A recent real estate development trust (REDT) offering succeeded in raising millions for a Burnaby mixed-use project, and with another REDT on the horizon for a big Surrey project, the benefits and risks of this financing platform are coming into focus.
A REDT issued by Vancouver-based Anthem Properties Group Ltd. last fall raised the maximum offering amount of $82 million, and looking ahead to this fall, North Vancouver-based Pure Multi-Family Group is planning its own REDT for an education housing project in Surrey city centre.
“Our goal is to launch the REDT in the fall, which is dependent on the bankers and on the overall market conditions,” said Pure Group’s CEO Steve Evans.
If
→ Continue reading at BIV