Kitchener Waterloo Real Estate Investment Property Information » Local Kitchener Waterloo

RED Condos in Waterloo already half sold

Benjamin Bach, KW Commercial Director — Thu, 01 Sep 2011 23:13:53 +0000

It’s been a busy day of sales for Momentum Development’s newest Waterloo project, RED Condominiums on King Street at Allen in Uptown Waterloo.

They had a VIP launch last night, and are now over half sold – after just one day!

RED Condominiums in Waterloo 1/2 Sold Out

Momentum sold more than half the units at RED.

Every unit under $300,000 sold.

Every Studio unit sold. (Pricing was between 218,900 and 241,900)

Every 1 bedroom condo sold. (Pricing was between 257,900 and 344,900)

All but one of the Sub Penthouse residences (fifth floor) sold.

One Penthouse residence sold.

There is a great selection of 1 bedroom + den units, and two bedroom units left – everything else has been sold.

Big congratulations to the team at Momentum Developments – you’ve brought another exciting project to Waterloo, and the market has responded with a resounding ‘Thanks!’

If you’re interested in floorplans, we have them available here: RED Condo Floor Plans. If the floorplan you’re looking for hasn’t been added to our site yet, just send me an email & I will send it directly to you.

For pricing information, call me at 519-772-4376 or email me directly at Benjamin AT BenjaminBach DOT com.

Momentum releases floorplans for RED Condominiums in Waterloo

Benjamin Bach, KW Commercial Director — Mon, 22 Aug 2011 14:12:13 +0000

Floorplans for RED Condominium Released

The Newest Waterloo Site from Momentum Developments - RED Condominiums – has released floorplans for their six floor mixed use development (retail on the main floor, residential condo units above), and they look good.

The Red Condominiums will be 63 units with ground level retail, and slightly larger than the42 that Momentum is building right now on Bridgeport Road. Plans call for 11 studio units, 17 1 bedroom units, 18 1 bedroom +den, 13 two bedroom units and 4 two bed + den units

Momentum Developments is the firm behind the42 and the BPR Lofts two of the hottest projects in Uptown Waterloo. BPR Lofts recently finished, and the42 is just wrapping up, with the residential condos now registered, and work just finishing up on the exterior grounds & commercial units.

Their new project – the RED Condominiums at Allen & King, across from the Bauer Lofts - has units ranging from small studio condos (from 528 sq ft) up to a roomy 1931 square foot penthouses on the sixth floor, complete with wrap around terrace.

Here, for your viewing pleasure, is the smallest floor plan, and the largest.

Which do you think will be the better investment?

and the Penthouse:

If you’re interested in the floorplans and more info on the RED Condominium project, send me an email or give me a call.

Apple Store at Conestoga Mall in Waterloo OPEN

Benjamin Bach, KW Commercial Director — Mon, 22 Aug 2011 13:16:19 +0000

All Apple Store photos are from ehmac.ca

CBC’s The National looks at the strength of Waterloo’s retail market

Last week I had the pleasure of speaking with Ron Charles from CBC’s The National about the new Apple Store opening up in Waterloo’s Conestoga Mall, and why Apple was coming to a “non major urban centre.”

As I told Ron, major retailers are tripping over each other trying to get to Waterloo- Target (see Target is coming to Waterloo’s Conestoga Mall)
, Apple, Coach, Paderno, Spring Rolls, Oliver & Bonacini, Lee Valley, Sephora have all opened recently or are coming soon – because Waterloo Region has a great demographic – we skew younger, more educated, have more disposable income and are generally more tech savvy than many other regions in Canada. And the 70,000 students at WLU, UW and Conestoga College don’t hurt either !

To get a sense of how hot the Kitchener Waterloo commercial real estate market is for retailers, just drive down Ira Needles Blvd and take a look at The Boardwalk, 1 million square feet of premium retail space – and there are new retail developments on either side of it too.

Waterloo Region is now also one of the top 10 largest urban centers in Canada, and with the announcement of the Apple store coming to Burlington, Apple will have an official store in each centre.

Source: Ehmac.ca

I do not think the Apple Store in Waterloo is a response to RIM at all – I think that is a sensational perspective that some people are trying to see, but I don’t think it’s reflected in the reality.

The CBC clip also features Avvey Peters from Communitech discussing the health & vitality of Waterloo Region’s hi-tech sector, which is expanding every day.

And for the record, I’m a BlackBerry guy.

COMING SOON: TARGET at Conestoga Mall in Waterloo

Benjamin Bach, KW Commercial Director — Sun, 21 Aug 2011 13:18:48 +0000

I wrote about this a while back, when covering the new Apple Store opening in Waterloo, but I can now officially announce what I told you:

TARGET is coming to Conestoga Mall in Waterloo

As anyone who follows Retail & Commercial Real Estate in Canada likely knows by now, Target bough Zellers for $1.82 billion, mainly for the leases it owned in prime retail locations. Zellers has a huge presence across Canada in premier malls, and it would be impossible to replicate that presence quickly, without buying a competitor.

Target will be taking the old Zellers space in the North East part of Conestoga Mall. I do not expect the second Zellers in Waterloo, on bridgeport, to become a Target, but ya never know.

Walmart will be taking some of the Zellers stores that Target will not occupy. This may include locations in Kitchener Waterloo.

What is significant is that TARGET announced that it is coming to Waterloo in its first round of store annoucnements – Kitchener Waterloo is a major market that American retailers want to be in. Just look at the new Apple Store that just opened up!

TARGET Comes To South Western Ontario

Target is moving into South Western Ontario’s Retail scene in a major way, announcing stores in Waterloo, Cambridge Centre, Masonville Mall and Westmount Mall in London, 175 Stone Road W in Guelph, at Gates of Fergus, among others.

The rest of the stores in Canada are as follows:

Alberta
•       Chinook Centre, Calgary
•       Forest Lawn Shopping Centre, Calgary
•       Market Mall, Calgary
•       Shoppes at Shawnessy, Calgary
•       Signal Hill Centre, Calgary
•       Sunridge Mall, Calgary
•       Bonnie Doon, Edmonton
•       Kingsway Garden Mall, Edmonton
•       Mill Woods Town Centre, Edmonton
•       Prairie Mall, Grande Prairie
•       Bower Place, Red Deer
•       St. Albert Centre, St. Albert
•         Sherwood Park Mall, Sherwood Park

British Columbia
•       Abbotsford Power Centre, Abbotsford
•       Metropolis at Metrotown, Burnaby
•       Discovery Harbour Shopping Centre, Campbell River
•       Cottonwood Mall, Chilliwack
•       Coquitlam Centre, Coquitlam
•       Driftwood Mall, Courtenay
•       Tamarack Mall, Cranbrook
•       Scottsdale Mall, Delta
•       Willowbrook Shopping Centre, Langley
•       Haney Place Mall, Maple Ridge
•       Nanaimo North Town Centre, Nanaimo
•       Pine Centre, Prince George
•       Oakridge Shopping Centre, Vancouver
•       Village Green Mall, Vernon
•       Tillicum Mall, Victoria

Manitoba
•       Shoppers Mall, Brandon
•       Grant Park, Winnipeg
•       Kildonan Place Shopping Centre, Winnipeg
•       Polo Park Shopping Centre, Winnipeg
•       Southdale Centre, Winnipeg

New Brunswick
• McAllister Place, Saint John

Newfoundland and Labrador
• Corner Brook, Corner Brook
• Cabot Square, St. John,s

Nova Scotia
• Bedford Place, Bedford
• Mic Mac Mall, Dartmouth

Ontario
•       Durham Centre, Ajax
•       Aurora Shopping Centre, Aurora
•       Bramalea City Centre, Brampton
•       Shoppers World Brampton, Brampton
•       Trinity Common, Brampton
•       Burlington Mall, Burlington
•       Millcroft Centre, Burlington
•       Cambridge Centre, Cambridge
•       Woodbine Centre, Etobicoke
•       Gates of Fergus, Fergus
•       175 Stone Road W., Guelph
•       Centre Mall, Hamilton
•       South Hamilton Square, Hamilton
•       Hazeldean Mall, Kanata
•       Cataraqui Town Centre, Kingston
•       Lindsay Square Mall, Lindsay
•       Masonville Place, London
•   Westmount Shopping Centre, London
•       Milton Mall Shopping Centre, Milton
•       Erin Mills Town Centre, Mississauga
•       Square One, Mississauga
•       Meadowlands Shopping Centre, Nepean
•       Upper Canada Mall, Newmarket
•       1899 Algonquin Ave., North Bay
•       Centerpoint Mall, North York
•       Orillia Square Mall, Orillia
•       Place D,Orleans, Orleans
•       Five Points Mall, Oshawa
•       Bayshore Shopping Centre, Ottawa
•       Billings Bridge Plaza, Ottawa
•       RioCan St. Laurent, Ottawa
•       Hillcrest Mall, Richmond Hill
•       Bridlewood Mall, Scarborough
•       County Fair Mall, Smiths Falls
•       Niagara Pen Centre, St. Catharines
•       Stratford Mall, Stratford
•       Sudbury Supermall, Sudbury
•       Intercity Shopping Centre, Thunder Bay
•       Cloverdale Mall, Toronto
•       Shoppers World Danforth, Toronto
•       East York Town Centre, Toronto
•       Flamborough Power Centre, Waterdown
•       Conestoga Mall, Waterloo
•       Taunton Gardens Power Centre, Whitby
•       Devonshire Mall, Windsor

Prince Edward Island
• Charlottetown Mall, Charlottetown

Quebec
•       Galeries d,Anjou, Anjou
•       Faubourg Boisbriand, Boisbriand
•       Carrefour Angrignon, Lasalle
•       Mega Centre Notre-Dame, Laval
•       Galeries Chagnon , Levis
•       Place Longueuil, Longueuil
•       Place Alexis Nihon, Montreal
•       Place Vertu, Montreal
•       Terrarium Shopping Centre, Pointe Claire
•       Les Galeries De La Capitale, Quebec City
•       Place Fleur De Lys, Quebec City
•       Place Laurier, Quebec
•       Le Carrefour Rimouski, Rimouski
•       Promenades Saint-Bruno, Saint-Bruno-de-Montarville
•       Carrefour Saint-Georges, Saint-Georges
•       Carrefour Richelieu, Saint- Jean sur-Richelieu
•       Carrefour du Nord, Saint Jerome
•       Carrefour de L,Estrie, Sherbrooke
•       Les Rivieres Shopping Centre, Trois Rivieres

Saskatchewan
• Northgate Mall, Regina
• The Centre, Saskatoon

New Construction Condos in Kitchener – City Centre & 144 Park

Benjamin Bach — Sun, 21 Nov 2010 20:49:51 +0000

How do you decide which pre-construction condos to invest in?

City Centre and 144 Park in Kitchener Waterloo

I was recently talking to a few people in one of the Wonderful Waterloo forums about the new City Centre Condos coming to downtown Kitchener – about 380 units in two towers (one with 17 floors, and a second 14 floor tower).

The topic of Investing in Condos came up, and one of the members mentioned that they had chosen to put their hard earned investment capital to work at 144 Park, a pre-construction condo being built in Waterloo.

[/caption] Curious, I asked why they prefered 144 Park over the City Centre Condos. The real estate investor replied: “There are many things at this point that makes me feel it [144 Park] is a good deal and not limited to: price per sqft. I paid $340, whereas depending on the unit at CC, they are up to $370 including parking and locker* assured it will be built by 90%+ units being sold timing. Who knows when CC will have occupancy across the street from Vincenzo’s and Bauer Kitchen the area around King & Allen is ripe for more big development in building amenities availability of bigger units proximity to Sunlife for rentability If you want a bigger town feel, City Center will be surrounded by more, but downtown is still a few years away from that. I mean more within a few steps, not a few blocks.” With Bauer Lofts next door to 144 Park, it’s already desirable. I really like that Vincenzo’s and Bauer Kitchen are across the street. I think that will appeal to a lot of people who desire condo living.” I found this perspective very interesting. I have a number of friends who have bought at City Centre in Kitchener, and a few clients who have been interested in 144 Park in Waterloo; none of them have yet bought at 144 Park. I think they’re both great projects, in premium locations. Clearly 144 Park is more upscale, but that doesn’t mean it will be a better (or worse) investment. What do you think? (PS the quote above is from someone on an internet forum. It’s not advice or fact from me, and it shouldn’t be taken as investment advice. Talk to me or another professional for individual advice for your specific situation before making a large financial decision) photo by spaceamoeba Related posts: New Construction Condos in Kitchener Waterloo Kitchener Waterloo’s Centre Block Condo Development Moving Forward Centre Block to bring $95 million development to Kitchener downtown

Kitchener Waterloo named #1 Investment Spot in Ontario by REIN, again

Benjamin Bach — Tue, 10 Aug 2010 23:29:25 +0000

Hot on the heels of last year’s report, REIN, the Real Estate Investment Network, published their report naming Kitchener, Waterloo and Cambridge Ontario the #1 place in Ontario to invest in real estate.

Why does REIN consistently rank Kitchener Waterloo #1 ?

Here are the Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate

#1 – consistently ranked as the top spot to invest in real estate in Ontario, and #2 in Canada as per REIN

#2 Low Interest Rates – It is now more affordable to borrow money, making it a great time to buy investment real estate

#3 Great Prices

For the complete article, click here: Top 9 Reasons You Should Invest in Kitchener Waterloo Real Estate or watch this video:

Related posts:

Local News looks at Why REIN named Kitchener Waterloo #1 place to invest in Ontario Last night CTV ran a story on the recent Real…
Kitchener Waterloo Real Estate ranked #1 again A client sent me a link this morning to the…
Two Waterloo Region Apartment Buildings Sell For $45+ million (…and we have many clients looking to buy big apartment buildings…
Waterloo Chronicle reports 27.4% Increase in Home Sales Great little article from this morning’s Waterloo Chronicle, if you…
Report: Waterloo Vacancy Rate Falls to 1% Canada Mortgage and Housing Corporation (CMHC) just released their Rental…
Investment Real Estate Terms: Cap Rate & Cash on Cash Return One of the questions I get a lot is “whats…
From Greece with Love How the Greek Debt Crisis directly affects Kitchener Waterloo Real…

Investment Property in Cambridge Ontario Sells for BIG Bucks

Benjamin Bach — Wed, 30 Jun 2010 15:13:05 +0000

(originally posted at Investment Property in Cambridge Ontario sells for $45+ million on June 28th)

Large Apartment Building Sold in Cambridge Ontario

Last week we looked at Two Waterloo Region Apartment Buildings that Sold For $45+ million.

Here is a video with some more information on the sale:

To recap, the investment property in Cambride, Ontario was purchased at a 5.7% cap rate.

Between both apartment buildings there are 225 units, and the average rent is above $1500 per month.

High valuation, but the properties generate premium income, are prestigious assets, and are very recent (6 years and 1 year) construction.

Kitchener Waterloo Real Estate news

Benjamin Bach — Sat, 26 Jun 2010 18:02:49 +0000

Here are some articles about Kitchener Waterloo Real Estate that were posted on our other blog this week.

An excerpt of each article is included. Click the title to read the full blog.

Google moves offices from Waterloo to Kitchener’s Tannery

Big news for downtown Kitchener: Google is moving it’s offices from Waterloo’s Tech Town (in the U of Waterloo research and technology park) to the Tannery District in downtown Kitchener.

This is great for downtown Kitchener, and will prove to be especially profitable for our clients who own investment condo’s at the Kaufman Lofts (one block adjacent) and other downtown Kitchener Condos.

Ontario Rent Increase Guideline for 2011 is pretty low

0.7% to be exact, the lowest it’s been since the government of Canada implemented guidelines around the amount that real estate investors could increase the rents in their investment property each year.

From The Record:

The guideline is the maximum amount a landlord can increase the rent of most sitting tenants without seeking approval of the Landlord and Tenant Board.

The 2011 guideline applies to rent increases that occur between January 1 and December 31, 2011.

The calculation is based on the Ontario Consumer Price Index.

New Kitchener Condo development splits local opinion

Fresh off our discussion of the new Condos, Hotel, and Commercial real estate coming toWaterloo - the Barrel Yards, here is some information about a new development going in donwtown Kitchener at 30-40 Margaret Ave.

I happen to think it’s a great addition to the area! Read the article from today’s Record, and leave a comment below!

News on the Barrel Yards Development in Waterloo, Ontario

The Record has an article in this morning’s paper about a major development underway in Waterloo, Ontario – The Barrel Yards – which will bring the Kitchener Waterloo real estate market some very high quality product over the next few years

When completed, the Barrel Yards – located at the corner of Erb Street and Father David Bauer Drive in uptown Waterloo, Ontario – will be home to a hotel, condos, rental apartments, commercial real estate (office & retail space) and townhouses

Kitchener Waterloo Earthquake!!!

There was just an earthquake in South Western Ontario, felt in Montreal, Ottawa, Toronto, New York, and here where I am, in Kitchener Waterloo. That is a rather large span. No words on aftershocks yet.

REALTORS discuss HST & Real Estate in Ontario

From The Kitchener Waterloo Real Estate Board blog:

On Thursday June 17^th, 2010, 16 leaders from Waterloo Region’s real estate industry, including REALTOR® members of the Kitchener-Waterloo Real Estate Board (KWREB), Cambridge Real Estate Board, staff, and a representative of the Waterloo Home Builder’s Association met with Ontario PC Leader Tim Hudak at KWREB’s offices to discuss how the HST will impact the real estate industry and to explore ways in which to help moderate its impact.

Two Waterloo Region Apartment Buildings Sell For $45+ million

Benjamin Bach — Sat, 12 Jun 2010 20:56:48 +0000

(…and we have many clients looking to buy big Kitchener Waterloo apartment buildings - contact us today if you have one!)

Two Waterloo Region Apartment Buildings Sell For $45+ million…

…$46,710,000 to be exact

Killam Properties has announced the purchase of 225 recently built residential units in Cambridge, in two river front apartment buildings. This is one of the largest recent Multi-Family transactions in the Kitchener Waterloo area.

“Killam has acquired 100 and 200 Eagle Street North in Cambridge, Ontario, in the Kitchener-Waterloo Region. The luxury apartment buildings are of newer concrete construction and include spacious units ranging from 1,000 to 1,400 square feet, modern features and five appliances. The buildings’ amenities include a fitness centre, guest suite, air conditioning and underground parking.

100 Eagle Street, constructed in 2008, has 119 units with 9-foot ceilings, including 3 one-bedroom units, 59 two-bedroom units and 57 two-bedroom units with a den. The average rent is $1,523 per month. 200 Eagle Street, constructed in 2004 and located directly beside 100 Eagle Street, has 106 units, including 25 one-bedroom units and 81 two-bedroom units. The average rent is $1,351 per month.

The purchase price for the two river-front properties of $46.7 million ($207,600 per suite) was satisfied with a combination of the assumption of a 20-year mortgage for $10.1 million at 5.15%, a new mortgage for $16.0 million at 4.5%, and the balance in cash.

“We are pleased to report progress on our apartment acquisition program in Ontario” noted Philip Fraser, Killam’s President and CEO. “Closing these two Cambridge assets increases Killam’s apartment ownership in Ontario to 362 luxury apartment units. We have continued our acquisition focus on newer, high quality assets. These two assets meet this standard and are among the highest quality assets in Cambridge. The cap rate on the acquisition is approximately 5.7%, reflecting the buildings’ age, location and quality of construction.”

Both the cap rate and the price per suite are rich for the region, reflecting the quality of the asset, as well as the cheap financing that REITs and other institutional investors have access to right now. (CMHC is happy to loan on Multi Family properties, as it is a secure asset class. Rents continue to come in, in both good and bad economic times.)

We have many qualified real estate investors looking to buy apartment buildings now – if you own one, contact us to arrange for a quick sale. You’ll likely be pleased with what buyers are willing to pay for a quality building!

The Globe Advisor expands on the lack of available supply of apartment buildings in Canada:

Apartment buildings - there are about 100,000 of them across Canada, with the majority of them clustered along the Windsor-Quebec City corridor – may not return as much to their investors as shopping centres or office buildings, but they offer a lower-risk way to own income-generating properties.

They held their value through the recession for one main reason – there were no distress sales because owners could refinance their debt inexpensively through Canada Mortgage and Housing Corp. This ensured them access to credit at a time when other property owners found debt markets completely closed.

And with mortgage rates almost certain to move higher in coming months, buyers are scrambling to make purchases while rates sit near all-time lows. RealNet Canada, which tracks sales, shows first-quarter sales volumes actually decreased in most of the country at a time when other commercial sectors were showing sharp signs of recovery.

It has nothing to do with a lack of confidence in the sector, but rather illustrates how reluctant sellers are to part with their income-generating properties.

“What’s happening is people who own them are quite happy and those who want to buy really have to spend a bit more than they may like,” said RealNet president George Carras. “The most dominant owner profile in the sector is the private investors, and they tend not to want to trade.”

…

“You can get money at ridiculously low rates and the big challenge is just finding quality product,” Mr. Greer said. “There is no low-balling, and when something comes around, you see a ton of interest.”

Halifax-based Killam Properties started the year with a goal to spend up to $150-million on Ontario apartment buildings, and passed the $100-million threshold with the Cambridge deal earlier this week.

Chief executive officer Philip Fraser said it has become increasingly difficult to find relatively new buildings that met the company’s criteria, and indeed there were never any “for sale” signs planted on the front lawn in Cambridge.

If you have a building, and you have thought of selling in the next ten years, I strongly reccomend we talk today; with interest rates as low as they are (but heading up fast!) you will likely get more for it today then when rates are higher.

How profitable can investing in Kitchener Waterloo Real Estate be?

Benjamin Bach — Mon, 08 Mar 2010 23:12:05 +0000

I just got this email from a client, who bought his first real estate investment property in 2008. He now owns 4 rental properties in Kitchener Waterloo, including student rentals, single family homes, and a future development site (currently rented).

Hi Ben, I hope this message finds you and Sarah well and enjoying married life.

I’m sold on the value of Real Estate investing. We are generating positive cash flow from every property plus I just received my mortgage statements from last year. My tenants paid my mortgages down by over $25,000 in one year. Not including the cash flow or appreciation.

We are proceeding to build an addition onto 1234 Cedarbrae and by Sept.1st we will have two extra rooms available to rent. I owe you the credit for that property. You saw the value when I didn’t. Now I will gain over $100k in post-construction value plus the extra cash flow will pay for the construction in less than 5 years.

I am tinkering with my properties, trying to maximize the value. The property at 1234 Weber St. was purchased as a duplex for $222,000. I am considering trying to convert this into a triplex, with three 2 bedroom units. Would you be able to give me a rough ballpark as to what the value might be post-construction? This will help me in my decision process.

Thanks in advance, Larry

For information on how Larry and his wife have built their portfolio, contact me today. I’d love to serve you the way we’ve served Larry’s family over the years (yes, we help more than one generation of his family

You know where I am – Benjamin@BenjaminBach.com or call me at 519 772 4376