Crowdfunding takes a piece of Calgary office-to-residential conversions

by Ximena Gonzalez

Crowdfunding investor Nico Choruma, who invested in the Petro Fina Building, which will be converted from an office into a condo, in Calgary, on Oct. 6.

Real estate crowdfunding is a relatively new investment approach that, despite a significant degree of complexity, aims to democratize access to real estate investment by streamlining the investing process and removing some of the barriers to entry. But in an increasingly financialized housing market, the risks related to this type of investment could extend beyond those assumed by individual investors.

“For early stage investors, oftentimes crowdfunding can offer them opportunities to experience direct investment themselves,” says Alixe Cormick, founder and principal of Venture Law Corporation, a boutique securities law firm. “It’s exciting for some people.”

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