TORONTO, Nov. 15, 2024 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today released its third quarter consolidated financial results and announced a monthly dividend to holders of the Company's restricted voting shares.

HIGHLIGHTS

On March 31, 2024, the Company significantly grew its asset base through the acquisition of certain real estate brokerages from Brookfield Business Partners ("Brookfield") and internalization of its management team, and settled deferred distributions owing to Brookfield for total proceeds of approximately $40.9 million.Revenue in the third quarter amounted to $126.8 million, compared to the $12.8 million generated in the third quarter of 2023, reflecting the acquisition completed on March 31, 2024. The Company generated a net loss of $10.8 million or $1.14 per fully diluted share, compared to net earnings of $8.6 million or $0.26 per diluted share in 2023, primarily driven by a loss of $10.8 million on the fair valuation of the Exchangeable Units.Cash provided by operating activities amounted to $2.7 million in the third quarter of 2024, compared to $4.5 million in 2023. The decrease of $1.8 million is driven primarily by increased distributions to holders of Exchangeable Units which were issued to complete the acquisition earlier in the year and increased working capital investment.Adjusted Net Earnings amounted to $2.7 million in the third quarter compared to $3.7 million in 2023, primarily due to higher interest expenses and increased amortization of intangible assets acquired as part of the transaction, partly offset by the operating results of the acquired businesses.The Company generated improved free cash flow of $5.3 million in the third quarter, compared to $5.1 million in 2023.The Board of Directors approved a dividend to shareholders of $0.1125 per Restricted Voting Share, payable on December 31, 2024, to shareholders of record on November 29, 2024.

As falling rates reassure consumers, aspiring recreational homebuyers will firm up purchase plans, Royal LePage predicts

Royal LePage® is forecasting a 7.5% increase in single-family home prices over the next year in popular ski regions across the country.National single-family home prices in Canada's winter recreational market remained flat, posting a 0.4% decrease year over year in the first nine months of 2024.More than one-third (38%) of Royal LePage recreational property market experts reported a surge of inquiries from clients when changes to capital gains tax were announced.Effects of climate change continue to create drier and hotter conditions, increasing reliance on snow-making technologies for winter resorts.

TORONTO, Nov. 4, 2024 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today announced that it will host a conference call on Friday, November 15, 2024, at 10:00 A.M. ET to discuss its third quarter financial results.

To access the call please dial in or connect via webcast as shown below:

To access the call by telephone, please dial 1-888-510-2154 or 437-900-0527.To access the call online, please visit https://app.webinar.net/78eGN8K1WrJ.

Please connect approximately ten minutes prior to the beginning of the call to ensure participation. A transcript of the conference call will be available on the Company's website by Wednesday, November 20, 2024.

TORONTO, Oct. 18, 2024 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today announced a cash dividend of $0.1125 per restricted voting share payable on November 29, 2024, to shareholders of record on October 31, 2024. 

About Bridgemarq Real Estate Services

Bridgemarq is a leading provider of services to residential real estate brokers and a network of more than 21,000 REALTORS® through its franchise network and corporately owned brokerages. We operate in Canada under the Royal LePage®, Proprio Direct®, Via Capitale®, Johnston & Daniel® and Les Immeubles Mont-Tremblant brands. For more information, go to www.bridgemarq.com.

Further rate decreases expected to set the stage for an early spring market

Third-quarter highlights:

The national aggregate home price rose a modest 1.6% year over year in Q3 2024, and decreased 1.1% over Q2.Greater Montreal's aggregate home price increased 5.2% year over year, while the greater Toronto and Vancouver markets showed little change, rising 0.7% and 0.5%, respectively.For the second consecutive quarter, Quebec City recorded the highest year-over-year aggregate price increase (10.5%) in Q3 among the report's major regions.Major markets in the prairie provinces continue to show resilience and strength, as tight supply pushed prices upward in Q3.Royal LePage® expects home prices to remain stable through Q4; forecasts pull-ahead of spring market on expectation of continued easing of lending rates.

Confidence in stabilization of Canada's economy driving sales in this small yet resilient segment of the real estate market

Highlights:

Halifax's luxury real estate market recorded highest year-over-year median price appreciation in the first eight months of 2024, with gains of 8.6%.Luxury property prices in Toronto posted year-over-year increase of 3.9%, while Vancouver and Montreal recorded modest declines of 1.8% and 2.8%, respectively.Sales activity in Winnipeg's luxury market recorded greatest year-over-year increase with 61.9% jump, taking into account low transaction volumes.Royal LePage® experts in all major cities expect increased market activity in the months ahead.

TORONTO, Sept. 18, 2024 /CNW/ - Bridgemarq Real Estate Services Inc. ("Bridgemarq" or the "Company") (TSX: BRE) today announced a cash dividend of $0.1125 per restricted voting share payable on October 31, 2024, to shareholders of record on September 30, 2024. 

About Bridgemarq Real Estate Services

Bridgemarq is a leading provider of services to residential real estate brokers and a network of more than 21,000 REALTORS® through its franchise network and corporately owned brokerages. We operate in Canada under the Royal LePage®, Proprio Direct®, Via Capitale® and Johnston & Daniel® brands. For more information, go to www.bridgemarq.com.