Apartment Syndications

Apartment Syndications

Apartment ownership is typically priced beyond the average investor’s means; however, apartment syndications allow the small investor an opportunity to participate in our Victoria apartment market.

Devon has successfully structured and managed over 20 apartment syndications in Greater Victoria over the last 30 years. 

Devon syndications are typically structured with the long term goal of creating and maintaining steady income for an individual’s retirement.  We have always structured our syndicates based on the economics of the building and long term CHMC financing. These “blue chip” investments have consistently provided a stable income source with the benefit of significant capital appreciation over time. 

The high cost of land in Victoria has seen very few rental apartments being constructed over the last 30 years.  This has resulted in a very strong rental market which consistently features both a low vacancy rate and increasing rents. This has created a very stable and safe investment for investors.

Our syndications are a passive investment whereby a group of investors own “share units” in an apartment building. Devon typically purchases the building through a bare trustee company. We bring the building up to Devon Standards, prepare a prospectus for investment and market the shares in the bare trustee company to individual investors.  This bare trustee company is created with the sole purpose of holding the property for the “beneficial” owners (the investors). Devon professionally manages both the building and the syndication. The investors then receive the monthly income.

Numerous investors in Devon syndications have held their “unit shares” for many years.  These units have proven to be an important pillar in their cash flow and retirement portfolios. Today, many of these “unit shares” are being passed onto the next generation or being sold to new investors.

Devon continues to broker the sale of these “unit shares” and continues to search for new apartments to purchase and syndicate.

If you would like to be made aware of units that become available or wish to be contacted when a new syndication is structured, please provide your contact information below.