All Forum Posts by: Tony LeBlanc

Hi @Mohammad Khudyir, 

Please send me an email - tony at groundfloorpm.com. 

Let's chat.

Hi everyone,

I manage over a 1000 units in Moncton and know the city in and out. Hopefully, I can provide you with some helpful information. 

Moncton went through a very tough time from 2013-2016. We had record growth in the new construction side of the equation and that caused an oversupply in the market. This forced a lot of the people to lower their rents just to fill up the new inventory. The effect from this was that people that could not afford the new stuff could now due to all the deals out there. A ripple effect ensued. Tenants from B class buildings could now afford A class, C class could now afford B class. The end result was that we all suffered. 

That being said, this is now gone and past. The last 24 months have been very good. New construction is under control and vacancy rates are well under 5%. Ours is current under 1%. 

Moncton is a very stable market with a lot of buzz lately. We just built a new event center and there are some very nice projects on the way such as a new Hilton hotel downtown, Hyatt is building a new hotel right now next to the events center and a lot more. 

I've sold 5 properties in the last 3 months, ranging from a 7 unit up to 22 units. CAP rates will vary depending on the product. Newer will fetch low 6's, mid-tier are closer to high 6's and lower end can reach low 7's to mid 8's.

If I can be of any more help, please let me know. 

-Tony

I don't know of any but would also be interested in being part of one.