RealStream acquires Courtenay property

Scott Stanfield

Record staff

Comox-based RealStream Income Properties LP has acquired another local income property for its investors – a tenanted building at 519 Fifth St. in Courtenay.

“This is another superior property that’s home to several successful local companies,” says real estate asset manager Jim Stewart, a partner in RealStream.

He notes most investors are local, meaning most of the income generated from properties is being put back in the hands of local people.

The opportunity to invest in solid, “hands off” investments managed by local professionals, says Stewart, is proving to be very compelling.

“To date, RealStream has posted strong returns, and investor interest continues to build as more people learn of the opportunity to become investors themselves. Recent declines in global stock markets have also once again reminded investors that additional diversification can be a comforting thing.”

In addition to Stewart — formerly the deputy assessor of BC Assessments’ Vancouver Island region — the RealStream management team includes Richard DeLuca and Jonathan Veale, founders of Comox-based investment management firm DeLuca Veale Investment Counsel.

“The rationale for creating RealStream was simple,” explains DeLuca. “We believe that adding investment real estate to portfolios of stocks and bonds will enhance returns and stability. The RealStream portfolio is designed to produce income and growth for individual investors wishing to collectively invest in a portfolio of properties that are managed for them.”

Importantly, adds Veale, RealStream is more than property management; it’s about portfolio management.

“Our expertise encompasses acquisitions, leasing, financing, dispositions, building improvements and much more,” says Veale. “Most people prefer not to spend the years it takes to acquire all these specialized skills when they are already available locally and affordably. DeLuca Veale clients tend to share this perspective.”

RealStream’s first acquisition, in 2014, was Timberline Village, a 30,000 sq. ft. shopping centre in Campbell River. The following year, it added its second property at 1111 Braidwood Rd. in Courtenay, home to Van Isle Veterinary Hospital. Its latest acquisition on Fifth Street is home to Mosaic Vision Care, Island Dentures, Braidwood Massage Therapy, Buckstone Investments, the Travel Medicine Clinic and the law office of Tom Finkelstein.

“Our objective is to continue to add more investors and more properties, as additional tenants and locations increase diversification while lowering the impact of individual vacancies,” says Stewart. “Spreading risk and sharing operational overhead across more properties also enhances investment performance and liquidity.”

To that end, he says, RealStream’s management team continues to scour the market for their next acquisition, and investor presentations will be running locally again soon.

 

Just Posted

WITH VIDEO: Two endangered marmots released on Mount Washington

With three new pups born in May, two more Vancouver Island Marmots… Continue reading

Comox Archives and Museum makes presentation to d’Esterre Seniors’ Centre

At its June board meeting, Comox Archives and Museum board presented an… Continue reading

Annual Denman Island pancake breakfast coming up

Local fundraiser supports many initiatives

VIDEO: Miners Memorial graveside ceremony

For 34 years, the Cumberland Museum and Archives has presented Miners Memorial,… Continue reading

Having a day in the park

A temporary transmitting station is set up in Filberg Park in Comox… Continue reading

Video shows fireworks shot at swan in Alberta

Alberta Fish and Wildlife is investigating the incident in Grande Prairie

‘Text neck’ causing bone spurs to grow from millennials’ skulls, researchers say

Technology use from early childhood causing abnormal bone growths in 41 per cent of young adults

B.C. teen killed by fallen tree on field trip remembered as hero

13-year-old Tai Caverhill was the first to spot the tree falling and warned his friends

Surrey RCMP raises Pride flag amid din of protesters

There were about 30 protesters on either side, and 20 Mounties doing crowd control

Should B.C. get rid of Daylight Saving Time?

The province wants to know, as state governments down south make the move

Air Canada reviewing how crew left sleeping passenger on parked plane

In a Facebook post, the woman said she woke up ‘all alone’ on a ‘cold dark’ aircraft

Canadians crash out of Women’s World Cup in 0-1 loss to Sweden

Canada missed a chance to tie the game on a penalty shot

Four-year-old boy assaulted at B.C. soccer game

It happened at a weekend tournament in Ashcroft

Two bear cubs saved near Revelstoke after mother hit by car

Conservation officers trapped the cubs and transported them to a wildlife sanctuary

Most Read