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Urbanimmersive Acquires Real Estate Photography Agencies EGP Technovirtuel, La Clique Mobile and Graphique ID – GlobeNewswire

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SAINT-HUBERT, Quebec, June 30, 2021 (GLOBE NEWSWIRE) — Urbanimmersive Inc. (“Urbanimmersive”, the “Company” or “UI”) (TSX VENTURE: UI) (OTCQB: UBMRF) is pleased to announce today having completed the acquisition of all of the outstanding shares of real estate photography agencies EGP Technovirtuel Inc. (“EGP”) and Graphique ID Solutions Inc. (“Graphique ID”) and all of the intangible assets of La Clique Mobile s.e.n.c. (“Clique Mobile”) for an aggregated purchase price of $3.03M, including $1.77M payable in cash immediately, $100k payable in 100 days and $1.16M payable through the immediate issuance of 6.6M shares of the Company at a price of $0.175 per share. All shares issued are subject to a four-month-and-a-day hold period until October 31, 2021, with 5.7M of the shares issued subject to 18-months lock-up period until December 31, 2022. The acquisition of those three real estate photography businesses is a first step of the accelerated growth plan announced by the Company on June 22nd.

EGP, La Clique Mobile and Graphique ID are all Urbanimmersive clients with long-standing businesses and solid reputation in both residential and commercial architectural photography services in their respective market. Those photography agencies are profitable, have generated aggregated revenues of $1.6M for their last fiscal year, during a historical low inventory period of homes for sale, and serve together more than 5,000 real estate agents across Canada.

With EGP acquisition, Urbanimmersive will also be adding to its technological solutions portfolio a DSLR camera HDR trigger remote app developed and owned by EGP. This propriety capture app enables the standardization of photo-shooting processes and image quality amongst large teams of photographers. The app also connects to photography Business Solution Software for real time and offline synchronizations of service orders and photographer schedules. EGP app will be offered under Urbanimmersive’s brand and integrated to the Company’s business SaaS solution and 3D tour Capture App making it one of the most complete real estate photography capture mobile app on the market. For clarity, EGP and UI blended capture app would enable photographers to shoot high quality still pictures using a DSLR professional camera, create 3D tours using 360 cameras, upload visual content on cloud while being able to manage orders and schedules on the field.

Besides its extended photography service business, EGP also offers through monthly subscriptions customized agent websites generating recurring revenues for which Urbanimmersive intends to integrate and expands with its Tourbuzz property website solution.

Over the years, Graphic ID photography service activities have gradually shifted from residential to commercial photography services which will enable Urbanimmersive direct connections with commercial brokerage agencies where the Company’s 3D tour technology standout with its floor plan large space capabilities. Graphic ID is a Urbanimmersive’s client since 2009. La Clique Mobile offers premium photography services to a large network of real estate customers and Urbanimmersive’ client since 2016.

“Those first three real estate photography agency acquisitions demonstrate our capacity to deliver on our new accelerated growth plan and bringing businesses that are performing well even during low inventory of houses for sale. They are perfectly positioning us to achieve profitable growth and accelerate adoption of our 3D technology SaaS solutions. We’re also acquiring talented photography business owners and staff that will immediately empower our market expertise, product development and customer experience”, said Ghislain Lemire, President and CEO of Urbanimmersive.

TSX Venture Exchange has not reviewed this press release and has neither approved nor disapproved the contents of this press release.

About Urbanimmersive

Urbanimmersive is a SaaS business management solution that provides mission-critical solutions to visual content providers serving the real estate residential, commercial, construction, and local business markets. Urbanimmersive’ platform helps customers to increase operational productivity and delivering the full potential of visual content creations through leading-edge websites builder tool, AI-backed image indexing, robust file transfer systems, and interactive visual technology solutions. The firm’s core technology is a 3D emulator powered by a visual content recognition post-production algorithm that delivers online and offline alternatives to traditional 3D engines for the creation of immersive digital environments. Learn more at urbanimmersive.com.

Caution of Forward-Looking Statements

Certain statements in this news release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature. These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management estimates or opinions change.

For more information, please contact:

Urbanimmersive
Ghislain Lemire
President & CEO
514-394-7820 X 202
ghislainlemire@urbanimmersive.com

Simon Bédard, CA, CPA, CFA, MBA
Chief Financial Officer
514 394-7820 X 224
simonbedard@urbanimmersive.com

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Could Montreal be Canada’s next real estate investor favourite? – Montreal Gazette

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Expect demand to surge when international travel opens up again.

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It looks like the real estate buying frenzy may finally be starting to calm down a little. While homes in Montreal are still selling much more quickly than they used to in pre-COVID days — in June more than twice as fast, on average, compared to last year — real estate brokers, especially those outside of the city, say they are not seeing the same intensity of competition among buyers as they did a few months ago. The pace of growth in sales and prices also seems to be slowing down.

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It’s not just Montreal. The annual Engel & Völkers Mid-Year Canadian Luxury Real Estate Market Report, released late last month, described a “wave of market normalization” in major cities across the country following an unprecedented growth in sales over $1 million in the first half of the year.

Sales of luxury homes in Montreal increased 134 per cent year-over-year from January to June. Yet in May and June, new listings in Montreal were getting fewer visits and offers than earlier in the year, the report noted. While bidding wars were still fairly common, the competition was more likely to be among just a few buyers, not dozens.

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According to real estate broker Patrice Groleau of Engel & Völkers Montreal, competition for properties in the outer suburbs appears to be decreasing as more homes come on the market, but he said demand for high-end properties in the city remains strong because there is so little supply.

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Patrice Groleau, owner of real-estate agency McGill Immobilier.
Patrice Groleau, owner of real-estate agency McGill Immobilier. Photo by Pierre Obendrauf /Montreal Gazette files

“It’s going to be a soft landing for the entry-level real estate,” Groleau said. “The luxury segment still has a lot of momentum going on.”

While the pandemic spurred many Montrealers to make drastic lifestyle changes such as moving from the city to a bigger home in the country or buying a second home in cottage country, with vaccination rates rising and reopening well underway, Groleau said it’s becoming trendy again to buy a place in the city.

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“People took permanent decisions in a temporary situation,” Groleau said. “It was easier to go out (of the city) but coming back in is going to be harder.”

In the Quebec Professional Association of Real Estate Brokers’ most recent quarterly market update, analysts pointed to the same trend and noted that the price acceleration seen in the past year in Montreal is not sustainable long-term.

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Director of Market Analysis Charles Brant said that affordability issues due to mortgage rate increases, market-calming measures implemented by governments, and changing spending habits as the COVID crisis eases are likely to result in a decline in sales levels by the end of the year.

“Even though records were still being set in the second quarter of 2021, the pace of sales growth has slowed,” Brant said.

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The reprieve may only be temporary, however, thanks to pent-up demand for Canadian real estate from international buyers shut out of the market due to COVID-19 restrictions.

Because international borders have been closed since the beginning of the pandemic, the Engel & Völkers report predicts that when international travel resumes, there will be a new surge in interest from foreign buyers looking at Canada’s metropolitan areas — particularly in Vancouver and Montreal. With a relatively low supply of luxury properties available in both cities, a new wave of international buyers could “significantly strain the market,” the brokerage’s report noted.

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It is Montreal that is pegged to be Canada’s next investor favourite. Prices are still much lower than Vancouver and Toronto, and the city is also on the cusp of a boom in development, the report notes, with an estimated 60,000 new construction projects expected to enter the market over the next three years.

While some international buyers are purchasing vacation homes or properties they can rent out, most in Montreal are buying a home to live in, whether for themselves or their adult children, Groleau said. Even if they do not intend to remain in Canada permanently, because Canadian homeowners do not pay capital gains tax when they sell their primary residence, real estate is a practical investment for those who can afford it.

“If you have money and you’ve come here, you’re comparing the price tag to London, to Paris, and so on. (Montreal) is still way more affordable than most major cities around the world,” Groleau said.

  1. This Beaconsfield home was recently listed at $985,000.

    Here’s what $1 million will get you in the Montreal real estate market right now

  2. This renovated and restored mansion in Westmount is listed at $11,750,000.

    Montreal luxury real estate sales see triple-digit growth

  3. A for sale sign on a residential property in Montreal.

    Home price increases may be winding down in Montreal market, Royal LePage says

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Recent Commercial Real Estate Transactions – The New York Times

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Recent commercial real estate transactions in New York.

The building at 266 Wyckoff Avenue, left, and one at 242 Jefferson Street were sold together. 
Bestreich Realty Group

$2.9 MILLION

266 Wyckoff Avenue (between Linden Street and Gates Avenue)

242 Jefferson Street (between Knickerbocker and Wilson Avenues)

Brooklyn

These two buildings in the Bushwick neighborhood total 8,543 square feet and were sold as a package in July. The one at 266 Wyckoff Avenue was built in 1920 and has four one-bedroom apartments, one two-bedroom apartment and a retail space occupied by a deli. The one at 242 Jefferson Street was built in 1931 and comprises six two-bedroom apartments, five of which are rent-stabilized. Both properties are three stories and were last sold in 1994.

Buyer: Joseph Jemal

Seller: Maria Coniglio

Brokers: Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila and Sean Mashihi of Bestreich Realty Group

Google Maps

$100/SQ. FT.

$120,000 approximate annual rent

119 Fifth Avenue (at Sterling Place)

Brooklyn

The restaurant Harlem Shake signed a 10-year lease for 1,200 square feet in this 3,200-square-foot building in Park Slope as its second location. Harlem Shake will share the building, which was built in 1920, with M&C E-Bike II, a bicycle repair shop. The property also includes an occupied three-bedroom apartment above the restaurant.

Tenant: Harlem Shake

Tenant’s brokers: David Yablon of Katz & Associates and Sherry Naquin Sanchez and Spencer Bowman of Resolut RE

Landlord: 119 Park Slope

Landlord’s broker: Meyer Dagmy of Alpha Acquisitions Realty

B6 Real Estate

$14 MILLION

8 East 41st Street (between Fifth and Madison Avenues)

Manhattan

Built in 1921, this eight-story, 15,550-square-foot building in Midtown contains five floors of office space, two floors of salon space and a retail space at ground level. Two of the office spaces are occupied, and a hair salon is on the second floor and a spa on the third floor. The building was last sold in 2000.

Seller: 41st Street Levy

Brokers: Brock Emmetsberger, Zachary Redding and Cameron Stafford of B6 Real Estate and Nancy Cibrano of N Cibrano Realty

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Canadian Real Estate Just Made The First Back-To-Back GDP Drop In Over A Year – Better Dwelling

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Canadian Real Estate Just Made The First Back-To-Back GDP Drop In Over A Year  Better Dwelling



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