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Subversive Real Estate Acquisition REIT LP Announces Automatic Extension of Permitted Timeline – Canada NewsWire

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TORONTO, Jan. 4, 2021 /CNW/ – SUBVERSIVE REAL ESTATE ACQUISITION REIT LP (NEO: SVX.U) (“SVX” or the “REIT“) announced today that it has executed a confidential definitive agreement in connection with a potential transaction, which would, if consummated, qualify as SVX’s qualifying transaction. Accordingly, the REIT will be permitted until April 8, 2021 (15 months following the closing of its initial public offering) to conclude its qualifying transaction.

The confidential definitive agreement is subject to a number of conditions, including, among others, due diligence conditions. The REIT intends to disclose additional details regarding the confidential definitive agreement following the satisfaction of certain of such conditions.

About Subversive Real Estate Acquisition REIT LP

Subversive Real Estate Acquisition REIT LP is a limited partnership established under the Limited Partnerships Act (Ontario) formed for the purpose of effecting, directly or indirectly, an acquisition of one or more businesses or assets, by way of a merger, amalgamation, arrangement, equity exchange, asset acquisition, equity purchase, reorganization, or any other similar business combination involving the REIT LP that will qualify as its qualifying transaction for the purposes of the rules of the Exchange. The REIT LP is a special purpose acquisition corporation for the purposes of the rules of the Neo Exchange Inc.

Additional information is located at www.subversivecapital.com/reit.

Forward–Looking Statements

This press release may contain forward–looking information within the meaning of applicable securities legislation, which reflects the REIT’s and its general partners’ current expectations regarding future events, including with respect to its qualifying transaction. 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 REIT’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward–looking information. The REIT does not undertake any obligation to update such forward–looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Subversive Real Estate Acquisition REIT LP

For further information: INVESTORS: Subversive Real Estate Acquisition REIT LP, [email protected]; MEDIA: Subversive Real Estate Acquisition REIT LP, Berrin Noorata, [email protected]

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LACKIE: Toronto real estate defying all conceivable expectations amid pandemic – Toronto Sun

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Article content continued

It was a perfect storm.

By the end of 2020, rental transactions in Toronto were down 20% from the year before. Average rent, down 5% across the GTA, fell a full 15% in the downtown core alone.

Notwithstanding the broader social and economic concerns of this moment we’re in, it is finally a good time to be an apartment hunter.

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Now, prospective tenants considering a move have options — units without thoughtful floor plans, outdoor space, a great view and daytime sun will languish. So would-be landlords are doing all they can to sweeten the deal — everything from signing incentives to rent rebates, to free parking, cable and Wi-Fi — anything to be competitive.

The question is then, how low can it go and how much longer can we expect this to last?

Given that the current state of things is a direct result of the fallout of the pandemic economy, it’s a safe bet that recovery will depend on how long it takes for life to return to some semblance of normal.

Simply put: this is a COVID problem – not a standalone crisis of the rental market. Once vaccines are widely distributed, universities and workplaces reopen, and Toronto reclaims its position as a hub for business, culture, and nightlife, it is a certainty that things will stabilize. And when it does, we will be reminded of the looming crisis we were bracing for prior to the pandemic — a housing supply falling well behind keeping pace with population growth and new immigration.

@brynnlackie

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With the real estate market still growing, here's how to invest this year – Financial Post

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This article was created by StackCommerce. While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned.

Investing in real estate has always been considered a smart move, and with so many Canadians in search of better housing thanks to the pandemic, the moment is right to strike. RBC estimates home resales in Canada increased by 13 per cent last year and predicts sales will hit an even higher level in 2021. Clearly, there is money to be made, but understanding the real estate market requires skill and know-how.

Every good investor takes time to study their intended market before making a move. Investing in a home for your entire family is considerably different from nailing down the perfect time for buying a building to flip when the demand is high. If you have ever considered purchasing an investment property, you’ve probably struggled with deciding which type of home is the right one to pour your money into. Not to mention all the other important questions you’ll need to answer for an endeavour as big as this one.

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'Enamoured with the Hammer': Toronto real estate agent rhymes about downtown Hamilton loft – TheSpec.com

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The career trajectory of Arty Basinski is a somewhat head-spinning affair. First he was a musician, writing his own songs and playing in bands. This didn’t pay the bills, though, so he went into real estate.

Early in his newfound profession, after struggling for a few months, he had a breakthrough — why not advertise the properties using the power of song?

The plan worked. Now, Basinski’s listings go viral online on a semi-regular basis, thanks to the music videos he makes for his clients.

First it was “Lil Yellow House,” a duet he performed with the owner of a semi-detached bungalow in Toronto’s east end. The video amassed over 66,000 views on YouTube and the house sold for just under asking price within a week.

His latest work is a promotional video for a mixed-use building in downtown Hamilton, which includes two apartments above a recently-abandoned vape store.

In “Loft Mi Casa,” which had just over 1,000 views on YouTube as of Jan. 22, Basinski makes the case for buying real estate in Hamilton.

www.LoftMiCasa.com for all the details on this Hamilton Storefront Property

It opens with a shot of Basinski standing before the Toronto skyline, CN Tower in the distance, evidently down on his luck. A man in a leopard-print onesie kicks him in the stomach for slapstick effect.

“Leaving T.O., I’ve got nothing left to give. The bills are piling up, I can’t afford to live,” he tells us.

So off he goes to Hamilton, westbound along the QEW, to the land of cheaper real estate.

“I’m enamoured with the Hammer,” the Torontonian rhymes. “Luxury condos are advertising; watch construction from your patio — quite mesmerizing.”

Basinski’s musical background has been a boon for his real estate career. “I’ve wanted to do this for a long time, being a musician myself,” he told The Spectator. “Oddly enough, I didn’t make it as a musician, but the real estate game turned me back into one, I guess.”

He composes most of the music himself with help from his clients, many of whom have musical hobbies. The chorus in “Loft Mi Casa” — seemingly salsa-inspired, impressively catchy — was recorded in his client’s home studio. The client sings the hook.

When he’s not selling property or rapping about it, Basinski is part of a roving circus act. He drums, he juggles, he spins sticks lit on fire and he walks around on stilts — sometimes all at once.

His novel approach to advertising lends itself to commercial property especially, which can take between six months and a year to sell, he said. “It takes so long to sell commercial storefronts, so you have to keep the property at the forefront of people’s minds. You have to come up with new ways to get people to remember these properties.”

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In addition to two apartments and storefront, the Loft Mi Casa building, at 17 John St. N., includes a storage room and an outdoor patio. Its namesake loft boasts a 25-foot-high ceiling and mezzanine bedroom with a walk-in closet.

A “ROI guarantee,” said Basinski. That’s return on investment.

The COVID-19 pandemic has made properties harder to sell, so Basinski has also offered a few incentives. If you find the hidden cat in the 3D walk-through posted to his website, he’ll shave off $5,000.

Jacob Lorinc

Jacob Lorinc is a Hamilton-based reporter covering business for The Spectator. The funding allows him to report on stories about education.

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