• Sign up for the Daily Digest Email!
  • Twitter
  • Facebook
  • Google Plus One
  • RSS

REIT REPORT

REIT news, Real Estate Investment Trusts, Canadian REIT News, REIT Stocks Canada

  • Home
  • Headlines
  • Daily Digest Email
  • Canadian REITs

StorageVault Partners with the Toronto Blue Jays

June 14, 2023 By Globenewswire Tagged With: TSX:SVI

TORONTO, June 14, 2023 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX) is proud to announce that it has been named the Official Self Storage and Portable Storage Provider of the Toronto Blue Jays.  The self storage brands of Access Storage, Sentinel Storage and Depotium Mini Entrepot will all benefit from this partnership. Additionally, the… [Read More]

InterRent Announces Voting Results from the 2023 Annual Meeting

June 14, 2023 By Business Wire

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

OTTAWA, Ontario–(BUSINESS WIRE)–InterRent Real Estate Investment Trust (TSX-IIP.UN) (the “REIT”) is pleased to announce the voting results from its 2023 Annual Meeting (the “Meeting”) of unitholders held on June 12, 2023. Each of the matters voted upon at the Meeting is discussed in detail in the REIT’s management information circular dated May 8, 2023 (the “Information Circular”) and is available on the REIT’s website at www.interrentreit.com/MIC2023. A total of 110,328,230 units representing approximately 75.68% of the REIT’s issued and outstanding units were voted in person and by proxy in connection with the Meeting. The voting results for each matter presented at the Meeting are provided below:

1. Election of Trustees

The following nominees listed in the Information Circular were elected as trustees of the REIT until the next annual meeting of the unitholders or until their successors are elected or appointed, and the voting results are as follows:

Nominee

Votes in Favour

Percentage of

Votes Cast

in Favour

Votes Withheld

Votes Withheld

as a Percentage

of Votes Cast

Paul Amirault

101,545,007

93.008%

7,633,567

6.992%

Jean-Louis Bellemare

107,676,345

98.624%

1,502,229

1.376%

Brad Cutsey

107,921,234

98.848%

1,257,340

1.152%

Judy Hendriks

103,249,495

94.569%

5,929,079

5.431%

John Jussup

88,032,251

80.631%

21,146,323

19.369%

Ronald Leslie

103,357,325

94.668%

5,821,249

5.332%

Mike McGahan

95,116,599

87.120%

14,061,975

12.880%

Cheryl Pangborn

108,230,383

99.132%

948,191

0.868%

Meghann O’Hara-Fraser

108,422,042

99.307%

756,532

0.693%

2. Election of Trustees of InterRent Trust

The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as trustees of InterRent Trust, until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for the InterRent Trust are as follows:

Votes in Favour

Percentage of

Votes Cast

Votes Against

Votes Against as a

Percentage of

Votes Cast

97,173,539

89.004%

12,005,035

10.996 %

3. Election of Directors of InterRent Holdings General Partner Limited

The trustees of the REIT were authorized to elect the nominees listed in the Information Circular as directors of InterRent Holdings General Partner Limited (“GP”), until the next annual meeting of the unitholders or until their successors are elected or appointed. The voting results for the GP are as follows:

Votes in Favour

Percentage of

Votes Cast

Votes Against

Votes Against as a

Percentage of

Votes Cast

97,052,324

88.893%

12,126,250

11.107 %

4. Appointment of Auditors

RSM Canada LLP, Chartered Professional Accountants, were re-appointed as auditors of the REIT until the next annual meeting of the unitholders at remuneration to be fixed by the trustees, and the voting results are as follows:

Votes in Favour

Percentage of

Votes Cast

Votes Withheld

Votes Withheld as a

Percentage of

Votes Cast

103,821,269

94.963%

5,506,961

5.037 %

About InterRent

InterRent REIT is a growth-oriented real estate investment trust engaged in increasing Unitholder value and creating a growing and sustainable distribution through the acquisition and ownership of multi-residential properties.

InterRent’s strategy is to expand its portfolio primarily within markets that have exhibited stable market vacancies, sufficient suites available to attain the critical mass necessary to implement an efficient portfolio management structure and, offer opportunities for accretive acquisitions.

InterRent’s primary objectives are to use the proven industry experience of the Trustees, Management and Operational Team to: (i) grow both funds from operations per Unit and net asset value per Unit through investments in a diversified portfolio of multi-residential properties; (ii) to provide Unitholders with sustainable and growing cash distributions, payable monthly; and (iii) to maintain a conservative payout ratio and balance sheet.

The TSX has not reviewed and does not accept responsibility

for the adequacy or accuracy of this release.

Contacts

For further information:
Investor Relations

investorinfo@interrentreit.com
www.interrentreit.com

Riocan Real Estate Investment Trust Announces Results of Voting at Its Annual and Special Meeting

June 13, 2023 By Globenewswire Tagged With: TSX:REI.UN

TORONTO, June 13, 2023 (GLOBE NEWSWIRE) — RioCan Real Estate Investment Trust (“RioCan” or the “Trust”) (TSX: REI.UN) today announced the results of the votes held at its June 13, 2023 annual and special meeting of unitholders (the “Meeting”). The total number of units represented by unitholders present in person or by proxy at the… [Read More]

Zenbase is Now Working With Equifax to Offer Automated Rent Reporting and Support Landlord ESG Initiatives

June 13, 2023 By Business Wire

Monthly rent payment data to be reported to Equifax Canada to help renters build credit history

CALGARY, Alberta–(BUSINESS WIRE)–#financialhealth–Zenbase now offers property owners and operators rent reporting to help improve the financial health of their residents and increase their operational predictability through improved payment rates. By reporting rental data to Equifax Canada, Zenbase is helping Canadians build their credit history. With over three million Canadians being considered “credit invisible” and another seven million having “thin” credit files, contributing rental data to the credit data ecosystem creates a significant opportunity to support the “Social” in ESG by helping these Canadians improve their financial well-being.

With deep accounting integrations across the multi-family space, Zenbase is proud to offer the first of its kind landlord-verified rent reporting in Canada that’s completely automated.

Zenbase is a no-lift solution for the landlords. As soon as landlords enable Zenbase for their preferred property management system, residents can sign up and give consent for their payments to be reported. The entire process of monitoring and reporting is handled by Zenbase and it requires zero investment for the landlords.

“Most renters are getting zero acknowledgment in their credit score for paying their biggest monthly expense and we are changing that,” explained Koray Can Oztekin, CEO and Founder of Zenbase. “With our landlord partners we are turning rent reporting into a standard for rent payments which is a key part of our vision to provide equitable financial access for everyone by creating a financial identity and stability toward financial health.”

“Data can be a force for good, and Equifax is hyper-focused on finding alternative sources of data that can help ensure every Canadian has access to the credit they deserve,” said Sandy Kyriakatos, Chief Data Officer for Equifax Canada. “We are so pleased to be working with Zenbase to benefit Canadian renters, who are often underserved by traditional credit. Canadians who rent their homes are often paying more than they would pay for a mortgage, but don’t get credit for consistently making those payments. When this data is reported to us, it helps build a person’s credit history, which can mean more equitable access to credit.”

About Zenbase

Zenbase, a leader in rewarding and flexible rent payments, is committed to economic inclusion that fosters financial empowerment for renters. Our solutions improve the financial wellness of renters while improving operational efficiency for property managers. Rent is usually due on the 1st of the month but that doesn’t align with most people’s bi-monthly pay cycle. We’ve fixed that misalignment and provide other financial tools like rent reporting. For more information, visit myzenbase.com.

About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

Contacts

Zenbase Press Contact:
Philipp Postrehovsky

philipp@myzenbase.com
604-657-2775

Equifax Canada Press Contact
Equifax Canada Media Relations

MediaRelationsCanada@equifax.com

Allied Announces Conversion to an Open-End Trust

June 12, 2023 By Globenewswire Tagged With: TSX:AP.UN

TORONTO, June 12, 2023 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”) (TSX:AP.UN) announced today that it has completed its conversion from a “closed-end” trust to an “open-end” trust. Unitholders approved the conversion of Allied to an open-end trust and certain amendments to the declaration of trust of Allied (the “Declaration of Trust”)… [Read More]

Northview Fund announces recapitalization transaction including the acquisition of three portfolios for $742 million and its intention to transform into Northview Residential REIT, a $2.7 billion, internally managed, traditional open-ended real estate investment trust focused on national multi-family properties

June 12, 2023 By Globenewswire Tagged With: TSX: NHF-UN

Highlights Northview will acquire over 3,300 multi-family suites and 119,000 commercial square feet for $742 million in exchange for Northview Fund units, exchangeable units and redeemable units at an issue price of $15.06 per unit and the assumption of in-place financing Northview Residential REIT’s portfolio will consist of 14,622 multi-family suites and execusuites and 1.25… [Read More]

Dream Unlimited Corp. Announces Dream Investor Day and Voting Results of Annual Meeting of Shareholders

June 12, 2023 By Business Wire

TORONTO–(BUSINESS WIRE)–DREAM UNLIMITED CORP. (TSX: DRM) (“Dream”) is pleased to announce that on Wednesday, September 6, 2023, Dream Unlimited Corp., Dream Office REIT and Dream Impact Trust are welcoming investors for a joint investor session. The event will be hosted at our head office at 30 Adelaide Street East, Suite 301 at 10:00 am ET. This session will discuss each company’s net asset value, capital allocation strategy and business plan, to provide better insight into how we view and manage the businesses.

At our annual meeting of shareholders (the “Meeting”) held today, all of the nominees for election as directors of Dream (the “Board”) referred to in its management information circular for the Meeting were elected. Votes cast on this matter were as follows:

Nominee

Votes For

% Votes For

Votes Withheld

% Votes Withheld

Michael Cooper

187,042,413

98.56

2,737,988

1.44

James Eaton

189,725,522

99.97

55,129

0.03

Joanne Ferstman

189,217,086

99.70

563,498

0.30

Richard Gateman

188,072,226

99.10

1,708,425

0.90

Jane Gavan

189,476,956

99.84

303,695

0.16

Duncan Jackman

182,504,337

96.17

7,276,314

3.83

Jennifer Lee Koss

188,214,996

99.18

1,565,655

0.82

Vincenza Sera

188,268,258

99.20

1,512,393

0.80

At the Meeting, PricewaterhouseCoopers LLP was appointed as the auditor of Dream and its subsidiaries for the ensuing year, and the Board was authorized to fix the remuneration of the auditor.

At the Meeting, shareholders approved a resolution amending Dream’s performance share unit plan to increase the number of performance share units that may be granted or credited under the plan by a further 600,000 units.

At the Meeting, shareholders approved a resolution amending Dream’s restricted share and restricted share unit plan to increase the number of restricted share units and restricted share awards that may be granted or credited under the plan by a further 800,000 units.

At the Meeting, shareholders approved a resolution amending Dream’s deferred share incentive plan to increase the number of deferred share units and income deferred share units that may be granted or credited under the plan by a further 65,000 units.

About Dream Unlimited Corp.

Dream is a leading developer of exceptional office and residential assets in Toronto, owns stabilized income generating assets in both Canada and the U.S., and has an established and successful asset management business, inclusive of $24 billion of assets under management across four Toronto Stock Exchange listed trusts, our private asset management business and numerous partnerships. We also develop land and residential assets in Western Canada. Dream expects to generate more recurring income in the future as its urban development properties are completed and held for the long term. Dream has a proven track record for being innovative and for our ability to source, structure and execute on compelling investment opportunities. For more information please visit our website at www.dream.ca.

Contacts

For further information, please contact:

Dream Unlimited Corp.

Deb Starkman

Chief Financial Officer

(416) 365-4124

dstarkman@dream.ca

Kim Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca

Dream Office REIT Announces Dream Investor Day and Voting Results of Annual and Special Meeting of Unitholders

June 9, 2023 By Business Wire

TORONTO–(BUSINESS WIRE)–DREAM OFFICE REAL ESTATE INVESTMENT TRUST (TSX:D.UN) (“Dream Office REIT” or the “REIT”) is pleased to announce that on Wednesday, September 6, 2023, Dream Unlimited Corp., Dream Office REIT and Dream Impact Trust are welcoming investors for a joint investor session. The event will be hosted at our head office at 30 Adelaide Street East, Suite 301 at 10:00 am ET. This session will discuss each company’s net asset value, capital allocation strategy and business plan, to provide better insight into how we view and manage the businesses.

At our annual and special meeting of unitholders (the “Meeting”) held today, all of the nominees for election as trustees of the REIT (the “Trustees”) referred to in its management information circular for the Meeting (the “Circular”) were elected. Votes cast on this matter were as follows:

Nominee

 

Votes For

 

% Votes

For

 

Votes

Withheld

 

% Votes

Withheld

Amar Bhalla

 

32,877,524

 

99.36

 

212,209

 

0.64

Donald Charter

 

32,075,626

 

96.94

 

1,014,107

 

3.06

Michael Cooper

 

30,852,700

 

93.24

 

2,237,033

 

6.76

P. Jane Gavan

 

29,871,332

 

90.27

 

3,218,401

 

9.73

Dr. Kellie Leitch

 

32,877,356

 

99.36

 

212,377

 

0.64

Karine MacIndoe

 

32,877,893

 

99.36

 

211,840

 

0.64

Qi Tang

 

32,910,105

 

99.46

 

179,628

 

0.54

At the Meeting, PricewaterhouseCoopers LLP was appointed auditor of the REIT and its subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor.

At the Meeting, a special resolution approving certain amendments to the Declaration of Trust of the REIT intended to provide the Trustees and the REIT’s subsidiaries with greater flexibility, in accordance with market practice, in respect of financing transactions requiring a guarantee of the REIT, to increase quorum requirements and to address other non-substantive clarifying changes, as more particularly set forth in the Circular, was approved by a requisite vote of more than 662/3% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution approving certain amendments to the Declaration of Trust of the REIT to provide that the Trustees may at any time declare an extraordinary distribution of cash, units or property of the REIT in specie, as more particularly set forth in the Circular, was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution approving certain amendments to the REIT’s deferred unit incentive plan to increase the number of deferred trust units and income deferred trust units of the REIT that may be granted or credited under the plan by a further 500,000 units (or 250,000 units if the proposed Unit Consolidation referred to below is effected), was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

At the Meeting, a resolution (the “Consolidation Resolution”) authorizing the Trustees to effect a consolidation (the “Unit Consolidation”) of (i) (a) the issued and outstanding REIT Units, Series A of the REIT on the basis of one (1) post consolidation unit for every two (2) pre-consolidation units, and (b) the issued and outstanding REIT Units, Series B of the REIT on the basis of one (1) post consolidation unit for every two (2) pre-consolidation units, if applicable, and (ii) the issued and

outstanding Special Trust Units of the REIT on the basis of one (1) post-consolidation unit for every two (2) pre-consolidation units, as more particularly described in the Circular, was approved by a requisite vote of more than 50% of the votes cast by the unitholders of the REIT.

The Consolidation Resolution was required to be approved by more than 50% of the votes cast by the unitholders entitled to vote at the Meeting. Votes cast on this matter were as follows:

 

Votes For

 

% Votes For

 

Votes Against

 

% Votes Against

 

32,959,744

 

99.31

 

228,244

 

0.69

If the board of Trustees proceeds with the Unit Consolidation, it will take effect on a date to be coordinated with the Toronto Stock Exchange and details will be announced in advance by the REIT. No further action on the part of unitholders is required in order for the board of Trustees to implement the Unit Consolidation.

About Dream Office REIT

Dream Office REIT is an unincorporated, open-ended real estate investment trust. Dream Office REIT is a premier office landlord in downtown Toronto with over 3.5 million square feet owned and managed. We have carefully curated an investment portfolio of high-quality assets in irreplaceable locations in one of the finest office markets in the world. For more information, please visit our website at www.dreamofficereit.ca.

Contacts

For further information, please contact:

Michael J. Cooper

Chairman and Chief Executive Officer

(416) 365–5145

mcooper@dream.ca

Jay Jiang

Chief Financial Officer

(416) 365-6638

jjiang@dream.ca

CAPREIT Divests $103MM in Non-Core Properties & Reinvests $74MM in New Build Properties

June 8, 2023 By Globenewswire Tagged With: TSX:CAR.UN

TORONTO, June 08, 2023 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it has closed on three dispositions of non-core properties built between 1971 and 1999 for combined consideration of $103.3 million (excluding disposition costs). CAPREIT also announced that it has reinvested a total of $74.1 million (excluding… [Read More]

Dream Impact Trust Announces Dream Investor Day and Voting Results of Annual Meeting of Unitholders

June 8, 2023 By Business Wire

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (the “Trust”) is pleased to announce that on Wednesday, September 6, 2023, Dream Unlimited Corp., Dream Office REIT and Dream Impact Trust are welcoming investors for a joint investor session. The event will be hosted at our head office at 30 Adelaide Street East, Suite 301 at 10:00 am ET. This session will discuss each company’s net asset value, capital allocation strategy and business plan, to provide better insight into how we view and manage the businesses.

At our annual meeting of unitholders (the “Meeting”) held today, all of the nominees for election as trustees of the Trust (the “Trustees”) referred to in its management information circular for the Meeting (the “Circular”) were elected. Votes cast on this matter were as follows:

Nominee

Votes For

% Votes

For

Votes

Withheld

% Votes

Withheld

Amar Bhalla

22,878,302

97.73

532,554

2.27

Dr. Catherine Brownstein

22,861,957

97.66

548,899

2.34

Robert Goodall

22,844,323

97.58

566,533

2.42

Jennifer Lee Koss

22,860,826

97.65

550,030

2.35

Karine MacIndoe

22,890,890

97.78

519,966

2.22

At the Meeting, PricewaterhouseCoopers LLP was appointed as the auditor of the Trust, Dream Impact Master LP and the Trust’s subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor.

The Trust is also pleased to announce that the unitholders approved a resolution (the “Consolidation Resolution”) authorizing the Trustees to effect a consolidation (the “Unit Consolidation”) of the issued and outstanding units of the Trust (“Units”) on the basis of one (1) post consolidation Unit for every four (4) pre-consolidation Units, as more particularly described in the Circular.

The Consolidation Resolution was required to be approved by more than 50% of the votes cast by the unitholders entitled to vote at the Meeting. Votes cast on this matter were as follows:

 

Votes For

% Votes For

Votes Against

% Votes Against

All Unitholders

21,911,144

93.57

1,504,628

6.43

If the board of Trustees proceeds with the Unit Consolidation, it will take effect on a date to be coordinated with the Toronto Stock Exchange and details will be announced in advance by the Trust. No further action on the part of unitholders is required in order for the board of Trustees to implement the Unit Consolidation.

About Dream Impact Trust

Dream Impact is an open-ended trust dedicated to impact investing. Dream Impact’s underlying portfolio is comprised of exceptional real estate assets reported under two operating segments: development and investment holdings, and recurring income, that would not be otherwise available in a public and fully transparent vehicle, managed by an experienced team with a successful track record in these areas. The objectives of Dream Impact are to create positive and lasting impacts for our stakeholders through our three impact verticals: environmental sustainability and resilience, attainable and affordable housing, and inclusive communities; while generating attractive returns for investors. For more information, please visit: www.dreamimpacttrust.ca.

Contacts

Meaghan Peloso

Chief Financial Officer

(416) 365-6322

mpeloso@dream.ca

Kim Lefever

Director, Investor Relations

(416) 365-6339

klefever@dream.ca

Dream Residential REIT Announces Voting Results of Annual Meeting of Unitholders and New Chief Executive Officer

June 7, 2023 By Business Wire

TORONTO–(BUSINESS WIRE)–DREAM RESIDENTIAL REAL ESTATE INVESTMENT TRUST (TSX:DRR.U) (“Dream Residential REIT” or the “REIT”) announced that, at its annual meeting of unitholders (the “Meeting”) held today, all of the nominees for election as trustees of the REIT (the “Trustees”) referred to in its management information circular for the Meeting were elected. Votes cast on this matter were as follows:

Nominee

Votes For

% Votes

For

Votes

Withheld

% Votes

Withheld

Leonard Abramsky

4,436,189

76.61

1,354,396

23.39

P. Jane Gavan

5,784,885

99.90

5,700

0.10

Fahad Khan

5,784,355

99.89

6,230

0.11

Brian Pauls

5,784,355

99.89

6,230

0.11

Vicky Schiff

5,785,785

99.92

4,800

0.08

At the Meeting, PricewaterhouseCoopers LLP was appointed auditor of the REIT and its subsidiaries for the ensuing year, and the Trustees were authorized to fix the remuneration of the auditor.

The REIT is pleased to announce the appointment of Mr. Brian Pauls as Chief Executive Officer of the REIT effective June 6, 2023.

About Dream Residential REIT

Dream Residential REIT is an unincorporated, open-ended real estate investment trust established and governed by the laws of the Province of Ontario. The REIT owns an initial portfolio of 16 garden-style multi-residential properties, consisting of 3,432 units primarily located in three markets across the Sunbelt and Midwest regions of the United States. For more information, please visit www.dreamresidentialreit.ca.

Contacts

Dream Residential REIT

Brian Pauls
Chief Executive Officer

(416) 365-2365

bpauls@dream.ca

Derrick Lau
Chief Financial Officer

(416) 365-2364

dlau@dream.ca

Scott Schoeman
Chief Operating Officer

(303) 519-3020

sschoeman@dream.ca

PropTech Company, Doormat, Raises $1.25 Million in Pre-Seed Funding, Revolutionizing a Critical Stage of the Homeownership Journey

June 6, 2023 By Business Wire

More than three quarters of Canadians feel that technology is necessary to improve the real estate buying and selling process in the country.

TORONTO–(BUSINESS WIRE)–Today, Doormat, Ontario’s real estate lawyer, enhancing the client experience and streamlining the legal process with advanced technology solutions, has announced it has raised $1.25M in pre-seed funding. Through this, Doormat is bringing much-needed simplicity and ease to the real estate buying and selling process in Canada. Alate Partners led the funding round, with participation from The LegalTech Fund, Erin Bury of Willful, Brandon Chu formerly of Shopify, alongside additional angel investors.

In Canada, a legal professional is an essential part of a real estate transaction, and yet, this component of the industry hasn’t kept up with the technological advancements seen in other industries. Doormat is on a mission to provide Canadian homeowners, home buyers and home sellers with a better option for their legal real estate needs. Through their online platform, Doormat brings transparency and simplicity to legal real estate services – from home buying and selling to mortgage refinancing to property ownership changes, enabling clients to feel confident and informed. With Doormat, Canadians can tackle the tedious legal tasks involved in the real estate process all from the comfort of their own home.

“When I purchased my first property, I wasn’t aware that I needed a real estate lawyer, and once I went through the lengthy process of finding one, I was confused and uncertain about the entire thing,” said Robert Saunders, CEO and Co-Founder of Doormat. “This confusion inspired the creation of Doormat, as we set out to simplify the real estate journey. By addressing the critical need for accessible legal expertise in property transactions, Doormat empowers home buyers and sellers with the confidence and assurance they deserve. With the housing market slowly experiencing a rebound, we want Canadians to have access to a real estate tool kit and Doormat is a part of that. We are igniting change, driven by a disruptive passion to redefine the way we navigate the world of real estate.”

With real estate being an ongoing hot topic for Canadians, Doormat conducted a bilingual survey hosted on the Angus Reid Forum at the end of May to poll Canadians’ sentiments on the use of technology in the real estate industry alongside Canadians’ comfort level with using a real estate lawyer online. The survey received responses from over 1,500 individuals across Canada.

The real estate industry needs more technology

The conventional methods of buying and selling property prove intricate and overwhelming. This is precisely where Doormat steps in. Now available in Ontario, Doormat’s pioneering approach seamlessly integrates innovative proptech with a personalized service, providing a comprehensive solution that simplifies real estate legal services and ensures accessibility for all.

Traditionally, the real estate market has been associated with complexity and stress. Prospective buyers and sellers often find themselves entangled in convoluted processes, paperwork, and intricate negotiations, leading to frustration and inefficiency with the vast majority of Canadians (82%) feeling that technology is necessary to improve the real estate buying and selling process in Canada.

“Doormat is re-imagining a crucial, yet often overlooked aspect of the home buying journey: the closing process. The team has the right mix of software development, real estate law, and operations expertise to bring much needed innovation to the sector,” said Courtney Cooper, Principal at Alate Partners. “We are impressed by Robert and the team’s vision as well as the support that they have already garnered from industry leaders and legal professionals. We look forward to working with Doormat to bring a better, digital-first real estate lawyer to Canadians.”

Embracing technology for comfort and convenience

Canadians have readily embraced these technological advancements, recognizing the benefits they bring to the home buying and selling experience. With the advancement of digital tools and online platforms like Doormat, individuals are now able to navigate the real estate market with greater ease and confidence. Nearly two-thirds of Canadians (63%) would be comfortable engaging with an online real estate lawyer if it would save them time and money during the home buying and selling process. This stat jumps to 71% when honing in on younger Canadians, which includes the next generation of homeowners, aged 18 to 34.

Doormat combines proptech and legal tech and has created an online solution where homeowners and homebuyers can go for their legal real estate needs. What started with a vision from a software engineer, real estate lawyer, and operations executive is now rounded out by a leading panel of investors, bringing additional expertise in the real estate, legal and tech spaces. Thanks to the strategically-selected investors, the additional capital will help Doormat grow its team and expand the company’s presence throughout Ontario and beyond, improving the overall legal real estate experience and offering greater access to tech-powered solutions.

Visit Doormat.ca to learn more.

ABOUT DOORMAT:

Doormat is Ontario’s real estate lawyer, revolutionizing a critical stage of the homeownership experience through an online personalized experience where buyers and sellers can conveniently communicate, negotiate, and complete their real estate transactions, all within a user-friendly and secure environment. Combining legal tech and proptech, Doormat is evolving the untapped real estate lawyer industry and is dedicated to simplifying the real estate transaction process, starting in Ontario. Through its online platform, Doormat is bringing much-needed simplicity and ease to a complex process and is building a better way to do real estate. To learn more, visit Doormat.ca.

Contacts

MEDIA
Taylor McKibbon

Talk Shop Media

+1 (403) 707 6300

tm@talkshopmedia.com

  • « Previous Page
  • 1
  • …
  • 120
  • 121
  • 122
  • 123
  • 124
  • …
  • 1156
  • Next Page »

Sign up for the Daily Digest Email!

Receive the latest news stories from the REIT Report every morning for FREE!

100% Privacy. No SPAM. We promise.

Daily Movers

Ticker News Price Chg Chg%
d.un:ca$14.92.7118.16%
csh.un:ca$9.340.545.78%
ax.un:ca$6.920.223.13%
kmp.un:ca$17.730.623.5%
nwh.un:ca$8.020.222.69%
mrt.un:ca$5.24-0.01-0.19%
grt.un:ca$81.72-0.11-0.13%
hot.un:ca$2.53-0.01-0.39%
fcr.un:ca$15.35-0.05-0.32%
dir.un:ca$14.22-0.41-2.87%
 

Market Snapshot

  • Advertise
  • About
  • Contact
  • Privacy Policy

Copyright © 2025 · REIT REPORT