October 31, 2023 10:31 AM EDT | Source: Parvis Invest Inc.
Vancouver, British Columbia--(Newsfile Corp. - October 31, 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 Pier 4 Real Estate Investment Trust ("Pier 4") and HoneyTree Real Estate Trust ("HoneyTree") as new Exempt Market Dealer (EMD) issuer clients.
While fulfilling its mission to open up access to institutional quality real estate investment opportunities and increase liquidity in private assets, Parvis has identified a unique need-gap within the market for an efficient and scalable EMD investment platform. Complimentary to the business model, Parvis onboards issuers and developers to help process and service investors.
"Over the past few months, we've been diligently growing our EMDSolutions vertical. We are pleased to share our newest investor agreements with Pier 4 and HoneyTree, two 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, those known for their strength creating value for investors in real estate."
Pier 4 is a private REIT that invests in multi-family buildings across Canada and provides investors with the opportunity to diversify their portfolios and gain investment exposure to high level real estate assets. With over 100 years of combined experience in real estate acquisitions, asset management and property management, Pier 4 focuses on building strategic partnerships in the real estate industry to ensure the highest return for investors. Pier 4 currently has approximately $95M in AUM, with another property under contract that is expected to close this year. Following this closing Pier 4 will surpass $100M of AUM.
Headquartered in Toronto, HoneyTree is a private REIT that offers passive real estate investing opportunities for active professionals and specializes in acquiring and operating tech-enabled real estate. Today, HoneyTree's AUM, combined with that of its principals, is in excess of $70M consisting of over 200 doors across 10 apartment buildings, 4 hotels, and a handful of single family homes.
For both companies, Parvis will provide comprehensive EMDSolutions, including compliance, back office and marketing. Outsourcing EMD services to Parvis will enable Pier 4 and HoneyTree to streamline their administrative work and focus their efforts on their core business and creating value for their investors.
About the Company
Parvis is a technology-driven real estate investing platform. Focused on broadening access to institutional quality real estate 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: execution and integration of the Memorandum of Understanding; 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.
For further information:
David Michaud, CEO, Parvis Invest Inc.
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Claudia Labelle, August Strategy Inc.
SOURCE: Parvis Invest Inc.
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