Parvis Announces Co-Agency Agreement With Equiton To Distribute Two Of Its Funds
VANCOUVER, BC, May 2, 2023 /CNW/ - Parvis Invest Inc. (TSXV: PVIS) ("Parvis" or "the Company"), a technology-driven real estate company focused on broadening access to institutional quality real estate investment opportunities, today announced a co-agency agreement with Equiton, a leading Canadian private equity real estate investment firm, to distribute two Equiton products on the Parvis platform.
Through this co-agency agreement, investors registered on the Parvis platform will have turnkey access to a leading private real estate investment trust (REIT) opportunity with monthly distributions in addition to the varying, premium development projects listed on the platform. The two funds set to be listed include the Equiton Apartment Fund and Equiton Income and Development Fund, both designed to provide investors with access to a diversified portfolio of institutional quality real estate investments.
"We believe in Canadian real estate. Its strong fundamentals have helped many people build wealth for their families. That's why we're so excited about this partnership with Equiton, " said David Michaud, Chief Executive Officer of Parvis. "From the beginning, we've wanted to build a platform that helps more people build long-term value and wealth. But investors who want access to private real estate investment face barriers. Now, through our tech-enabled platform, we can provide access to both individual and pooled investment opportunities - allowing investors to find the right fit for them, no matter what their investment objectives might be, with little hassle. This is an important step forward for our business, and I couldn't be more excited about it."
As of May 2, 2023, the Equiton Apartment Fund comprises 32 properties across 17 communities in Ontario and Alberta, with a total of 2,548 residential units with a targeted annual net return of 8-12% per year.
The Equiton Income and Development Fund provides access to a diversified portfolio of institutional grade real estate assets including income producing (commercial/industrial/lending) as well as development projects. The Fund targets an average annual net return of 12% to 16% over a 10 year period.
Both Funds specialize in acquiring multi-residential properties in Canada and increasing their value through active management and monthly distributions to investors from rental income and capital appreciation.
The listing of these funds follows Parvis' signing of an agreement to provide Exempt Market Dealer (EMD) services to Harvestd and Parametric, which opened up an exciting vertical for 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, and Montreal. Additional information about Parvis is available at www.parvisinvest.com and on SEDAR at www.sedar.com
Founded in 2015, Equiton is a recognized leader in private equity investments. We partner with advisors to offer easy access to all types of investment grade real estate through our proven, high-performing investment solutions that provide a variety of benefits including cash flow and capital appreciation. Our real estate expertise and dedication to investors led to tripling of our AUM from 2020 to 2022 during a global pandemic. Our exponential growth is a direct outcome of our leadership team understanding how the industry works and how to create long-term wealth through real estate investing. To learn more about our investment solutions visit https://equiton.com/
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: final acceptance of the Exchange of the Qualifying Transaction and the issuance of the Final Exchange Bulletin; commencement of trading of the Common Shares; and the Company's business plans and role in the real estate 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; delay or failure to receive board, shareholder or regulatory approvals; 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 and technology industries in general; and the risk factors disclosed under the heading "Risk Factors" in the Filing Statement. 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. Investors are cautioned that, except as disclosed in the management information circular or Filing Statement prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
SOURCE Parvis Invest Inc.
Johanna Gonzalez, Investor Relations. Email: [email protected]; For media inquiries please contact: Michael O'Shaughnessy, Fintona Strategy, Email: [email protected]
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