The Home Equity Partners and Sleep Country Canada have entered into a partnership that will provide exclusive offers to HEQ homeowners in Ontario, linking the home equity-sharing company with one of Canada’s largest specialty sleep retailers.
The companies said it will give homeowners who use HEQ access to benefits from Sleep Country. The agreement represents a move by HEQ to add consumer benefits around its home equity-sharing model.
HEQ provides homeowners with access to home equity through a Home Equity Sharing Agreement, or HESA, rather than traditional financing. Under the model, homeowners do not make monthly payments or pay interest, with HEQ instead sharing in the future change in the value of the home.
Sleep Country, meanwhile, has grown from four stores in Vancouver in 1994 to nearly 300 locations across Canada. It has more than 250 stores nationwide.
The partnership will provide HEQ homeowners with exclusive Sleep Country offers, although the companies did not disclose the specific terms or value of the perks.
HEQ founder and chief executive Shael Weinreb said the agreement is intended to expand the benefits associated with the company’s home equity model.
“Homeownership should create opportunities. This partnership is part of how we are redefining the ownership experience and delivering value beyond the equity transaction. Sleep Country is a trusted, national brand that aligns naturally with how Canadians invest in their homes and wellbeing, and the first of many partnerships that will form a broader ecosystem of benefits for HEQ homeowners.”
Sleep Country senior vice-president of brand and marketing Nuno Bamberg said the partnership aligns with the retailer’s focus on helping Canadians improve their sleep.
“Helping Canadians live healthier, happier lives through better sleep is at the heart of everything we do. HEQ shares our commitment to enhancing the homeownership experience, and we’re excited to bring exclusive offers to their growing community of homeowners.”
The agreement comes as part of HEQ’s stated plan to develop additional partnerships around its home equity-sharing model. Weinreb described the Sleep Country agreement as the “first of many partnerships” intended to create a broader benefits ecosystem for HEQ homeowners.
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