Real estate investment platform extends reach into Atlantic Canada
Parvis Invest Inc. has announced its expansion into Atlantic Canada through a partnership with Halifax-based private mortgage lender Keystone Capital Group.
Parvis is a real estate investing platform operating as a licensed exempt market dealer in all provinces of Canada. The Vancouver-headquartered company said this partnership allows Parvis to broaden its portfolio offerings to include a wider range of investment products, from residential to commercial mortgages.
"We are excited to announce the expansion of Parvis in Atlantic Canada," Parvis CEO David Michaud said in a media release. "Our vision has always been to empower Canadians with innovative investment solutions previously reserved for institutional investors. This expansion allows us to further our commitment to providing accessible and diverse real estate investment opportunities to individuals nationwide."
Keystone Capital Group offers alternative mortgage loans throughout Atlantic Canada, including Nova Scotia, New Brunswick, Newfoundland, and Prince Edward Island.
The nonbank lender primarily sources short-term mortgage financing opportunities through licensed mortgage brokers, secured to residential and multi-unit properties, mostly through first-position mortgages.
Keystone's management brings over 25 years of experience in the Canadian mortgage industry. The company is in the process of establishing Keystone Mortgage Investment Corporation, which is expected to be operational by the end of 2024.
Ryan MacNeil, President of Keystone Capital Group, shared his insights on the challenges and opportunities in the current private lending market during an interview with CMP last November.
"We saw a significant opportunity to enter the market, particularly with our local market expertise here in the Atlantic," MacNeil explained. "It seemed like the perfect time. Historically, market turmoil tends to draw more attention to the alternative lending sector."
MacNeil noted that this shift has been consistent over the past decade, especially in the last four to five years, with a notable increase in market share for alternative mortgages.
Read more: Alternative mortgages in Canada: what you need to know
"I personally believe this trend will continue for several more years. Given the current interest rates and the difficulties in qualifying with traditional lenders, there will be a sustained need for alternative and private loans," he said.
Real estate investors are a key target market for Keystone, particularly those involved in fix-and-flip projects and building their real estate portfolios. Keystone helps these investors leverage equity to complete purchases.
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