COMOX, BC, May 29, 2018 – Comox Valley-based RealStream Income Properties LP has added another two properties to its portfolio, now valued at approximately $50 million. The latest acquisitions are located in Courtenay at 730 Grant Avenue and 961 England Avenue respectively. 730 Grant Avenue is home to the BC Employment and Assistance Office, Shared Services BC and RDH Building Science. 961 England Avenue is home to the Comox Valley Health Unit which is operated by the Vancouver Island Health Authority.
RealStream was founded in 2014 by Jim Stewart, Richard DeLuca and Jonathan Veale to allow local residents the opportunity to invest in a predominantly Vancouver Island portfolio of income-producing properties. Nine of its 10 properties are located on Vancouver Island – four are in the Comox Valley, four are in Nanaimo, and the Timberline Village Shopping Centre is in Campbell River. The other RealStream property is located in Kamloops.
“The $50 million mark is an exciting milestone for RealStream,” said acquisition team lead and co-founder, Jim Stewart. “In less than four years, we have acquired 10 properties with approximately 210,000 square feet of total building area, 471,200 square feet in total land area, and 31 commercial tenants. We are very pleased that the portfolio is currently 100 percent occupied.”
The list of RealStream investors is also growing rapidly and the company continues to outperform its targeted returns. Performance over the last year was 13.4 percent while the annual return since inception has been compounding at 11 percent.
“It’s important to note that these returns are net of our management fees,” commented RealStream co-founder, Richard DeLuca. “While past performance is no guarantee of future performance, we believe strongly that our attention to detail and our experienced management group will continue to invest wisely with an eye for both safety and growth.”
“As we grow our property portfolio at RealStream we are also growing our investment management firm and hiring more financial advisors and planners at DeLuca Veale Investment Counsel, the distributor of RealStream,” noted co-founder, Jonathan Veale. “It’s a plus for clients that progressive advisors are looking for solid real estate investments as part of their client portfolios.”
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