{"form":"-1","landing_page":"0","tag":"0","restrict_content":"0"},"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[20],"tags":[],"class_list":["post-1874","post","type-post","status-publish","format-standard","hentry","category-hundredmilecircle","post-wrapper","thrv_wrapper"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2buQs-ue","jetpack-related-posts":[{"id":1930,"url":"https:\/\/traceyarial.com\/blog\/en\/jack-diamond\/","url_meta":{"origin":1874,"position":0},"title":"Attracting Families Crucial to Urban Renewal","author":"Tracey Arial","date":"November 29, 2012","format":false,"excerpt":"The growth of Canada\u2019s inner cities is positive, says Jack Diamond. Now we need more diversity. The population of Canadian cities has been increasing rapidly for about a decade now. The trend reverses the previous trend towards decentralised communities within an ever-widening geographic base to such an extent that Jack\u2026","rel":"","context":"In "Canada"","block_context":{"text":"Canada","link":"https:\/\/traceyarial.com\/blog\/en\/category\/canada\/"},"img":{"alt_text":"Jack Diamond","src":"https:\/\/i0.wp.com\/traceyarial.com\/blog\/wp-content\/uploads\/JackDiamond.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1189,"url":"https:\/\/traceyarial.com\/blog\/en\/questions-about-rights-of-low-income-tenants\/","url_meta":{"origin":1874,"position":1},"title":"OMHM versus Danny Palladini Raises Serious Questions About Rights of Low-Income Tenants","author":"Tracey Arial","date":"July 4, 2012","format":false,"excerpt":"The next hearing in the case of Montreal\u2019s municipal housing authority (OMHM) versus Daniel Palladini will take place at 9 a.m. on Monday, July 9. It happens in room 2220 of the D wing at the Quebec Rental Board main office in the Olympic Village, 5199 Sherbrooke Street East. The\u2026","rel":"","context":"In "Island Report"","block_context":{"text":"Island Report","link":"https:\/\/traceyarial.com\/blog\/en\/category\/canada\/island-report\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1180,"url":"https:\/\/traceyarial.com\/blog\/en\/two-more-days-scheduled-for-eviction-case-omhm-versus-daniel-palladini\/","url_meta":{"origin":1874,"position":2},"title":"Two More Days Scheduled for Eviction Case: OMHM versus Daniel Palladini","author":"Tracey Arial","date":"January 19, 2012","format":false,"excerpt":"Thirteen of the almost 200 seniors living in the Manoir Roger-Bernard low-income residence in Pierrefonds spent another day at Quebec Rental Board hearings in the Olympic Village last Thursday. They are attending hearings because the Office Municipal d\u2019Habitation de Montr\u00e9al (OMHM) is trying to evict resident Danny Palladini. Several tenants,\u2026","rel":"","context":"In "Island Report"","block_context":{"text":"Island Report","link":"https:\/\/traceyarial.com\/blog\/en\/category\/canada\/island-report\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1592,"url":"https:\/\/traceyarial.com\/blog\/en\/mark_renzoni\/","url_meta":{"origin":1874,"position":3},"title":"Steady as she goes","author":"Tracey Arial","date":"May 7, 2013","format":false,"excerpt":"Stable markets, continued low interest rates and strong capital markets will offset possible slow-downs in residential construction and jobs in the coming year for a cautiously optimistic overlook overall. \u201cThere\u2019s going to be a steady real estate market for all of Canada, especially for the major markets of Vancouver, Calgary\u2026","rel":"","context":"In "Canada"","block_context":{"text":"Canada","link":"https:\/\/traceyarial.com\/blog\/en\/category\/canada\/"},"img":{"alt_text":"COO of CBRE","src":"https:\/\/i0.wp.com\/traceyarial.com\/blog\/wp-content\/uploads\/Renzoni.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2203,"url":"https:\/\/traceyarial.com\/blog\/en\/copyright-wars\/","url_meta":{"origin":1874,"position":4},"title":"Copyright: A Boring Word has Become a War","author":"Tracey Arial","date":"June 18, 2013","format":false,"excerpt":"Years ago, a guide for Canadian writers called copyright \u201cthe most boring word in the English language.\u201d The authors were trying to make the point that writers and other creators must understand copyright because it determines how much value our work has, but that the rules about it were cut\u2026","rel":"","context":"In "Journalism"","block_context":{"text":"Journalism","link":"https:\/\/traceyarial.com\/blog\/en\/category\/writing\/notable-nonfiction\/journalism\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15882,"url":"https:\/\/traceyarial.com\/blog\/en\/social-housing-struggle\/","url_meta":{"origin":1874,"position":5},"title":"The struggle to create safe clean social housing in Quebec","author":"Tracey Arial","date":"February 3, 2018","format":false,"excerpt":"Four years ago, Verdun borough mayor Jean-Fran\u00e7ois Parenteau agreed to build social housing on a municipally-owned lot on Gaetan Laberge instead of a larger project containing both condos and social housing. 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