December 21, 2023 7:55 AM EST | Source: Parvis Invest Inc.
- Parvis enters into issuer services agreements with District REIT, Revesco REIT, Vic Station, Friescan and Elite.
- Investment transaction volume increased by 770% compared to the previous quarter.
- 3X increase in issuer clients compared to the previous quarter, a record performance for a single quarter in Parvis' history.
- New agreements signal Parvis' market leadership and growth trajectory heading into 2024.
Vancouver, British Columbia--(Newsfile Corp. - December 21, 2023) - Parvis Invest Inc. (TSXV: PVIS) ("Parvis" or "the Company''), a technology-driven real estate company focused on supporting issuers and broadening access to institutional quality real estate investment opportunities, today announced the addition of five new Exempt Market Dealer (EMD) issuer clients: District Property Trust ("District REIT"), Revesco Properties Trust ("Revesco REIT"), Vic Station Limited Partnership ("Vic Station"), Friescan Mortgage Investment Corp. ("Friescan"), and Elite Mortgage Corp. ("Elite").
In pursuit of democratizing access to top-tier investment opportunities and enhancing liquidity in the private asset landscape, Parvis has further pinpointed a distinct need-gap in the market - the development of a streamlined, regulated and scalable investment platform. Aligned with its business strategy, Parvis engages with issuers and developers to facilitate the seamless processing and servicing of investors to address this unique market need. These agreements build on significant business progress underpinned by increased revenue, improved investment processing capacity, and expanding market share.
"Over the past few months we have focused on growing our EMDSolutions vertical, so today I am pleased to be announcing our newest issuer services agreements with these exceptional partners," said David Michaud, Parvis' Chief Executive Officer. "Our platform enables us to bring added value to issuers, all while driving profitable growth and revenue. By providing a regulated and complete end-to-end solution for private market investments, these agreements extend our integration with real estate issuers across Canada, partners known for their strength creating value for investors in real estate":
- District REIT, with $250 Million in asset under management ("AUM"), presents a compelling investment opportunity in a diversified real estate portfolio specializing in multifamily and industrial real estate along with mortgage investments. District REIT provides a unique advantage in acquiring newly constructed developments, making it an exceptional choice for investors seeking prime real estate opportunities. District REIT's historic distributions are 8% per annum, with total annual returns in 2022 amounting to 18%. Additionally, opting for the Automatic Distribution Reinvestment Plan ("DRIP") earns investors an additional 2% Unit Bonus with returns being compounded. Securities offered are Class A Units, requiring a minimum investment of $10,000.
- Revesco REIT, an established perpetual life REIT with over $100M in AUM, specializes in acquiring ownership in open-air shopping centers and mixed-use properties across the United States, focusing on dynamic trade areas with diversified economies. Revesco REIT operates as a nimble and responsive boutique real estate investment and management firm based in Denver, CO. The fund structure is a U.S. Dollar-denominated open-ended mutual fund trust with Class B and Class C unit classes, requiring a minimum subscription of $10,000. Revesco REIT's targeted distribution is 4.75-6% per annum, aiming for a total return of 10-14% average annual return.
- Vic Station provides an ownership interest in a mixed-use development and construction project in Kitchener, Ontario, with an attractive limited liability model for investors. The project features a targeted 261 residential units and over 8,000 sq ft of commercial space. The investment offering consists of approximately $8.5 million for accredited investors with a targeted 26% annual return, on an estimated 3-year term. The management, development, and construction efforts are led by Valour Group, which is part of an established group of vertically integrated real estate companies. Valour is focused on purpose-built rentals featuring affordability, environmental efficiency, and barrier-free units.
- Friescan is an Abbotsford-based mortgage investment corporation that offers competitive mortgage financing. The company's focus is on serving its niche clientele, engaged in meeting their financial goals. Friescan has over $7M in AUM with plans to grow to $100M in the next few years.
- Elite is a full-service mortgage investment corporation based in Abbotsford, British Columbia. It works with trusted mortgage professionals that provide a high standard of lending services to its clients. Elite has over $12M in AUM with plans to grow to $100M in the next few years.
Parvis offers to these issuers a complete suite of EMDSolutions encompassing compliance, back-office functions, and marketing. Through their collaborations with Parvis, the issuers will be able to streamline their administrative tasks, allowing them to concentrate on their core operations and deliver value to their investors.
In 2024, Parvis said it expects to increase market share by deploying strategies aimed at achieving both technological innovation and strategic expansion. These measures include leveraging artificial intelligence, streamlining operations and compliance processes and the launch of its flagship fund, the Parvis Direct Access Fund.
Michaud adds, "We continue to execute our strategic plan, positioning Parvis to deliver strong, long-term growth and create meaningful shareholder value as we consolidate the marketplace."
About the Company
Parvis is a technology-driven real estate investing platform. Focused on supporting capital raising efforts by issuers and broadening access to institutional quality investment opportunities, Parvis promotes greater access in this historically inaccessible and illiquid asset class. Enabled by blockchain technology, Parvis makes finding, tracking, and maximizing investments an experience that is both frictionless and empowering. Parvis, headquartered in Vancouver, employs experts in Toronto, Vancouver, Kelowna, and Montreal. Additional information about Parvis is available at www.parvisinvest.com and on SEDAR at www.sedar.com.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: expectations regarding market leadership and growth trajectory; expectations regarding improved revenue, investment processing capacity, and market share; expected AUM and distributions of Revesco REIT, District REIT, Vic Station, Friescan, and Elite Lending; financial outlook and upcoming; strategies and objectives including expectations with respect to its full fiscal year 2024 financial results; launch of the Parvis Direct Access Fund; the timing, structure, and financial impacts of certain contracts; and the Company's business plans and role in the investment industry. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the real estate, investment, and technology industries in general. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
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