IT WAS 2010 AND DR. GREG APPELT HAD HIS OWN PRACTICE IN KELOWNA
Although he was making a good living, he knew at the end of his career, unlike many businesses, his practice would not have built up any equity and would not assist with succession planning. With a young and expanding family (in addition to his young daughter, Greg’s wife was pregnant with twins) it was important for Greg to have a plan for retirement, but he also wanted something to leave to his children. At the same time, thanks to his entrepreneurial instincts and his talent as a doctor, his practice was quickly expanding and was on the verge of outgrowing its space. Instead of sticking to the script and looking for a larger one, Greg decided to take the future into his own hands. He spoke with two of the building’s other tenants and together they decided to build their own medical building.
TOGETHER THEY SECURED THE FUNDING AND WERE ABLE TO BUILD RISE’S FIRST BUILDING IN KELOWNA (BACK THEN IT WAS APPELT MEDICAL DEVELOPMENTS)
Just over a year after they started, the project was complete. Along with the creation of a medical building, something else had taken form, a business model. The project was successful well beyond everyone’s expectations, so they figured they’d try it again. Greg approached some friends from medical school in Winnipeg with the proposal and they quickly got on board.
WORD SPREAD AND GREG WAS FIELDING CALLS FROM ALL OVER CANADA
Other physicians and investors were interested in the model and wanted Greg to put together a project in their city. In five short years, Greg and the team at RISE had built more than 300,000 square feet of commercial real estate and were still regularly getting calls from physicians and business owners asking where the next project was going to be.
HERE WE ARE TODAY
In the beginning, no one predicted that this one idea would morph into the rapidly expanding commercial real estate business it is today, but the team at RISE couldn’t be happier that it did. With a portfolio of first-rate mixed-use buildings across Canada and a host of projects in the works, Greg and the team feel lucky to be growing at such a rapid pace and look forward to reaching our company goal of 4 million square feet of real estate developed and acquired.