The Canadian Private Real Estate Podcast: Insights for LPs

Hawkeye Wealth | Canadian Private Real Estate for LPs
  • 0.0 (0)
  • Investing
  • Updated Monthly

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.

Episodes

  1. Jul 28

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

    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 ***

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

  2. Jun 23

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

    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 ***

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

  3. May 26

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

    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 ***

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

  4. Apr 28

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

    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 ***

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

  5. Mar 24

    2: The Biggest Investment Risk in Vancouver's Real Estate Market with The Loonie Hour's Steve Saretsky

    In this episode, we're joined by Steve Saretsky. Steve is the Owner of the Saretsky Group from Vancouver, BC, who is also a Vancouver Realtor, real estate investor, YouTuber, and co-host of The Loonie Hour podcast. Steve is widely considered a thought leader in the industry with regular appearances on Bloomberg, CBC, The Vancouver Sun, and various other media outlets. Steve’s dedication to analyzing the stats, financial landscape, and policies affecting Vancouver Real Estate have allowed him to build a successful business among the top 1% of Greater Vancouver Realtors while working with and providing advisory services to investment advisors, financial institutions, policy makers and real estate developers. The Saretsky Group is a team of trusted real estate advisors working with buyers and sellers of residential property in the city of Vancouver. Steve is here to discuss: → His journey in real estate so far and becoming a successful, no BS market commentator. → Current trends in the Vancouver real estate market, where in 2025 annual home sales in the city dropped to their lowest level in 25 years, and why condo sales have plummeted. → How the market could be stimulated today, the overblown mortgage renewal panic, and market reality vs Realtor bias on social media. → The biggest investment risk today, Vancouver's current rental overbuilding, and the subsequent rental market collapse. → Where Vancouver will be in 5-10 years - 0 new condo development completions, stagnant home values, and the recovery outlook into the 2030s. → Why now could be the best time to buy real estate since 2012, and his predictions for interest rates. → The biggest myth in real estate, it will always go up, and the most impactful investment advice he received. Saretsky Group Website: www.saretskygroup.com Steve Saretsky's LinkedIn: @SteveSaretsky Steve Saretsky's Instagram: @stevesaretsky Steve Saretsky's X: @SteveSaretsky Steve Saretsky's YouTube: @saretsky Steve Saretky's LinkTree: @stevesaretsky The Loonie Hour Podcast Website: www.thelooniehour.ca The Loonie Hour Podcast LinkTree: @looniehour *** CHAPTERS 0:00 Intro 0:26 Today's Guest: Steve Saretsky 3:22 Current Market Trends in Vancouver 5:53 How Long Until the Market Sentiment Turns Positive? 7:57 The Best Time to Buy Real Estate Since 2012 11:02 Are Realtors Being Truthful About the Market on Their Social Media? 12:55 The Biggest Investment Risk - Vancouver's Overbuilding Crisis and Rental Market Collapse 15:02 Vancouver in 5-10 Years - 0 Condo Completions & Stagnant Home Values 19:17 How the Market Could be Stimulated Today 23:42 Overblown Mortgage Renewal Panic 25:16 Interest Rate Predictions 28:56 The Biggest Myth in Real Estate - It Always Goes Up 32:50 Most Impactful Investment Advice - Focus on Today's Asset, Not Future Speculation 33:30 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 ***

    2: The Biggest Investment Risk in Vancouver's Real Estate Market with The Loonie Hour's Steve Saretsky

  6. Feb 24

    1: Vancouver's Shifting Multifamily Market with Fabric Living's Jordan MacDonald

    In this episode, we're joined by Jordan MacDonald. Jordan is the Founding Partner & CEO of Fabric Living from Vancouver, BC, who's career in the real estate industry spans over 20 years. Jordan began as a Junior Analyst at CBRE, followed by 5 years at Cushman and Wakefield as a Sales and Leasing Broker. He then co-founded Frontline Real Estate Services, a multi-disciplinary commercial real estate brokerage based in the Fraser Valley, spending 5 years building Frontline into a market leading commercial real estate brokerage in the Fraser Valley Region before exiting to follow his passion to be a real estate investor and developer.  Jordan founded Fabric Living in 2015, and along with leading the team and overseeing all aspects of the business, his key responsibilities at fabric include sourcing new acquisition opportunities, project envisioning, capital raising, nurturing strategic partnerships and planning Fabric’s future. Jordan is here to discuss: → His journey in real estate so far, co-founding Fabric Living, and the meaning behind their slogan, "not boring". → Trends in the Vancouver multi-family development market including condos, CMHC, and the effects of government and immigration policies. → If developers are leaving the lower mainland, the questions surrounding Vancouver's rental rates, and the future of the area's housing supply. → 3 strategies he's using to respond to market trends involving condos, townhomes, and low-risk, high-reward deals. → What he's most optimistic about in the current market and the implications of AI on real estate development. → The grit required to survive the tough markets and the best early career advice he received - the harder you work, the luckier you'll get. Fabric Living Website: www.fabricliving.ca Jordan MacDonald's LinkedIn: @JordyMacDonald *** CHAPTERS 0:00 Intro 1:34 Fabric Living & Jordan's Journey 4:38 Fabric's "Not Boring" Slogan 6:14 Developer Market Trends 9:10 3 Strategies for the Current Market 14:08 Developers Looking Elsewhere 18:13 Gritting Out the Tough Markets 20:59 Most Optimistic in the Market/Vancouver Rental Rates 25:51 AI's Impact on Real Estate Development 30:08 Best Early Career Advice ***   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 ***

    1: Vancouver's Shifting Multifamily Market with Fabric Living's Jordan MacDonald

  7. Feb 10

    Canadian Private Real Estate Podcast: Insights for LPs Preview

    Welcome to the Canadian Private Real Estate Podcast, hosted by Justin Smith and brought to you by Hawkeye Wealth. Join us in exploring topics and ideas to help Canadian investors thrive in the private real estate markets, including: Emerging commercial real estate market trends and strategies.Data and what it means for your portfolio.Pros and cons of various investment types and structures.Assessing risk in its many forms, particularly risks unique to private real estate. Our goal is to help investors develop a mort informed perspective of private real estate, and most importantly, make better decisions. ***   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 ***

Trailer

About

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.

Information

You Might Also Like