Investment Opportunity. 45 Columbia St. W., Waterloo. Investment Opportunity. Investment Property Offering. Presented By:

Transcription

1 Investment Opportunity 2015 Investment Opportunity 45 Columbia St. W., Waterloo Investment Property Offering Presented By: Eric Reiner Sales Representative Coldwell Banker Peter Benninger Realty

2 PAGE 2 SECTION

3 PAGE 3 Table of Contents Waterloo Investment Property Offering 45 Columbia Street West, Waterloo, Ontario. Section 1: Biography... Page 4 Section 2: Location... Pages A Progressive City University of Waterloo Wilfrid Laurier University...7 Section 3: Profitability... Pages Property Potential Operating Performance Expense Estimates Mortgage Details...9 Section 4: Property Overview... Pages Exterior Features Interior Features...13 Section 5: Image Gallery... Pages Style Sense...15

4 PAGE 4 Your representative. Experience you can trust Eric Reiner Eric Reiner has been with Coldwell Banker Peter Benninger Realty since While with Coldwell Banker Peter Benninger Realty, Eric has specifically dealt with the development and sale of investment property, with hundreds of millions in sales, Eric Reiner has positioned himself as the market expert in multi-family development in Waterloo. Eric networks extensively with existing developers and investors both professionally and personally. Eric was the top multi-family commercial sales representative in the world for Coldwell Banker Commercial in 2010, 2011 and Eric Reiner is a licensed Real Estate Sales Representative in the province of Ontario and is a member of the Canadian Real Estate Association, Ontario Real Estate Association and the K-W Real Estate Board. Eric is an active member of the local community and is a member of the Waterloo Regional Apartment Managers Association (WRAMA). Notable Achievements 2013 Represented the seller in the largest student housing sale in Canadian History 2012 Top five sales representative in North America Number one multi-family sales representative in the world Represented the seller of a 58 million dollar student portfolio that was sold to Wilfrid Laurier University 2011 Top five sales representative in North America Number one multi-family sales representative in the world 2010 Top multi-family sales representative in the World for Coldwell Banker Commercial Represented the Buyer and Seller to acquire $15,000,000 investment property portfolio Represented the Buyer to acquire a $16,000,000 development site 2009 Top 2% of all commercial sales reps in the Coldwell Banker international network #2 sales representative in the Coldwell Banker Commercial Canada network Represented the Buyer acquiring a $1,160,000 development property. Consulted during the development process of a 7 storey $9,000,000 multi-family building and leased the building to Wilfrid Laurier University 2009 Represented the Buyer and Seller assembling the land for a $14,000,000 development 2008 Top 2% of all commercial sales reps in the Coldwell Banker international network Top Producer for Coldwell Banker Peter Benninger Realty Represented the Seller disposing of $28,750,000 multifamily investment property SECTION 1: BIOGRAPHY

5 PAGE 5 Waterloo Ontario, location second to none 2.1 A Progressive City Recognized for its ability to reinvent itself throughout history, Waterloo has evolved from a rural farming community, to an industrial city, to a telecommunications and technology powerhouse. This shift from agrarian to connected community took place over a period of less than one hundred years, with a rapid transformation taking place in the last thirty years. Most recently, the remaking of the local economy has been lead through information technology which has doubled over the past 4 years. Branded within Canada s Technology Triangle, Waterloo experiences the benefits of a smaller, well networked community, balanced with the synergies of global recognition and international opportunity. Surrounded by farmland and fresh air, the city is a modern, vigorous business and industrial community. Waterloo is small enough to enjoy the best lifestyle, while close to all the amenities of the larger metropolitan areas. It is no wonder that National Post s Business Magazine (August 2001) identified Waterloo as one of the Top 9 places in Canada to grow your business. Here you will find a highly skilled and well-trained labour force. A solid base in high technology is complemented by a strong insurance and financial services sector, plus advanced manufacturing and university-related enterprises. Waterloo ranks very high in such aspects as education, average hours worked, wage and salary rates, cost of living, responsive city government, low level of union activity and value added by manufacturing. Waterloo is a great example of how a local culture can use its historic and geographic strengths, together with the intellectual capital from great universities, and harness them to broadband for good results. JOHN G. JUNG, ICF S CO-FOUNDER AND CHAIRMAN, 2007 Investment Property: 45 Columbia St. W., Waterloo

6 PAGE 6 An investment in higher education 2.2 University of Waterloo The University of Waterloo is one of Canada s leading comprehensive universities, with strong teaching and research programs in six faculties: applied health sciences, arts, engineering, environment, mathematics, and science. Waterloo has a well-earned reputation for combining academic excellence with real-world relevance. Technology transfer is a way of life at the University of Waterloo, where the bond forged between academia and the private sector has become an inherent part of the university s culture. The capabilities that we boast with two world-class universities and a widely respected applied arts college means businesses around the globe take a special interest in our community. There are many years when Waterloo is the university that has the most people at MicroSoft of any in the world BILL GATES, MICROSOFT OCTOBER 2005 Source: By Giligone via Wikimedia Commons University of Waterloo at a Glance 1000 acre campus Over 30,000 full and part-time students 613 part-time graduate students The world s first and largest post secondary cooperative education program Canada s largest Faculty of Mathematics and the biggest Faculty of Engineering Generates $1.1 billion in economic activity in the Waterloo Region Generates $1.6 billion in economic activity province-wide Ranked in top 3 for comprehensive universities in Canada for high quality, innovation and reputation by MACLEANS MAGAZINE for 17 years in a row SECTION 24: INTELLIGENCE

7 PAGE Wilfrid Laurier University: Wilfrid Laurier University is a small but mighty university. It has an internationally recognized Business and Economics School, as well as a broad range of arts and science programs. Wilfrid Laurier University is devoted to excellence in learning, research, scholarship and creativity. It challenges people to become engaged and aware citizens of an increasingly complex world. It fulfills its mission by advancing knowledge, supporting and enhancing high-quality undergraduate, graduate and professional education, and emphasizing cocurricular development of the student. Wilfrid Laurier at a Glance Education Attained in Waterloo Continually ranked among the top undergraduate universities in Canada and the top undergraduate university in Ontario (MacLean s Nov., 2007) Over 600 full and part-time faculty with an operating budget of $82 million. Over 13,000 full and part-time undergraduate students Schlegel Centre for Entrepreneurship and Canada s first one-year MBA program; World-renowned Faculty of Music and Bachelor of Music Therapy program Satellite campuses in a variety of locations 18.4% University Degree 2.9% University Diploma (BELOW BACHELOR LEVEL) 18.6% College Diploma 8.1% Apprenticeship 28.2% Highschool 23.8% No Highschool Statistics Canada, 2006 Census, Educational Attainment of Workforce, Population Age 15+ Wilfrid Laurier Global Innovation Exchange When complete, the Global Innovation Exchange will be a state-of-the-art facility and an iconic representation of Laurier s leadership role in business and technology. Artist Concept of Wilfrid Laurier Global Innovation Exchange The GIE will be a 215,000 sq. ft. facility with a bold presence on University Ave. Housing the School of Business and Economics and the Department of Mathematics within the GIE will not only allow Laurier to meet the growing demand for enrolment in these programs, it will also enhance synergies between the two areas and expand the university s ability to deliver integrated and engaged learning to students locally and globally. SECTION 4: INTELLIGENCE Investment Property: 45 Columbia St. W., Waterloo

8 PAGE 8 A wealth of great opportunities 3.1 Property Potential Investment in the student housing market is a rare and lucrative opportunity that scarcely becomes available in the heart of Waterloo Region. With a highly visible location, located between Wilfrid Laurier University (WLU) and the University of Waterloo (UW), the property has an ever-expanding base of rental tenants. The Council of Ontario Universities reports that enrollment at the two universities was 38,220 for According to the University Neighbourhood Plan (UNP) conducted by the city of Waterloo 2004, 86% of students require off-campus housing which creates a market of 32,870 rental tenants. The property is located minutes off highway 85 and close to major commuter routes such as King Street, and the 401. Public transit runs on a steady schedule throughout the King Street and University Avenues, providing heavy traffic to the area, and making student housing in this area highly sought after. Surrounded by shopping, dining, nightlife and a variety of other amenities this location is ideal for all student traffic. With increasing enrollment in the two major universities in our City and an influx of out-of-town students, it is projected that the profitability will remain stable, if not, continue to grow steadily as the years progress. In addition, the City has reduced density for all new developments, effectively ceasing all further development. SECTION 3

9 3.2 Projected Operating Proforma PAGE 9 TOTAL INCOME MONTHLY INCOME BEDS UNIT RENTALS $458, $ PARKING $4, $30.00/spot 12 LAUNDRY $12, $ Projected Gross Income $475, Vacancy/Bad Debt (2%) -$9, Effective Gross Income $465, Projected Operating Expenses TOTAL EXPENSES PER BEDROOM % EGI PROPERTY TAXES (ACTUAL 2014) -$43, $ PROPERTY INSURANCE (2014) -$6, $ UTILITIES (ACTUAL 2014) WATER -$9, $ HYDRO -$5, $84.00 GAS CLEANING (ACTUAL 2014) -$4, $68.00 REPAIRS AND MAINTENANCE -$9, % MANAGEMENT -$16, % REPLACEMENT RESERVE -$9, % LANDSCAPING / SNOW (2014) -$5, $78.00 ELEVATOR (ACTUAL) n/a n/a GARBAGE REMOVAL (CONTRACT) -$3, $58.00 COMMUNICATIONS (ACTUAL) -$6, $ LAUNDRY EQUIP. LEASE (ACTUAL) n/a n/a Total Expenses -$119, Projected Net Income $346, Value At $4,999, $76, Mortgage Details OUTSTANDING AMOUNT JUNE 2015 $2,521, PAYMENT $16, INTEREST RATE 5.22% AMORTIZATION 25 Years EXPIRY August 2021 LENDER Equitable Life * All information is subject to errors,omissions, corrections, changes in price, prior sale or withdrawal from market without notice.

10 PAGE 10 Investment property details Recently (2012) constructed with high quality materials and workmanship Each unit features oversized bedrooms and floor-to-ceiling windows Excellent location between W.L.U. and the U. of W. Subject property generates consistent and stable cash flow Currently 100% leased and 100% leased since new Separately metered for hydro and gas SECTION 4

11 PAGE Property Details The subject property is an excellent quality asset constructed from wood frames on a poured concrete foundation. The property is heated with individual HVAC units for heating supply and air conditioning in each unit, each equipped with a programmable thermostat. Each unit will have a 100-amp subpanel, a separate hydro meter, and separate gas meter. The property is comprised of 13 units with a total of 65 rental bedrooms, built with the most energy efficient building systems This recently constructed building (2012) is being offered for sale at $4,999, which equates to approximately $76, per bedroom. This property is located between Wilfrid Laurier University and the University of Waterloo and has been 100% leased since inception. The property features oversized units, a large common area, coin operated laundry and bike storage. Investment Property: 45 Columbia St. W., Waterloo

12 PAGE 12 Investment property interior details STOREYS 4 UNITS 13 BEDROOMS 65 SUITE MIX 13-5 bedroom units PARKING SPACES 13 YEAR BUILT 2012 ZONING STRUCTURE EXTERIOR WALLS ROOF WINDOWS INTERIOR FINISHES LAUNDRY HVAC LIGHTING FIRES SYSTEM METERING MR4 Wood frame Brick Membrane Vinyl frames Ceramic tiles in bath High-end laminate in common area and bedrooms Coin operated Separate HVAC in each unit Fluorescent Sprinklered building Separate hydro meters and separate gas meters SECTION 4

13 PAGE 13 Sample floorplan layout 4.2 Interior Features Spacious 5 bedroom suites Variety of suite layouts 2 full bathrooms in each suite with pedestal sink, toilet and shower Large kitchen and common living areas Ceramic flooring in bathrooms and quality laminate in all bedrooms and living areas Each unit has its own HVAC unit for optimum in-suite comfort Investment Property: 45 Columbia St. W., Waterloo

14 PAGE 14 Just a glimpse... image gallery * Images are for illustrative purposes only and may not represent the actual finished building. SECTION 5

15 PAGE Style Sense The exterior of the buildings feature modern design details and boasts attractive curb appeal. The interior finishes are designed with today s student in mind. Simple, clean and contemporary suites maintain the overall architectural integrity of the property. The grounds will be professionally landscaped to further enhance the residence and incorporate elements of the natural environment to the building s surround. Investment Property: 45 Columbia St. W., Waterloo

16 Investment Opportunity 2015 Investment Opportunity 45 Columbia St. W., Waterloo Investment Property Offering Contact: Eric Reiner Sales Representative Coldwell Banker Peter Benninger Realty ext