Crescendo Equity sets a new benchmark for apartments in the Niagara Falls area
HAMILTON, ON, March 2, 2021 /CNW/ - Crescendo Equity is adding fuel to the fire that is Niagara's hot real estate market. After placing a 12-unit apartment building on the market, the company secured a total sale of 2.965M. This translates to 247k per unit, compared to a previous benchmark of 176k for units in the area. The property is located on Drummond Road in the Niagara Falls area.
Natalie Sakowski is the St. Catharines-based realtor who coordinated the Drummond Road sale. "With our knowledge of past and current market activity, we are able to analyze, predict, and establish trends that benefit communities in numerous ways. In turn, I am able to sell and market properties to create new benchmarks," she says.
Though Niagara's housing market was balanced in 2020, it is expected to favour sellers in 2021. "Market conditions are being strengthen by interprovincial migration, as homebuyers and renters from the Greater Toronto Area, Peel, and Halton regions look to Niagara for more space and better affordability," says Mathew Moxness, Crescendo Equity's founder. "In 2021, demand for housing will continue to grow and selling prices will go up."
The acquisition and sale of the Drummond Road property is part of Crescendo Equity's larger strategy to acquire, revitalize, refinance, and deliver improved property assets back to the community and investors. The company's most recent ventures involve repositioning underperforming assets in high-potential submarkets throughout Ontario where demand for housing is high.
Late last year, Crescendo Equity acquired a shuttered retirement home in Niagara Falls, with plans to convert the property into high-end apartments. The property will eventually add stock to Niagara's multifamily segment, which has been chronically undersupplied.
Acquisition of assets in Niagara is following a petition by Crescendo Equity to obtain and reposition underperforming assets across Ontario. To date, Crescendo Equity has surpassed 50 million in managed assets across the province.
"With growing demand for multifamily housing throughout Ontario, repositioning ageing and underperforming assets will help to supply the segment and provide housing for those who need it," says Moxness. "My hope is to add much-needed stock to the housing market, while creating local jobs and improving livability for the community at large."
About Crescendo Equity
Over the course of a decade, Crescendo Equity has acquired properties in many markets across Ontario, with a special focus on underperforming apartments and builds in the multifamily segment. Mathew Moxness and his team Crescendo Equity are intrinsically focused on identifying inefficiencies, repositioning assets, and maximizing ultimate cash flow, offering exceptional investments returns to accredited partnered investors.
SOURCE Crescendo Equity
Investor Relations: Mathew Moxness, [email protected]; Media Relations: Zakiya Kassam, [email protected]
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