A turnaround, not a gut renovation.
Mount Royal is the full cycle in one building: a troubled acquisition, an operational reset, and a refinance that returned capital inside twelve months.
Acquired in March 2025 with Kevin as an equity partner. The property came with a history of crime and problem tenancies that had suppressed both rents and the building's reputation in the neighbourhood. Under new ownership it was repositioned into a stable, family-oriented building — through tenant turnover and screening, not a capital-intensive renovation.
The refinance delivered a 30% return to investors, with approximately $600K in value added within the first year. Kevin holds an equity position; day-to-day asset management is handled by the operating partner in Saskatoon.
Twelve months, start to refi.
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Acquisition
Purchased with a local operating partner. Underwritten on in-place income with the reputation problem priced in — not on a projected turnaround.
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Reposition the tenancy
Problem tenancies resolved, a consistent screening standard applied on every turnover, and the building re-established as a safe, family-oriented address.
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Stabilize and refinance
With operations stable and income proven, the property was refinanced — returning 30% to investors and crystallizing roughly $600K in added value.
The next deal will look a lot like this one.
Under-managed, well-located, and small enough to fix by hand. If that's the kind of exposure you want in Canadian multifamily, introduce yourself.
Start a Conversation →- kevin@qsgrowth.co
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- Mount Royal · 18 units