The Market Thesis
The case for multifamily real estate in British Columbia and Alberta is structural, not speculative. Here is why we believe in these markets deeply.
The Big Picture
Canada's housing shortage is not a temporary market imbalance — it is a structural deficit that has been building for decades. The Canada Mortgage and Housing Corporation (CMHC) estimates that Canada needs to build 3.5 million additional homes by 2030 just to restore affordability. That target is not being met.
For real estate investors, a structural housing shortage is one of the most powerful tailwinds possible. It means persistent rental demand, low vacancy rates, and upward pressure on rents — all of which translate directly into stronger income and appreciation for multifamily property owners.
British Columbia and Alberta are at the epicentre of this dynamic, driven by strong interprovincial and international migration, constrained new supply, and aging rental stock that is ripe for value-add investment.
By the Numbers
Additional homes Canada needs by 2030
CMHC, 2024
Rental vacancy rate in key BC markets
CMHC Rental Market Report
BC leads Canada in interprovincial in-migration
Statistics Canada
Rent growth in BC over the past 5 years
CMHC / Statistics Canada
Provincial income tax in Alberta
Government of Alberta
New Canadians arriving annually, driving rental demand
IRCC, 2024
The Asset Class
Small multifamily buildings occupy a unique and compelling position in the Canadian real estate market. They are large enough to generate meaningful income, yet small enough to be acquired with private capital and managed without institutional infrastructure.
Institutional investors focus on 50+ unit buildings. Individual investors focus on single-family homes. The 8–15 unit space is underserved, creating better pricing and less competition for disciplined buyers.
Buildings under a certain threshold often qualify for CMHC-insured financing, providing access to lower interest rates and better loan-to-value ratios than commercial mortgages.
8–15 units is the ideal scale for a first-time GP. Large enough to generate meaningful returns, small enough to manage effectively without a large team or complex infrastructure.
Older BC and Alberta walk-up buildings frequently have below-market rents, deferred maintenance, and inefficient operations — all of which represent opportunities to create value through active management.
Unlike a single-family rental, a 12-unit building means no single tenant represents more than 8% of income. Vacancy and non-payment risk is spread across multiple units.
Small multifamily buildings in BC and Alberta have a deep pool of buyers — other syndicators, private investors, and local operators — ensuring liquidity at exit.
Register your interest to receive the full Offering Memorandum and be first in line for our inaugural deal.