The Condo Store Group of Companies started in 2006 with the establishment of The Condo Store Inc (TCS) in the newly revitalized neighbourhood of Liberty Village. For several years prior, the founders, Simon S. Mass and John Mehlenbacher, had been informally pooling clients and investing together in bulk pre-construction condominium deals. TCS started as an advisory firm managing pre-construction condominium investments for a group of private local investors and a handful of expatriates living in Europe and the Middle East. Before long, the original client base ballooned into several hundred loyal and dedicated real-estate investors who followed TCS from project to project.
In 2007, The Condo Store Realty Inc (TCSR) was added to accommodate the regulatory and industry needs of the blossoming TCS enterprise. With TCSR, a gamut of turnkey services was established so that clients could have their investments managed under one roof from beginning to end. TCS clients invested in pre-construction projects, then typically either had the properties ‘flipped’ before closing for an impressive return or closed and held the property as an income-generating rental. TCSR managed everything from the initial purchase to property management.
Following a series of successful investments, TCS began to attract accredited investors from across Canada and internationally, including clients from Israel, UAE, United Kingdom, Ireland, China, Korea, and Russia – all from word of mouth. This global group of investors became a tightly-bound syndicate, buying into every deal put forward by the ‘Bulk Program’.
Today, TCS is a full-service brokerage that works diligently with some of Canada’s leading real-estate developers, designing projects suitable for the same bulk transactions that have earned hundreds of investors some of the best returns in their portfolios. Over the last decade, TCS has facilitated annual sales ranging from $50 million in the early years to over $350 million.