Mathew Moxness has been involved with real estate for the bulk of his working life. Mathew’s skillset of creative financing and deal structuring, combined with his history of profitable projects and a budding network of builders, architects and suppliers, led him to found his real estate investment company, Crescendo Equity, over a decade ago. Today, Crescendo Equity has asset holdings in a dozen markets across Ontario, with a special emphasis on Ontario’s burgeoning multi-family segment.
“I saw the opportunities in the multi-family segment early on in my career. Ontario, and Canada in general, has strong fundamentals that drive the economy and the strength of the real estate market,” says Mathew, “Population growth, immigration, job creation, and attractive opportunities for academia all feed into demand within the multi-family segment. And these factors, combined with a decades-old housing supply shortage, indicated to me that demand in the segment was only poised to grow.”
Crescendo Equity’s most recent ventures involve repositioning underperforming assets in high-potential submarkets throughout Ontario. As such, Crescendo Equity has recently acquired a retirement home in Niagara Falls, with plans to convert the property into high-end apartments.
Located in a historical village within the community of Niagara Falls, the retirement home was established in 1990 and has since been permanently closed. As such, it has undergone little in terms of upkeep.
“Sadly, the property has been neglected for years and the community is happy to see my company step in,” says Mathew. “With growing demand for multi-family housing in the Niagara region, repositioning an asset such as this one will help to supply the segment, while creating local jobs and improving livability for the community at large.”
Crescendo Equity is also in the midst of asset acquisitions in the Greater Sudbury area, specifically targeting ageing, underperforming apartment supply. The company plans to revitalize these ageing properties to extend their useful life at a time when demand for multi-family units is high and supply is sorely lacking.
This strategy—involving acquiring, revitalizing, refinancing, and delivering the improved asset back to the community and investors—is tried-and-true, as far as Mathew as concerned. And he is dedicated to keep the momentum going.
“High returns are just one aspect my company is concerned with. We think it’s really important to preserve the unique value of ageing supply,” he says. “We plan to follow suit in underperforming markets throughout the province.”
Acquisition of assets in Niagara and Greater Sudbury 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.