Author Archive

Christina.Martino

video

VIDEO: Purpose-Built Rental Market Update – Part 1

[vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_video link=\"https://www.youtube.com/watch?v=Ba-h_lwRGrY&feature=youtu.be\" align=\"center\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text]Our team recently connected with 4 well-respected Developers to get their thoughts on the current state of the purpose-built rental market in British Columbia: Tim Grant, PCI Developments Chad Davidson, Traine Construction and Development Dale Regehr, Tannin Developments Ravi Mann, Isle of Mann Property Group In part 1 of our multi-part video series, we take the time to get to know each of these developers and what some of their notable projects are, how COVID-19 has impacted their current projects, and some thoughts on how the pandemic may change rental developments in the future. Stay tuned for part 2, coming soon![/vc_column_text][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]
Christina.Martino
August 25, 2020
video

VIDEO: B.C. Multi-Family Market Update – May 2020

[vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_video link=\"https://youtu.be/VAM4GNc_qS8\" align=\"center\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text]When the COVID-19 pandemic hit Canada, Apartment owners and investors were unsure about how the asset class would fare in the face of uncertainty. However, multi-family has proven to be the most resilient asset class across the board. Rent collection in April was as high as 97% across Canada (95% in B.C.), with May rent collections predicted to be in-line with April, thanks in part to the Government programs which have helped many renters hit hardest by this pandemic. We\'ve also spoken to a number of private and institutional investors, and the sentiment across the board has been positive in that many are still continuing to plan for future acquisitions of apartments & development land.  With steady cash-flow, record low interest rates, and financing still available for the multi-family sector, investors are going to be looking towards multi-family assets more and more as we come out of this pandemic. [/vc_column_text][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]
Christina.Martino
May 20, 2020

First National Commercial Real Estate Podcast

[vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text][/vc_column_text][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text]I recently had the exciting opportunity to participate on First National\'s Real Estate Podcast on June 16, 2020 with Aaron Cameron and Adam Powadiuk. Some of the topics we discussed include: What was transpiring in Vancouver’s real estate market in 2019 Decoupling of income and rent levels Current required price/rent for purpose-built to make sense Valuations during COVID-19 and where they are headed The strata wind-up strategy How clients are adapting to a changing insurance world What Lance sees happening over the next 60 to 120 days Lance’s rent forecasts Potential first-time home buyers in Vancouver being forced to rent New builds versus old stock The sub-market in Vancouver that Lance would invest in The bright future for Vancouver [/vc_column_text][vc_btn title=\"Listen to the Full Podcast\" color=\"green\" size=\"lg\" align=\"center\" link=\"url:http%3A%2F%2Fcommercialrealestatepodcast.com%2Flance-coulson-cbre%2F||target:%20_blank|\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]
Christina.Martino
June 19, 2020

Owning and Managing Multi-Family Rental Properties During COVID-19

[vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column width=\"5/6\"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text] Presented by Canadian Real Estate Forum With April in the review mirror, what is instore for the Multi-Residential sector over the next few weeks and months? From insights into operations, communications and management during the current Pandemic, our esteemed panel of industry executives will discuss opportunities and challenges facing the industry today. We will also ask the panel how they see a return to normal and what is the roll-out as distancing eases. We are honored to host this extremely important conversation and provide some clarity during these times.[/vc_column_text][vc_btn title=\"Click to Listen to the Recording\" color=\"peacoc\" link=\"url:https%3A%2F%2Fconsole.on24.com%2FeventRegistration%2FEventLobbyServlet%3Ftarget%3Dreg20.jsp%26referrer%3Dhttps%253A%252F%252Fwww.realestateforums.com%252Fportal%252Fen%252Fwatch%252Fwebinars.html%26eventid%3D2313414%26sessionid%3D1%26key%3DFB8FEAC7CDAB0B87282C608C8DE1CDE9%26regTag%3D%26sourcepage%3Dregister||target:%20_blank|\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]
Christina.Martino
May 13, 2020

Reopening the World’s Workplaces For Today, Tomorrow, and the Future

[vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column width=\"5/6\"][vc_column_text][/vc_column_text][vc_empty_space][vc_column_text]On May 5th, CBRE hosted experts from Johns Hopkins University, JPMorgan Chase and PGIM Real Estate for a roundtable discussion, as we continue to navigate COVID-19 and help our clients prepare for reopening their workplaces. Insights were shared on a broad range of public health, workforce and workplace topics as well as CBRE’s approach as we plan to reopen our offices around the world. The reopening process is challenging and complex. Because we are dealing with an evolving global public health situation, it demands new types of expertise, collaboration and communication—and perhaps most important—leadership in managing change. Our workplaces—and the communities they support—are inherently connected. We are all in this together, and can benefit from sharing expertise and first-hand experience.[/vc_column_text][vc_btn title=\"Click to Listen to the Recording\" color=\"peacoc\" link=\"url:https%3A%2F%2Fwww.cbre.us%2Fresearch-and-reports%2FCBRE-Expert-Roundtable-Flash-Call-May-5%23video||target:%20_blank|\"][vc_btn title=\"Click to Download Recording Summary\" color=\"green\" link=\"url:https%3A%2F%2Fwww.cbre.us%2F-%2Fmedia%2Fcbre%2Fcountryunitedstates%2Fus-research%2Fcovid-19-flash-call%2Fexpert-roundtable-flash-call-may-5%2Fmay-5-recap-key-takeaways-final.pdf%3Fla%3Den||target:%20_blank|\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]
Christina.Martino
May 11, 2020

Real Estate Marketing in a Physically Distant World

[vc_row disable_element=\"yes\"][vc_column][vc_column_text][/vc_column_text][vc_empty_space][/vc_column][/vc_row][vc_row][vc_column width=\"1/2\"][vc_column_text][/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_column_text] Adapting to the New Normal Physical distancing has become an essential component of preventative measures amidst the COVID-19 crisis, and will continue to impact our daily lives and how we conduct business for the near future. As we adapt to this new normal, our team is prepared to assist you with your long-term investment goals while keeping your health and safety in mind. Going forward, we aim to provide you with a wide variety of digital resources in order to help you make informed investment decisions. Some of the marketing tools we will be utilizing include: Property Video tours Click-Through Tours (Matterport 3D) Zoom tours 3D renderings/Animation Floor plans Virtual staging and renovations All marketing materials will be made available on a property-specific web page. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=\"15px\"][vc_column_text] Digital Marketing & Sales Process [/vc_column_text][vc_column_text][/vc_column_text][vc_empty_space height=\"25px\"][vc_column_text] Below you\'ll find detailed descriptions of each of these marketing initiatives, as well as our health & safety plan for conducting private in-person tours when the time is appropriate. [/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width=\"1/2\"][vc_empty_space][vc_column_text] Virtual Tours In an effort to minimize the number of in-person tours, virtual tours are the next best alternative. We\'ll be utilizing best-in-class technology and tools, including: Property Videos: Property videos capture the essence of a property within a short 2-3 minute time frame; allowing you to view exterior and interior features, common areas, and location highlights. When captured correctly to showcase proper dimensions and suite features, property videos can tell an all encompassing story of a property. Click here to see an example. Cick-through Tours (Matterport 3D): Matterport is a powerful 3D platform that can turn a space into an accurate and immersive digital tour. This technology enables you to \"click-through\" and essentially walk through a property at your own speed and view the space from multiple angles. Click here to see an example. Live video tours with your agent using Zoom/FaceTime: we\'ll arrange a time for the agent to head on-site to the property and walk you through the building while you view it from the comfort of your own home.[/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_empty_space height=\"15px\"][vc_column_text][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/2\"][vc_empty_space][vc_column_text][/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_empty_space height=\"15px\"][vc_column_text] 3D Renderings/Animation 3D renderings help bring concepts to life through conceptual renderings and visual effects/animation. This option is ideal for properties that are currently under development, or for future land development sites to show what can be built on the site. CBRE Build: Technicians work closely with Developers and Architects to build a virtual 3D model that turns sketches, photos, floor plans, and CAD plans into video-game like 3D rendered spaces that are easy to explore. Click here to see an example. Animation/VFX:  A number of Creative Marketing Studios utilize high-end animation and VFX programs to build 3D environments based on floor plans, architectural drawings, and/or massing plans. Our team has outsourced 3D renderings in the past to showcase potential developments, which were built-out using massing plans created by an Architectural firm. Click the image to the left to view an example 3D rendering video.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/2\"][vc_empty_space][vc_column_text] Floor Plans Floor plans are an excellent addition to any property marketing package, as they provide an accurate property overview, specifically where all units and common areas are located, how the space is configured, the property\'s square footage, and individual unit sizes. More often than not, a property owner will have building plans available. In other cases, a professional may be commissioned to measure the entire building. For an example of a recently measured building floor plan, please click the image to the right. Going forward, we will ensure floor plans are available at the onset of an offerings marketing process to complement the property video tours and photography.[/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_empty_space height=\"30px\"][vc_column_text][/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column width=\"1/2\"][vc_empty_space height=\"10px\"][vc_column_text][/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_empty_space height=\"15px\"][vc_column_text] Photography Virtual Staging & Renovations Photography and physical tours have always been a regular part of the property marketing process and has typically been well-received by existing tenants prior to COVID-19. However, for the purposes of everyone\'s health and safety, our aim is to photograph and tour through vacant suites for the immediate future. While photos of vacant suites can provide a general idea of suite size and layout, they don\'t quite paint the entire picture in the same way that a furnished photo would. Virtually staged photos allow us to showcase a suite at its highest potential and provide better context on the layout. Additionally, certain properties require upgrades and/or suite renovations. Particularly aging buildings or those that are not achieving their highest rent potential. Virtually renovated photos are an excellent tool to demonstrate how a current space can be improved and assists prospective buyers in conceptualizing the potential of a renovated suite. Click the image to the left to see examples of both virtually staged photos and virtually renovated suites.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space height=\"15px\"][/vc_column][/vc_row][vc_row][vc_column][vc_empty_space][vc_column_text] Physical Building Tours: Health & Safety Protocols Before conducting any in-person tours, we will be pre-qualifying prospective purchasers more stringently, ensuring they\'ve viewed all marketing materials and have the appropriate financing in-place. When a high level of interest is determined, we will be prepared to tour the building safely. During any in-person tours, we will ensure the following: Personnel Limits: Only 1 person per interested buying group will be allowed to tour the building at a time; Physical Distancing: Mandatory distancing protocols of 2 meters apart between the agent, interested party, and building manager; Tour Coverage: We will tour common areas, view integral building components (i.e. roof, mechanical room, etc) and if possible, vacant suites only. If no vacant suites are available, we will prepare tenants well in-advance and ensure them of the safety precautions that will be taken during the tour; Personal protective equipment (PPE): PPE will be mandatory for both the agent and the prospective purchaser, including the use of masks, gloves, and hand sanitizer. If you do not have any PPE, you will be required to notify your agent in advance so that he/she may provide you with the appropriate gear or make arrangements; No-touch viewings: All internal suite entrances/doors and in-suite storage/closet units (if applicable) will be left open prior to entry. We understand the importance of physical property tours prior to making any purchase decisions and will ensure we conduct them with everyone\'s safety as our top priority. What About When I\'m Prepared To Make an Offer? When an interested buyer is prepared to make an offer, we will be able to do so digitally by utilizing the appropriate software to prepare contracts, make changes, and gather signatures (via DocuSign for example). While there has been a lot of changes over the last 2 months as a result of the COVID-19 pandemic, our Apartment Sales team has been working diligently to adapt and to be of service to all our clients and friends in the industry. Within the last month we have been successful in putting multiple apartment deals under contract, firming up a significant land sale, and just recently we launched a new listing in New Westminster using a number of the marketing initiatives referenced above. We are starting to see a positive resurgence in the multi-family market and we\'re looking forward to seeing this increasing momentum continue forward throughout the coming year. In the meantime, stay healthy and well. We look forward to working with you soon![/vc_column_text][vc_empty_space height=\"30px\"][/vc_column][/vc_row]
Christina.Martino
April 29, 2020

Multi-family rentals remain a safe, strong harbour

[vc_row][vc_column width=\"1/2\"][vc_column_text][/vc_column_text][/vc_column][vc_column width=\"1/2\"][vc_column_text] Multi-family rentals remain a safe, strong harbour   Commercial real estate investors recognize the inherent value in multi-family rental apartment buildings Despite polarizing policies such as the foreign-home buyers tax increase, higher property taxes and caps on rental increases, the Metro Vancouver and Greater Victoria multi-family rental markets are performing surprisingly well. The two markets finished 2019 at $1.2 billion in total sales, with most of the action in the second half of the year. With positive net migration estimated at 45,000 annually, a rapidly growing tech workforce, apartment vacancy rates in the 1 per cent range and consistently higher home prices, rental apartment buildings will remain one of the safest and strongest performing commercial real asset classes in 2020 in both Vancouver and Victoria. Capitalization rates: With a lack of land and growing competition, capitalization rates for quality multi-family assets will remain in the 2.5 per cent and 3 per cent range. For larger assets with high-equity requirements or assets that require substantial capital upgrades, cap rates may experience a slight uptick. Cap rates will be lowest within the urban core. New purpose-built rental apartment buildings: With supportive government initiatives, attractive financing, accretive returns and a weakened condo market, private developers are increasingly shifting towards purpose-built rentals. Approximately 7,000 units.....continued at the link below Continue reading the article here [/vc_column_text][/vc_column][/vc_row]
Christina.Martino
March 30, 2020