Addy is switching gears with its latest investment opportunity in Alberta.
The Vancouver-based real estate investing platform, which launched in BC in 2020, dropped its first Alberta project last year.
The timing was good: As the province’s key hubs Calgary and Edmonton grappled with Canada’s highest rates of office vacancy, addy collaborated with regional developers to convert office space into residential units.
In addition to other Calgary projects, such as The Isaac in Inglewood and the Harrison Marda Loop in Calgary, addy has hosted events in the area, such as a January Meetup at Aroma Cafe with company cofounder Stephen Jagger.
Jagger and co. have been optimistic about Calgary’s residential real estate market from a landlord’s perspective since launching in the region—but now with its latest opportunity in Alberta, the B.C. fintech is going from residential to industrial.
The company’s latest investment opportunity involves buying a 35,000-square-foot industrial building on a 1.6 acre plot in Calgary with plans to upgrade and renovate the site before leasing it out.
The Astra Block Industrial opportunity posits a 15% internal rate of return or 94% total return on investment over a five-year period. So far, nearly 300 Canadians have invested an average of more than $500 each.
Since launching its first investment opportunity in 2020, addy has enabled tens of thousands of Canadians to invest in dozens of properties—representing more than 100,000 transactions with a total asset value north of $700 million, according to Michael Stephenson, who cofounded the fintech alongside Jagger in 2018.
In 2023, the platform opened up to all Canadians for the first time.
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