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CAPREIT Announces Release of 2021 ESG Report

June 10, 2022 By Globenewswire Tagged With: TSX:CAR.UN

TORONTO, June 10, 2022 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX:CAR.UN) announced today that it issued its third annual Environmental, Social, and Governance (“ESG”) Report providing an overview of the company’s ESG strategies, policies, and commitments, and highlighting the progress made in 2021. “Our ESG strategies reflect our understanding that… [Read More]

ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES VOTING RESULTS FROM THE 2022 ANNUAL MEETING OF UNITHOLDERS

June 10, 2022 By NewsWire Tagged With: TSX:AX.UN

WINNIPEG, MB, June 10, 2022 /CNW/ – Artis Real Estate Investment Trust (“Artis” or the “REIT”) (TSX: AX.UN) announced today the results of matters voted on at its annual meeting of unitholders held on June 9, 2022 (the “Meeting”). The total number of units represented by unitholders present in person or by proxy at the… [Read More]

Dream Impact Trust Completes $40 Million Impact Debenture Offering

June 10, 2022 By Business Wire

This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO–(BUSINESS WIRE)–DREAM IMPACT TRUST (TSX: MPCT.UN) (“Dream Impact“, “we“, “our” or the “Trust“) announced today the closing of its previously-announced public offering of $40 million aggregate principal amount of 5.75% convertible impact unsecured subordinated debentures of the Trust due December 31, 2027 (the “Debentures”) at a price of $1,000 per Debenture (the “Offering”). The Debentures are convertible, at the option of the holder, into units of Dream Impact (“Units”) at a conversion price of $8.00 per Unit representing a conversion rate of 125.0000 Units per $1,000 principal amount of Debentures. The Debentures were sold to a syndicate of underwriters led by TD Securities Inc. and Scotiabank on a bought deal basis. In addition, Dream Impact has granted the underwriters an over-allotment option to purchase up to an additional $6 million aggregate principal amount of Debentures at the same price, which can be exercised in whole or in part at any time for a period of 30 days following the closing of the Offering.

The Debentures will trade on the Toronto Stock Exchange under the symbol “MPCT.DB.A”.

The net proceeds from the Debentures are intended to be used for expenditures associated with eligible impact investments in accordance with the Trust’s Impact Financing Framework, released in 2021, as amended on May 30, 2022. Prior to the allocation of the net proceeds of the Offering, the net proceeds may be initially utilized, in part or in full, for repayments of certain of the Trust’s credit facilities, and ultimately will be allocated to finance, in whole or in part, expenditures associated with eligible impact investments in accordance with the Trust’s Impact Financing Framework.

The press release does not constitute an offer to sell securities, nor is it a solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation is unlawful. This press release is not an offer of securities for sale in the United States (“U.S.”). The securities being offered and the Units issuable upon the conversion, redemption of maturity of the Debentures have not been and will not be registered under the US Securities Act of 1933, as amended, and accordingly are not being offered for sale and may not be offered, sold or delivered directly or indirectly within the U.S., its possessions and other areas subject to its jurisdiction or to, or for the account or for the benefit of a U.S. person, except pursuant to an exemption from the registration requirements of that Act.

About Dream Impact

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.

Forward-Looking Information

This press release may contain forward-looking information within the meaning of applicable securities legislation. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “would”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release may include, among other things, the intended use of proceeds from the Offering, the repayment of certain of the Trust’s credit facilities and the financing, in whole or in part, of expenditures associated with eligible impact investments in accordance with the Trust’s Impact Financing Framework. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Trust’s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: risks associated with unexpected or ongoing geopolitical events, including disputes between nations, terrorism or other acts of violence, and international sanctions; the disruption of free movement of goods and services across jurisdictions; the risk of adverse global market, economic and political condition s and health crises, including the impact of the novel coronavirus (COVID-19 and variants thereof) pandemic on the Trust; risks inherent in the real estate industry; risks relating to investment in development projects; impact investing strategy risk; risks relating to geographic concentration; risks inherent in investments in real estate, mortgages and other loans and development and investment holdings; credit risk and counterparty risk; competition risks; environmental and climate change risks; risks relating to access to capital; interest rate risk; the risk of changes in governmental laws and regulations; tax risks; foreign exchange risk; acquisitions risk; and leasing risks. Our objectives and forward-looking statements are based on certain assumptions with respect to each of our markets, including that the general economy remains stable; the gradual recovery and growth of the general economy continues over 2022; that no unforeseen changes in the legislative and operating framework for our business will occur; that there will be no material change to environmental regulations that may adversely impact our business; that we will meet our future objectives, priorities and growth targets; that we receive the licenses, permits or approvals necessary in connection with our projects; that we will have access to adequate capital to fund our future projects, plans and any potential acquisitions; that we are able to identify high quality investment opportunities and find suitable partners with which to enter into joint ventures or partnerships; that we do not incur any material environmental liabilities; interest rates remain stable; there will not be a material change in foreign exchange rates; that the impact of the current economic climate and global financial conditions on our operations will remain consistent with our current expectations; our expectations regarding the impact of the COVID-19 pandemic and government measures to contain it; our expectation regarding ongoing remote working arrangements; and competition for and availability of acquisitions remains consistent with the current climate. All forward-looking information in this press release speaks as of the date of this press release. The Trust does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in the Trust’s filings with securities regulators filed on the System for Electronic Document Analysis and Retrieval (www.sedar.com), including its latest annual information form and MD&A. These filings are also available at the Trust’s website at www.dreamimpacttrust.ca.

Contacts

Meaghan Peloso
Chief Financial Officer

416 365-6322

mpeloso@dream.ca

Kimberly Lefever
Director, Investor Relations

416 365-6339

klefever@dream.ca

Metrie® Announces Acquisition of Tinder Wholesale, LLC.

June 10, 2022 By Business Wire

VANCOUVER, British Columbia–(BUSINESS WIRE)–Metrie®, North America’s largest manufacturer and distributor of millwork solutions, announces that it has entered into a definitive agreement for the acquisition of certain assets of Tinder Wholesale, LLC, a two-step distributor of interior and exterior millwork in the US East.

Subject to the fulfillment of certain closing requirements, the deal is expected to close on June 20th, 2022.

About Metrie®:

For nearly 100 years, Metrie has helped people transform their homes with high-quality millwork products. The Metrie story began in 1926 as a small, family-owned and -operated business in Vancouver, B.C. Since then, Metrie’s commitment to innovative design and fine craftsmanship has helped the company expand operations to include six solid wood and MDF manufacturing facilities, plus 26 distribution centers in the U.S. and Canada. Metrie has grown over the last nine decades to become the largest MDF moulding manufacturer in North America. For more information, please visit www.Metrie.com or visit us on social media: LinkedIn, Facebook, Instagram, Twitter, Pinterest, YouTube and Houzz.

Contacts

Jonathan Anthony, Director, Corp. Communications | Jonathan.Anthony@metrie.com | 604-374-3240

Tricon Launches Market-Leading Down Payment Assistance Program, Expands Environmental Sustainability Initiatives and Releases ESG Report

June 10, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–Tricon Residential Inc. (“Tricon” or the “Company”) (NYSE: TCN, TSX: TCN), an owner and operator of single-family rental homes and multi-family rental apartments in the United States and Canada, provided an update today on its Environmental, Social, and Governance (“ESG”) initiatives. The Company is pleased to announce the upcoming launch of a down payment assistance program for its residents and progress on several key environmental sustainability initiatives. Tricon also released its annual ESG report, a comprehensive review of the Company’s progress towards its ESG commitments in five key priority areas: Our People, Our Residents, Our Impact, Our Governance, and Our Innovation.

“As a leader in single-family rental and a people-first company, we believe it is our duty to be a good corporate citizen and a responsible housing provider,” said Gary Berman, President & CEO of Tricon Residential. “We understand a house is not just a building or an asset, but a home. Tricon’s new industry-leading resident down payment assistance program delivers on our promise of putting our residents first and making home ownership more accessible for those who want to a buy a home. We believe housing is a continuum and that families should have viable options to rent or buy single-family homes.”

“I am also proud to share our progress on a range of environmental sustainability initiatives that are taking our ESG program to new heights, along with a comprehensive account of our 2021 performance in our annual ESG report,” Mr. Berman added. “With this year’s ESG report, we have taken a meaningful step towards expanding our ESG disclosures and metrics to better reflect the extent of our far-reaching ESG program.”

Tricon’s Market-leading Down Payment Assistance Program

Tricon is committed to providing housing options to its residents, including the ability to rent or own a home. Tricon’s market-leading down payment assistance program is a key component of Tricon Vantage, a set of tools and resources to help Tricon’s residents achieve their financial goals and enhance their long-term economic stability.

Under the program, Tricon’s single-family rental residents can qualify for assistance of $5,000 towards a down payment to buy a home of their choice, provided they have been residents of Tricon in good standing for at least five years. The program will be available to qualifying existing residents starting in the fourth quarter of 2022 and will be retroactive to the date of first move-in.

Environmental Sustainability Initiatives

Tricon is pleased to report progress on several sustainability initiatives that demonstrate a clear and dedicated action plan to create a positive long-term impact on the environment:

  • Completed energy efficiency upgrades on 70% of the single-family rental portfolio
  • Deploying rooftop solar across 1,175 newly constructed homes
  • Piloting a Net Zero single-family rental community
  • Targeting LEED Gold certification across 90% of Canadian multi-family portfolio

Details of these initiatives include:

  • Sustainable Renovation Practices: Tricon focuses on a number of high impact sustainability priorities when renovating or turning each home, including: (i) assessing and replacing major mechanical systems with energy-efficient alternatives, including ENERGY STAR®-certified home appliances and energy-efficient HVAC and hot water systems, (ii) installing low-flow faucets and toilets to reduce water consumption, (iii) installing smart thermostats to allow our residents to better control energy use from the heating/cooling of their homes, and (iv) installing natural and eco-friendly materials to reduce the environmental impact of renovation activities. As of year-end 2021, Tricon has installed new appliances, HVAC systems and/or water heaters in over 20,000 homes, representing approximately 70% of its single-family rental portfolio. The combined impact of these renovations results in an estimated annual savings of over 43.5 MWh of energy and nearly 2.0 million gallons of water.
  • Rooftop Solar Deployment: Tricon currently has 1,175 homes slated for construction in six build-to-rent communities throughout California that will be equipped with solar power. Upon completion, these homes will have the capacity to generate a combined 4.5 MW of clean renewable solar energy and are projected to offset 100% of a resident’s average home electricity consumption, resulting in a reduction of approximately 6,570 tons in carbon dioxide emissions per year. In addition, Tricon is piloting solar energy upgrades on select existing homes in the Southwestern U.S. and anticipates expanding this program to several hundred homes over the next year.
  • Net Zero Pilot: Tricon is working in conjunction with a subsidiary of Highland Homes, HHS Residential, its largest build-to-rent partner in Texas, to design a Net Zero pilot community. This community features homes that will generate a below-zero Home Energy Rating System (HERS) Index rating, meaning the homes will be able to generate more energy than they consume over the course of a typical year, resulting in excess clean energy which can be made available for other uses such as electric vehicles and/or contribution to the power grid.
  • Canadian Multi-Family LEED Certification: In Toronto, Tricon’s growing multi-family portfolio of ~4,800 suites under operation or development represents one of the most sustainable, large-scale residential development programs in North America. Over 90% of Tricon’s current development pipeline, encompassing more than 3.9 million square feet of residential space, is targeted to achieve LEED Gold certification. Tricon also proudly supports the Toronto Green Standards (TGS) program, Toronto’s sustainable design performance requirements for new developments. Over 50% of the entire portfolio is meeting or exceeding TGS Tier 2 certification requirements.

2021 ESG Report

Tricon today released its 2021 ESG report. Highlights include:

Our People

  • Certified as a Great Place to Work® for the second year in a row through multiple programs that support employee well-being and engagement.
  • Supported employee career goals and professional development through the launch of Tricon Academy, which enabled over 10,000 hours of leadership and technical skills training.
  • Developed a Diversity, Inclusion and Belonging (“DIB”) Roadmap and formed a DIB Council to create an inclusive and respectful workplace culture, champion employee action, and measure impact.
  • Hired 511 new employees in 2021, of which 61% identified as Black, Indigenous and people of color (BIPOC) and 39% identified as female.

Our Residents

  • Introduced Tricon Vantage, a market-leading program aimed at providing Tricon’s residents with tools and resources to set financial goals and enhance their long-term economic stability. This includes a resident down payment assistance program, which provides qualifying residents with down payment assistance to buy a home.
  • Continued to deliver an exceptional resident experience, reflected in Tricon’s 4.5-star Google rating and record-low resident turnover rate of 19.7% in 2021.

Our Impact

  • Invested over $68 million in energy efficiency measures, covering nearly 70% of Tricon’s single-family rental homes.
  • Launched a pilot study for net-zero homes, including solar power installations, insulation upgrades, and electric vehicle charging stations.
  • Targeting LEED Gold certification across 90% of the current Canadian multi-family development portfolio, representing nearly 3.9 million square feet of residential space.

Our Governance

  • Reached the Board of Directors gender diversity standards of 30% Club Canada.
  • Signed onto the BlackNorth CEO initiative pledge, joining Canada’s largest businesses in this united commitment to counter systemic anti-Black racism, and met our public commitment to fostering leadership diversity.
  • Completed inaugural GRESB submission and became a signatory to the United Nations-supported Principles for Responsible Investment.

Our Innovation

  • Launched proprietary Innovation Lab at Tricon’s operational headquarters, focused on turning emerging technologies and resident insights into new service offerings and operational improvements.
  • Expanded Intelligent Virtual Agent (IVA) technology to facilitate maintenance requests as well as leasing activities at Tricon’s centralized call center.
  • Expanded TriPOD, Tricon’s proprietary customer relationship management platform, to the multi-family portfolio to enhance service delivery and operational efficiency.

Additional details about Tricon’s ESG goals and progress, and our 2021 ESG Report, can be found in the Sustainability section of Tricon’s website at www.triconresidential.com.

About Tricon Residential Inc.

Tricon Residential Inc. is an owner and operator of a growing portfolio of approximately 39,000 single-family rental homes and multi-family rental apartments in the United States and Canada with a primary focus on the U.S. Sun Belt. Our commitment to enriching the lives of our residents and local communities underpins Tricon’s culture and business philosophy. We strive to continuously improve the resident experience through our technology-enabled operating platform and innovative approach to rental housing. At Tricon Residential, we imagine a world where housing unlocks life’s potential. For more information, visit www.triconresidential.com.

*  *  *

This news release contains information regarding expected future initiatives and outcomes which reflect the Company’s current expectations and intentions but are subject to change. It also contains environmental performance metrics derived from publicly available information which the Company believes to be accurate but has not independently verified.

Resident qualification for the down payment assistance program and the details of their participation are subject to further terms and conditions established by the Company.

Contacts

Investors

Wissam Francis

EVP & Chief Financial Officer

Wojtek Nowak

Managing Director, Capital Markets

Email: investorsupport@triconresidential.com

Media

Tara Tucker

Vice President, Communications

Email: ttucker@triconresidential.com

FLAGSHIP COMMUNITIES REAL ESTATE INVESTMENT TRUST ANNOUNCES NEW CANADIAN DOLLAR LISTING ON TORONTO STOCK EXCHANGE

June 10, 2022 By NewsWire Tagged With: TSX:MHC.U

TORONTO, June 9, 2022 /CNW/ – Flagship Communities Real Estate Investment Trust (TSX: MHC.U) (OTCQX: FLGMF) (the “REIT”) announced today the introduction of a Canadian dollar listing of its trust units on the Toronto Stock Exchange (“TSX”). Effective June 13, 2022, the trust units will commence trading on the TSX in Canadian dollars under the symbol… [Read More]

RESAAS Partners with EPYPE to Launch Direct-to-Customer Sales Channel for RESAAS Agents

June 9, 2022 By NewsWire Tagged With: TSX VENTURE:RSS

Personalized Video Delivery Platform Enters the Real Estate Industry with RESAAS VANCOUVER, BC, June 9, 2022 /CNW/ – RESAAS Services Inc. (TSXV: RSS) (OTCQB: RSASF), (“RESAAS”), a technology platform for the real estate industry, today announced a partnership with EPYPE, a leading video delivery and engagement platform, to provide RESAAS Real Estate Agents with lead generation… [Read More]

BTB Announces its Distribution for the Month of June 2022

June 9, 2022 By NewsWire Tagged With: TSX:BTB.UN

MONTRÉAL, June 9, 2022 /CNW Telbec/ – BTB Real Estate Investment Trust (TSX: BTB.UN) (“BTB” or the “REIT“) announced today that the monthly cash distribution for the month of June 2022 is $0.025 per unit, representing $0.30 per unit on an annualized basis. The cash distribution will be paid on July 15th, 2022, to unitholders… [Read More]

NexLiving Communities announces senior leadership change and results of the annual and special meeting of shareholders

June 9, 2022 By NewsWire Tagged With: TSX VENTURE:NXLV

HALIFAX, NS, June 9, 2022 /CNW Telbec/ – (TSXV: NXLV) â€“ NexLiving Communities Inc. (“NexLiving” or the “Company”) announced today that its shareholders voted in favour of all items of business brought before them at the Company’s annual and special meeting of shareholders held on June 8, 2022. Following the meeting, Mr. Michael Anaka has transitioned from his… [Read More]

Vicinity Energy Recognized for Industry Growth by the International District Energy Association

June 9, 2022 By Business Wire

International District Energy Association recognizes Vicinity’s growth in servicing buildings in Boston, Cambridge, and Baltimore

TORONTO–(BUSINESS WIRE)–#BOSpoli—Vicinity Energy has been recognized by the International District Energy Association (IDEA) for the growth of its services in Baltimore, Boston, and Cambridge.


The annual award highlights industry growth, recognizing the district energy systems with the largest total number of buildings and building area in square feet committed or recommitted to district energy service by IDEA member systems. In the “Number of Buildings Committed” category, Vicinity’s Boston-Cambridge system received the Gold award, and its Baltimore system received the Bronze award. The company was also recognized for “Total Building Area Committed,” with its Boston and Cambridge system and Baltimore system winning the Silver and Bronze awards, respectively.

With a commitment to achieve net zero carbon emissions by 2050, Vicinity is actively working towards electrifying its district energy systems in Boston and Cambridge, with its other districts to follow.

The company’s multi-pronged decarbonization and electrification plan includes the installation of innovative technologies such as electric boilers, industrial-scale heat pumps, and thermal batteries. As a key part of this strategy, Vicinity Energy announced the launch of eSteam™, the first-ever carbon-free energy product powered by renewable energy.

“We are honored to be recognized by the IDEA community and value the trust that our long-term and new customers have in our teams. We are excited about the opportunity to continue district energy’s long history of innovation to propel our cities towards a clean energy future,” said Brian Mueller, chief development officer for Vicinity Energy. “We are especially thrilled that the decarbonization efforts we are making at our central facility in Cambridge, Mass. will immediately affect all the buildings we serve in lowering carbon emissions in our neighborhoods and cities.”

To read more about Vicinity’s district energy systems and its commitment to innovation and the environment, click here.

About Vicinity Energy

Vicinity Energy is a clean energy company that owns and operates the nation’s most extensive portfolio of district energy systems. Vicinity produces and distributes reliable, clean steam, hot water, and chilled water to over 230 million square feet of building space nationwide. Vicinity is committed to achieving net zero carbon across its portfolio by 2050. Vicinity continuously invests in its infrastructure and the latest technologies to accelerate the transition and rapidly decarbonize commercial and institutional buildings in city centers. For more information about Vicinity’s Clean Energy Future commitment, visit www.vicinityenergy.us.

Contacts

Media
Sara DeMille

Senior Director of Marketing and Communications

857 557 7838

media@vicinityenergy.us

Real Matters Announces Renewal of Normal Course Issuer Bid

June 9, 2022 By Business Wire

TORONTO–(BUSINESS WIRE)–Real Matters Inc. (“Real Matters” or the “Company”) (TSX: REAL) today announced that it has received approval from the Toronto Stock Exchange (“TSX”) to renew its Normal Course Issuer Bid for a 12-month period commencing June 13, 2022 and ending June 12, 2023 (the “NCIB”). Under the NCIB, the Company may purchase for cancellation up to 6 million common shares in its capital (being approximately 8.5% of the 70,176,108 common shares in the public float as at May 31, 2021) for an aggregate purchase price not to exceed C$40 million.

The Company believes that, at times, the prevailing share price for its common shares does not reflect its underlying value such that the purchase of common shares for cancellation represents an attractive opportunity to return value to the Company’s common shareholders.

As at May 31, 2022, the Company had 75,331,445 common shares issued and outstanding. Subject to certain prescribed exceptions, daily purchases under the NCIB will be limited to a maximum of 99,319 common shares, which is 25% of the average daily trading volume of the Company’s common shares for the six months ended May 31, 2022 (being 397,279 common shares).

Real Matters previously approved NCIB (the “Current NCIB”) commenced on June 11, 2021 and will expire on June 10, 2022, or such earlier date as the Company has acquired 7,648,999 common shares or spent C$70 million. Since commencement of the Current NCIB, Real Matters has purchased for cancellation 7,167,856 common shares through the facilities of the TSX and alternative Canadian trading systems at a weighted average price of C$8.98. Since the inception of the Company’s first NCIB on June 11, 2018, the Company has acquired a total of 19,196,965 common shares at a weighted average price of C$10.68.

Purchases under the NCIB will continue to be made through the facilities of the TSX and alternative Canadian trading systems at the prevailing market price at the time of acquisition. The actual number of common shares purchased by the Company under the NCIB and the timing of such purchases will be determined by the Company. All common shares purchased by the Company will be cancelled.

The Company has entered into an automatic share purchase plan (the “Plan”) with National Bank Financial Inc. to allow for the purchase of common shares under the NCIB at times when the Company would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any purchases made under the Plan will be based on a pre-arranged set of criteria determined by the Company.

FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including statements relating to the Company’s belief regarding the intrinsic value of its common shares. Words such as “could”, “forecast”, “target”, “may”, “will”, “would”, “expect”, “anticipate”, “estimate”, “intend”, “plan”, “seek”, “believe”, “likely” and “predict” and variations of such words and similar expressions are intended to identify such forward-looking information, although not all forward-looking information contains these identifying words.

The forward-looking information in this press release includes statements which reflect the current expectations of management based on information currently available to management. Although the Company believes that these expectations are reasonable, these statements by their nature involve risks and uncertainties and should not be read as a guarantee of the occurrence or timing of any future events, performance or results. A comprehensive discussion of the factors which could cause results or events to differ from current expectations can be found in the “Risk Factors” section of our Annual Information Form for the year ended September 30, 2021, which is available on SEDAR at www.sedar.com.

Readers are cautioned not to place undue reliance on the forward-looking information, which reflect our expectations only as of the date of this press release. Except as required by law, we do not undertake to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

About Real Matters

Real Matters is a leading network management services provider for the mortgage lending and insurance industries. Real Matters’ platform combines its proprietary technology and network management capabilities with tens of thousands of independent qualified field professionals to create an efficient marketplace for the provision of mortgage lending and insurance industry services. Our clients include top 100 mortgage lenders in the U.S. and some of the largest insurance companies in North America. We are a leading independent provider of residential real estate appraisals to the mortgage market and a leading independent provider of title and mortgage closing services in the U.S. Headquartered in Markham (ON), Real Matters has principal offices in Buffalo (NY) and Middletown (RI). Real Matters is listed on the Toronto Stock Exchange under the symbol REAL. For more information, visit www.realmatters.com.

Contacts

For more information:
Lyne Beauregard

Vice President, Investor Relations and Corporate Communications

Real Matters

lbeauregard@realmatters.com
416.994.5930

Nearly half of Torontonians are renovating instead of moving due to real estate prices

June 9, 2022 By Business Wire

– From overconfidence bias to the effects of the real estate market, new data from Billdr reveals Toronto homeowners’ renovation realities, including sentiments. –

TORONTO–(BUSINESS WIRE)–Today, Billdr, a home renovation digital platform that supports homeowners with their renovation journey from start to finish, released new data revealing how Toronto homeowners are tackling renovations. Billdr commissioned Potloc to survey Toronto homeowners (93 per cent) and soon-to-be homeowners (7 per cent). The survey found that two out of five respondents (39 per cent) have renovated rather than moved because prices on the real estate market were too high, and one out of five homeowners are drawing on their home equity as a primary source of renovation financing (22 per cent), an increasing trend seen across Canada.

“These insights are not surprising. We’re seeing more homeowners choosing to stay put, invest in their homes, and avoid moving when the market is unstable,” said Bertrand Nembot, CEO of Billdr. “Affordability is a major concern for Canadians right now, whether it’s the recent inflation battles, continued supply chain issues, or the ongoing rise of lending rates. Finding a new home that suits all your needs is becoming increasingly difficult in today’s real estate market, and renovating is one way to avoid that struggle.”

Gathered in April 2022, the study received responses from 300 individuals in the Toronto area. The data focuses on Torontonians’ reasons for renovating their home, preference for renovating over moving, their level of confidence in navigating the renovation process, how stressful they find the renovation process, and more.

The effect of the real estate market on renovations

As the market continues to remain volatile with prices still higher than in years past and limited supply available, Torontonians are carefully considering their options. While four out of ten respondents renovated because prices on the real estate market are too high, 48 per cent amongst 35-54-year-olds, other reasons to choose renovations over moving include:

  • Over half (58 per cent) are likely to invest in renovating a fixer-upper to create their dream home.
  • One in five (23 per cent) chose to renovate instead of buy because moving is stressful.
  • One in ten (11 per cent) renovate because they find there is a lack of supply in the real estate market.

Overconfidence bias and renovations

The renovation process is complicated, tedious, and full of endless options when it comes to contractors, vendors, cosmetic choices, and beyond. However, those who have yet to do a renovation experience an overconfidence bias, with three out of five respondents (64 per cent) feeling very or fairly confident. This confidence increases amongst men while decreasing with groups that have previously completed a renovation:

  • Men are more likely to say they are quite confident before completing a renovation than women (50 per cent male vs. 37 per cent female).
  • Meanwhile, those who have already completed a renovation project are less confident with one out of seven (13 per cent) saying they are not very confident about undertaking this process.

Beauty is pain: the stressful side of renovations

Home renovations are identified as one of the most stressful life events people can go through, with nearly three-quarters (69 per cent) of respondents expressing that they experienced stress when completing renovations. Renovating is a lengthy process that inevitably can induce stress:

  • Three out of five respondents (60 per cent) found it difficult to find a qualified and trusted contractor.
  • Over a third of respondents (37 per cent) with previous renovation experience would renovate again but with the right experts. This increases amongst women (42 per cent).
  • For those who have completed a renovation, they found managing their project during construction (37 per cent) and finding a general contractor (28 per cent) to be the most stressful aspects of their renovation.
  • Over a quarter of respondents (27 per cent) who completed renovations in the last year found the process quite stressful.

“Homeowners need support. There is a steep learning curve when renovating a home, and without doing your due diligence, much can go wrong,” said Raphael Sammut, General Manager at Billdr. “From defining the scope of work and finding a trusted contractor to understanding where your money is going, the renovation process has many moving pieces. We’re here to make the whole process seamless and ensure homeowners don’t have to pay out of pocket to learn things the hard way.”

Billdr pairs homeowners with an in-house project manager to take on the most stressful aspects of a renovation. Alleviating key pain points, the project manager works with homeowners to translate their vision into a detailed scope of work, helps them navigate design and permitting, gathers bids from Billdr’s network of vetted contractors, and provides status updates throughout construction. Billdr is turning renovation nightmares into a homeowner’s dream.

Visit billdr.co to learn more.

About Billdr

Billdr’s mission is to make home renovations simple, transparent, and efficient for everyone. Billdr is an online market network that supports homeowners and general contractors throughout the entire home renovation process. The marketplace platform assigns a dedicated project manager that guides and supports homeowners step by step throughout their home renovation journey. Billdr covers all stages of the renovation process, from the detailed definition of the project, development and review of architectural and engineering plans, cost estimates, selection of a certified general contractor, and project management during construction until the completion of the work. For more information, visit https://billdr.co.

Contacts

Media Contact
Kayla Ciaschi

Talk Shop Media Account Director

Kayla@talkshopmedia.com

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