Comox Valley-based RealStream Income Properties LP has added an eighth property to its portfolio and now stands at approximately $44 million in total asset value.
The organization’s latest acquisition – the Law Courts Annex at 488 Albert Street in Nanaimo – is home to three provincial government tenants, including the Service BC Access Centre, the Nanaimo Law Courts, and the Ministry of Children and Family Development.
“We have been pleased with the portfolio’s growth over the last few years and I think our investors have also been very happy as we have been outperforming our targeted returns,” said Jim Stewart, the head of RealStream’s acquisition team and the company’s co-founder.
The portfolio’s performance in the last year was 11.98 per cent and the annual return since inception is compounding at 11.25 percent.
Another RealStream co-founder, Richard DeLuca, says the company will continue to invest wisely in the future.
“While past performance is no guarantee of future performance, we feel strongly that our attention to detail and our experienced management group will continue to invest wisely with an eye for both safety and growth,” he said.
To make RealStream accessible to more families, the company has reduced the minimum investment from $100,000 to $50,000.
“We are excited about the success of RealStream in the first few years and we want to make this exciting investment opportunity available to more local investors,” said Jonathan Veale, the company’s third co-founder.
RealStream was founded in 2014 to allow local people the opportunity to invest in a Vancouver Island-based portfolio of income properties. Since August 2014, RealStream has acquired two properties in Courtenay, four in Nanaimo, one in Kamloops, and the Timberline Village Shopping Centre in Campbell River.
The local property company’s portfolio is currently 100 per cent occupied with 28 tenants and approximately 188,000 square feet of buildings.