/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./
Starting Today, Qualified BC Residents Can Invest In A Commercial Property Located In The Fraser Valley
VANCOUVER, B.C., Aug. 11, 2020 /CNW/ - addy, a Vancouver-based proptech start-up on a mission to enable every human to be a homeowner, today launched its next real estate investment opportunity in Chilliwack, BC located at 45604 Airport Road whose tenant is Starbucks. The company is offering 520,000 units in the property valued at $1 each to enable British Columbian residents to get a foothold into real estate investing. The smallest investment amount available is $1 and the maximum is $1,500. Units will be available for purchase until the offering sells out.
"We're pleased to offer our members the ability to invest in a commercial property that would otherwise be out of reach for most people without large sums of cash," said Michael Stephenson, CEO of addy. "This property provides a unique investment opportunity to own part of a newly built drive-thru Starbucks at a highly trafficked intersection in the City of Chilliwack, BC."
Own a Piece of the Fraser Valley 45604 Airport Road, Chilliwack, BC is a commercial investment property with a drive-thru currently tenanted to Starbucks. The site is comprised of approximately 2,100+ square feet of building area and experiences high exposure to vehicular traffic with counts of over 38,000 vehicles per day. It is located on the southwest corner of Airport Road and Yale Road, in the central region of Chilliwack, one of BC's fastest-growing communities.
"The tenant (Starbucks) has solid financial strength, the building has a great location and a well-designed and very functional drive-thru, there is a good return in terms of cash flow, with contractual rent steps that go up every year," said Steve Evans, addy board member and President of Sunstone Realty Advisors and Co-Founder and former CEO of Pure Industrial Real Estate Trust and Pure Multi-Family REIT LP. "The asset has a triple net or carefree-lease and given the COVID 19 pandemic, we are getting it at a very good cap rate. Plus, Chilliwack is an affordable market compared to Vancouver and it is growing quickly – businesses like the new Molson Brewery are driving job creation in the area further strengthening the economic outlook for the city."
Click here for more information on the Chilliwack property and to review due diligence documents.
How addy works Property purchase decisions are made collectively by addy's executive team, investment committee, and Board of Directors. Once identified, the property is broken out into investment increments valued at $1. For example, a $1M property is divided up into 1M shares; and shares in the property will be available to qualified members on addy's platform. Investors can decide how much they want to invest.
About addy addy Technology Corporation ("addy") is a proptech company on a mission to enable every human to become a homeowner. The Company enables Canadians to invest in real estate for as little as $1. addy was founded in 2018 by a team of real estate and technology entrepreneurs and is headquartered in Vancouver, BC. To learn more, visit: addyinvest.com and join the @addyinvest community on Facebook, Twitter, YouTube, LinkedIn, and Instagram. Tune in to The addy Podcast on iTunes and Spotify.
Disclaimer The information provided herein is for informational purposes only. It does not constitute or form any part of any offer or invitation or other solicitation or recommendation to purchase any securities. It should not be considered financial or professional advice. You should consult with a professional to determine what may be best for your individual needs.
Forward-Looking Statements This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "intention", "will", "may", "can", and similar expressions are intended to identify forward-looking statements. Although addy believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since addy can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and addy does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
SOURCE addy Technology Corporation
For further information: Media Contact, Madeleine Davidson, [email protected], 1 (833) 462-9888