Help with Ontario market selection to buy commercial multifamily

[Alec D.]

We have JV partners and are looking for help with market selection. We are deciding on which market to pursue in Ontario.

Criteria:

• One employer is not more than 15% of the city's jobs.
• One industry is not more than 20% of the cities jobs. 
• Continued high net migration post-covid.
• Low risk of overbuilding. 
• Average multifamily cap rate above 5%. 

Our investment thesis: 

We are looking for commercial multifamily properties.

Property criteria:

• Between class B and class C
• Between 6 and 18 units
• Value-add upside
• 85% or more economically stabilized