The Canadian Private Real Estate Podcast: Insights for LPs

Insights for limited partners (LPs) and accredited investors in Canadian private real estate. Hosted by Justin Smith of Hawkeye Wealth, this podcast helps you navigate the private real estate markets, covering market trends and strategies, deal structures, mortgage fund (MIC) and private REIT investing, and the risks unique to private real estate. Clear, professional analysis to help Canadians building long-term wealth through private real estate investing.

The Canadian Private Real Estate Podcast: Insights for LPs is a business podcast hosted by Unknown Host, with 8 episodes on record and a Required Pod Score of 80. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Unknown Host hosts The Canadian Private Real Estate Podcast: Insights for LPs, a business show with 8 episodes published.

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  The Canadian Private Real Estate Podcast: Insights for LPs

  7: Investing in Self Storage, with U-Lock's Robert Madsen

  Aug 25, 202637 min

  EPISODE DESCRIPTION In this episode, we're joined by Robert Madsen. Robert is the President of both U-Lock Mini Storage and the Canadian Self Storage Association from the Greater Vancouver Area of BC, who was born into the self-storage industry and has amassed over 40 years of experience. Regarded as pioneers of Canada's self-storage industry, the Madsen's founded their first facility of U-Lock Mini Storage in Vancouver's historic Yaletown district in 1978. Today, they own over 500,000 square feet of premium self-storage facilities serving the Lower Mainland and Vancouver Island, and continue to expand their portfolio through strategic acquisitions, development, and new product offerings. Robert is here to discuss: → His journey in self-storage and why it is not a passive industry. → The unique benefits & risks of the self-storage asset class, including being both a real estate investment and operating business combined, and the typical rent-up timeline of 3-5 years. → The typical metrics for self-storage feasibility including supply and demand, renting rates, and unit mix, what factors impact customer demand, and why comps are so hard to find. → The typical facility size in the Lower Mainland and staffing needs. → Canada's current self-storage market and what makes it niche compared to the US. → How self-storage boosts the economy, the impacts on entrepreneurs, and the opportunity for value adds. → How AI has impacted the self-storage industry as a whole and Robert's business so far and where it could go in the future. → The biggest over and under-blown risks in the self-storage space - the next generation of consumers and that it is an actual business. → Two pieces of advice - never make assumptions and keep innovating. *** U-Lock Mini Storage Website: ⁠⁠⁠ ⁠ www.selfstorage.ca U-Lock Mini Storage Instagram: @ulockministorage Robert Madsen's LinkedIn: ⁠ @RobertMadsen *** CHAPTERS 00:00 Intro 0:26 Today's Guest: Robert Madsen 3:34 Unique Benefits to Investing in Self-Storage 5:03 Unique Risks of Self-Storage 7:07 Typical Metrics for Feasibility & the Difference of the US Market 10:22 What Factors Impact Customer Demand 12:12 The Current Canadian Self-Storage Market, Number of Facilities, & Finding Comps 16:34 The Opportunity for Value Adds 17:46 Municipalities Misguided View on Storage as an Economy Booster 19:15 How AI Has Impacted Robert's Business & the Storage Industry So Far 22:09 Typical Facility Size in the Lower Mainland & Staffing 25:02 Over/Under-Blown Risks in the Storage Space 28:27 Important Metrics - Supply/Demand, Rates, & Unit Mix 31:20 The Rent-Up Timeline (3-5 Years) 35.28 Two Pieces of Advice 36:43 Wrap-Up *** CONNECT WITH THE SHOW ️ The Canadian Private Real Estate Podcast: ⁠⁠www.canadianprivaterealestatepodcast.ca⁠⁠ *** CONNECT WITH HAWKEYE WEALTH Hawkeye Wealth Website: ⁠⁠www.hawkeyewealth.com⁠⁠ Hawkeye Wealth LinkedIn: ⁠⁠@HawkeyeWealth⁠⁠ Hawkeye Wealth Newsletter: ⁠⁠@Newsletter⁠⁠ Hawkeye Wealth Mortgage Fund Guide: ⁠⁠@MortgageFundGuide⁠⁠ ***

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  The Canadian Private Real Estate Podcast: Insights for LPs

  6: Why Rentals Recover Before Condos Do with M3's Matthew Boukall

  Jul 28, 202633 min

  EPISODE DESCRIPTION In this episode, we're joined by Matthew Boukall. Matthew is the Director of Market Advisory at M3 Development Management from Calgary, Alberta, who has over 20 years of experience in real estate research, advisory, and data analytics across Canada, the US, and international markets, and is currently focused on Western Canada's multi-family and industrial markets. A sought-after market expert and industry leader, Matthew has in-depth knowledge of real estate data, predictive analytics, and real estate strategies, providing insights that help clients identify opportunities, manage risk, and maximize value. M3 Development Management (M3) is a Calgary-based development team made up of seasoned professionals who have gained both broad-based and specialized, international experience, collectively spanning decades within the development and construction sectors. With more than a decade of delivering excellence, M3 guides clients through every stage of real estate development from vision to execution, with an approach built on trust, precision, and results. Matthew is here to discuss: → His journey in real estate, who M3 is, and what they do. → The current condo and rental markets in Calgary and Edmonton, including the unique factors that make Calgary the stronger condo market while Edmonton is the stronger rental market. → The specific factors lead to the challenges of Vancouver's condo and rental markets, their possible recovery timeline of 18 to 24 months, and if BC reducing DCCs by up to 50% will help with more housing starts. → An overview of Calgary, Edmonton, and Vancouver's industrial markets, why the Calgary area has had huge growth in industrial, and what makes industrial hard in Vancouver. → The potential impact of the newly announced Delta Port Expansion, with a capacity of up to 2,000,000 additional shipping containers arriving annually, and what that could mean for BC's lower mainland industrial. → What separates top developers from the rest and advice for new investors. *** M3 Development Management Website: ⁠ www.m3dm.ca M3 Development Management LinkedIn: @M3DM M3 Development Management Instagram: @m3developmentmanagement Matthew Boukall's LinkedIn: @MatthewBoukall *** CHAPTERS 00:00 Intro 0:26 Today's Guest: Matthew Boukall 3:12 Calgary & Edmonton's Condo Market Shifts 6:31 Vancouver's Condo Market Challenges 9:14 The Vancouver Rental Market 10:45 When Will the Vancouver Market Turn Around? 13:26 Will BC Reducing DCCs by 50% Help with Housing Starts? 17:38 Calgary, Edmonton, & Vancouver's Industrial Markets 22:45 Vancouver's Industrial Condo Market 24:34 The Potential Impact of the Delta Port Expansion on Lower Mainland Industrial 28:12 What Separates the Top Developers from the Rest 31:02 Advice for New Investors *** CONNECT WITH THE SHOW ️ The Canadian Private Real Estate Podcast: ⁠www.canadianprivaterealestatepodcast.ca⁠ *** CONNECT WITH HAWKEYE WEALTH Hawkeye Wealth Website: ⁠www.hawkeyewealth.com⁠ Hawkeye Wealth LinkedIn: ⁠@HawkeyeWealth⁠ Hawkeye Wealth Newsletter: ⁠@Newsletter⁠ Hawkeye Wealth Mortgage Fund Guide: ⁠@MortgageFundGuide⁠ ***

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  The Canadian Private Real Estate Podcast: Insights for LPs

  5: Multifamily, Cap Rates, and the Setup for Post-2027 Rent Growth with Centurion Chief Economist Carl Gomez

  Jun 23, 202640 min

  EPISODE DESCRIPTION In this episode, we're joined by Carl Gomez. Carl is the Chief Economist & Executive Vice President of Research at Centurion Asset Management from the Greater Toronto Area in Ontario, who has over 25 years of experience as a Canadian economist and investment professional, specializing in real estate and capital markets. Carl began his career at the Canada Mortgage and Housing Corporation (CMHC) before working as a Senior Economist at both RBC Financial Group and TD Bank Financial Group. His career includes senior positions at Bentall Capital, Bentall Kennedy, QuadReal Property Group, and the CoStar Group before joining Centurion in January of 2026. Centurion Asset Management Inc. is a Canadian asset management company specializing in real estate and other alternative investments. A recognized leader in the space since 2003, Centurion is Canada's largest private REIT, managing over $8 billion in assets. Carl is here to discuss: → His career so far, who Centurion is and how he joined them, and what he does in his day-to-day including working with teams, deal vetting, & road shows. → If Canada is in a recession, future expectations for the Canadian economy, including GDP and job growth, and the differences between structural and cyclical issues and their impacts. → If we will have a deal with the US soon and AI's potential impact on real estate. → What the data is saying about multifamily and the areas in which he's pessimistic, like how we've been building the wrong housing type, and the areas in which he's optimistic, like rent growth being strong in markets where there isn't over-supply. → The data set real estate investors should actually be watching, long-term bond yields, because they are the true indicator of capital costs as policy rate decisions by central banks world wide have lagged behind for years, and how they impact interest rates. → Why the Bank of Canada will be raising interest rates in the near future and how they have been mismanaged since the start of the Covid pandemic. → What is happening with current cap rates for class A multifamily, why long-term institutional and private investors are currently benefitting the most, and what factors could lead to positive rent growth post-2027. → Debunking the myth of Canada having a housing supply problem, when it is really an affordability problem. → Canada's immigration rebalancing strategy, which is currently in a system correction, with the negative population growth due to exiting non-permanent residents in 2026, that will turn into 1.5% population growth with a rebalanced system post-2027. → The most impactful advice he received early on - trust is the essence of investment. 🌎 Centurion Asset Management Website: www.centurion.ca 🔗 Centurion Asset Management LinkedIn: @CenturionAssetMGMT 🔗 Carl Gomez's LinkedIn: @CarlGomez *** CHAPTERS 00:00 Intro 00:26 Today's Guest: Carl Gomez 1:27 Who Are Centurion & How Carl Got There 3:10 Carl's Day-to-Day 4:30 Expectations for Canadian Economy (GDP & Jobs) 6:53 Will We Have a US Deal Soon? 8:08 AI's Potential Impact on Real Estate 11:19 What the Data Says About Multifamily 15:26 When Will the Headlines Change? 17:53 Data Real Estate Investors Should Be Watching 19:35 BoC Will Raise Interest Rates 23:49 Caps Rates for Class A Multifamily 30:25 Canada Has an Affordability, Not a Supply, Problem 32:18 Canada's Immigration Rebalancing Strategy Explained 37:39 One Piece of Advice - Trust is the Essence of Investment 39:05 Wrap-Up *** CONNECT WITH THE SHOW 🎙️ The Canadian Private Real Estate Podcast: www.canadianprivaterealestatepodcast.ca *** CONNECT WITH HAWKEYE WEALTH 🌎 Hawkeye Wealth Website: www.hawkeyewealth.com 🔗 Hawkeye Wealth LinkedIn: @HawkeyeWealth 📬 Hawkeye Wealth Newsletter: @Newsletter 💰 Hawkeye Wealth Mortgage Fund Guide: @MortgageFundGuide ***

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  The Canadian Private Real Estate Podcast: Insights for LPs

  4: The Coming AI Shockwave and What it Means for Real Estate with Thomasfield Homes' Tom McLaughlin

  May 26, 202636 min

  EPISODE DESCRIPTION In this episode, we're joined by Tom McLaughlin. Tom is the VP of Finance of Thomasfield Homes from Guelph, Ontario, a family-owned home builder and land developer based in Southern Ontario since 1978. With over 15 years of experience in homebuilding, land development, and project management, Tom has led the financing and execution of complex real estate projects from planning to completion. He is the second vice-chair of the Ontario Home Builders’ Association (as of 2025) and a past-president of the Guelph & District Home Builders’ Association. In 2025, Tom authored a brilliant article in the Real Estate News Exchange titled, " Construction's Productivity Illusion, and the Robot-Filled Future That Just Might Fix It ", which is the springboard for this conversation today. Tom is here to discuss: → His journey in real estate from urban planning to Thomasfield Homes → How AI has improved day-to-day operations at Thomasfield like expediting workflows, and areas where it hasn't worked like plan rendering. → What the real estate industry is getting wrong about AI - building up way too much short-term hype, while also being blind to the long-term vision. → AI's role in construction's productivity problem - How AI robots, like the Tesla Optimus, could change the construction industry, when these changes could be coming, and the common objections to AI robots in construction. → If real estate, in this new future, will still be an inflation hedge. → The historical impact transportation has always had on real estate, and how autonomous vehicles could reshape the future of urban planning. → The factors to prioritize when investing in real estate in the new world - jurisdictions with strong property rights, housing supply deficits, climate resilience, and reliable energy infrastructure. → The most impactful advice he received early on - cycles are temporary, but good assets endure. Thomasfield Homes Website: www.thomasfield.com Tom McLaughlin's LinkedIn: @TomMcLaughlin *** CHAPTERS 00:00 Intro 00:26 Today's Guest: Tom McLaughlin 05:01 How AI Has Changed Day-to-Day Operations at Thomasfield 07:01 Areas at Thomasfield Where AI Hasn't Worked 09:53 What the Industry is Getting Wrong About AI 10:35 How AI Robots Will Change the Construction Industry & When It's Coming 15:51 Common Objections to AI Robots in Construction 17:50 Will Real Estate Still Be an Inflation Hedge? 22:29 The Impact of Autonomous Cars & Transportation on Real Estate 28:04 Where & What Real Estate to Own in the New World 34:41 Most Impactful Advice 35:40 Wrap-Up *** CONNECT WITH THE SHOW 🎙️ The Canadian Private Real Estate Podcast: www.canadianprivaterealestatepodcast.ca *** CONNECT WITH HAWKEYE WEALTH 🔗 Hawkeye Wealth Website: www.hawkeyewealth.com 📋 Hawkeye Wealth LinkedIn: @HawkeyeWealth 📬 Hawkeye Wealth Newsletter: @Newsletter 💰 Hawkeye Wealth Mortgage Fund Guide: @MortgageFundGuide ***

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  The Canadian Private Real Estate Podcast: Insights for LPs

  3: Beyond the Boom, A New Era for Real Estate with Wendy Waters

  Apr 28, 202638 min

  EPISODE DESCRIPTION In this episode, we're joined by Wendy Waters. Wendy is a real estate research specialist from Vancouver, BC, who has over 20 years of experience in real estate research. Wendy regularly publishes research on LinkedIn, and takes part on podcasts and panels across Canada. From 2006 to 2025, Wendy led the Research Services & Strategy Team at GWL Realty Advisors, where they provided strategic analysis on office, industrial, retail, and multi-residential portfolio strategy across Canada, focusing on the economic, demographic, and social drivers of real estate performance as well as capital flow and market trends that shape returns. Wendy currently volunteers on the steering committee of the Urban Land Institute (ULI) of BC. Until September, 2025, she was also the Co-Chair of the RealPac Research Committee, and a member of the Board of Directors of the Urban Development Institute of BC (UDI). Wendy is here to discuss: → Her experience in the real estate industry and how AI will change real estate in the future. → How real estate historically is used as an inflation hedge and the disconnect between how there is a demand for housing, but the current price-points it sits at is not attainable for buyers. → The old mantra of "growth pays for growth" - how high development charges in BC is leading to younger buyers subsidizing the older, wealthier population of current home-owners when it comes to infrastructure, leading young people hundreds of thousands of dollars behind. → If Ontario cutting development fees & HST for home buyers have led to greater affordability. → The impact of less immigration and population decline on housing including the how less non-permanent residents are affecting the rental market, Vancouver's vacancy rates, and renters finally having options. → The 2 key demographic shifts investors should be aware of, 25-35 year old new permanent residents and the aging Boomers, and where opportunities could be to cater to those populations. → The 2 risks investors are either over or underestimating, including that there's "too much housing", and the new realities of an interest rate environment where it's stable or increasing as opposed to falling. Wendy Waters's LinkedIn: @WendyWaters *** CHAPTERS 0:00 Intro 0:26 Today's Guest: Wendy Waters 4:25 Real Estate as an Inflation Hedge 8:32 There is Housing Demand, but the Price is Wrong 10:37 Vancouver Vacancy Rate - Renters Finally Have Options 15:18 Impacts of Ontario Cutting Development Fees & HST 16:38 "Growth Pays for Growth" Mindset Hurting Young Buyers 18:40 Impact of Population Decline on Rentals 20:04 Impact of AI on Real Estate in the Near Future 26:21 Demographic Shifts Investors Should Be Aware Of 33:42 Risks Investors are Over/Under Estimating 37:11 Wrap-Up *** CONNECT WITH THE SHOW 🎙️ The Canadian Private Real Estate Podcast: www.canadianprivaterealestatepodcast.ca *** CONNECT WITH HAWKEYE WEALTH 🔗 Hawkeye Wealth Website: www.hawkeyewealth.com 📋 Hawkeye Wealth LinkedIn: @HawkeyeWealth 📬 Hawkeye Wealth Newsletter: @Newsletter 💰 Hawkeye Wealth Mortgage Fund Guide: @MortgageFundGuide ***

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