The Vancouver Sun Interview with Harmel Rayat...
I was just interviewed by The Vancouver Sun for this article on commercial real estate. Enjoy... And if you have a moment, I'd love to hear what you thought of this. I'd appreciate the comments.
Here's more from The Vancouver Sun feature:
"When Harmel Rayat acquired his first commercial property in 2006, he didn’t know what a cap rate was, or how or why it was used to determine value in a property asset.
“I was very nervous then,” said the president and CEO of Vancouver-based Talia Jevan Properties. “Not only did I not know what a cap rate was, but I couldn’t tell you the difference between a leasing agent or a sales agent.”
He ended up buying the mixed-use building in North Vancouver for just under $8 million. It was his first foray into commercial real estate, after spending decades in stock trading and venture capitalism.
Today, Rayat says his real estate assets have grown into what he says is a portfolio worth more than $145 million encompassing 500,000 square feet.
Among Talia Jevan’s Vancouver assets are the Birks Building on the corner of Granville and West Hastings, the neighbouring Kalen Capital building, and the Leckie Building in Gastown. Their stable of properties also includes three other commercial buildings in Scottsdale, Ariz.
“I believe that success is formulaic,” Rayat said in an interview last week. “Successful people leave tracks that if you follow in their footsteps, you’ll become a success as well in whichever chosen profession you decide.”