Commercial Real Estate: Harmel Rayat finds the right formula for success – Former stock trader builds up a $145-million portfolio of property assetsFebruary 29, 2016 7:13 pm
VANCOUVER — 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.
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