REALpac/IPD index trumped by takeover talk

REALpac/IPD index trumped by takeover talk

Rumoured takeovers of large Canadian REITs and evolving buying opportunities in Calgary overshadowed Wednesday’s release of the REALpac/IPD Canada Quarterly Property Index in Toronto.

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Veritas, Ivanhoe build portfolio, partnership

Veritas Investments and Ivanhoé Cambridge strengthened their partnership last month with the acquisition of 16 multi-family properties in San Francisco for approximately $275 million Cdn. “We’re still looking at acquiring more with our partner, Ivanhoé Cambridge,” Veritas chief executive officer Yat-Pang Au, who founded the company in 2007, said Monday.

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InnVest REIT’s Ottawa Marriott buy prompts selloff

The upgrade of InnVest REIT’s hotel portfolio continued with the completion of its latest acquisition, the Ottawa Marriott, a $115-million deal that gives it an upscale downtown property and also prompts it to sell older properties. “We like Ottawa as a market, so we wanted to find the right hotel in the city centre of that market,” said Drew Coles, InnVest’s president and chief executive.

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Calgary office market recovery a waiting game

The depressed state of the Calgary office market evokes memories of the city’s situation seven years ago. What’s still unknown is if it will recover as quickly this time around.

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The Oliver brings luxury apartments back to Edmonton

The Oliver, Edmonton’s first luxury, purpose-built concrete rental property in more than a decade, will begin welcoming residents this month.

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Why pay ‘full value taxes’ on land you can’t use?

In theory, it’s pretty simple — a property’s assessment is based on its size, attributes, intended usage and local market conditions. But sometimes, a property has restrictions placed on what it can be used for. The most common are of course municipal zoning — e.g. residential versus commercial purposes, height restrictions and the like.

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An economic disconnect between CRE and residential?

Whether there is a tangible disconnect between commercial and residential real estate is difficult to say. It can be common to see strength in one sector and not in the other.

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The project sales team is your secret weapon

For years now, in the real world outside planning documents, timelines and spreadsheets, the disconnect between sales and marketing has been pronounced and dysfunctional. If you can fix this in your project, it will be your secret weapon.

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Six months ago: RBC REIT report sheds light on sector

In its latest quarterly REIT report, RBC Capital Markets explores a subject that should interest most investors: what does it cost to run a REIT? It also considers growing market risks and how Canadian REITs stack up internationally. The answer provided by RBC analysts Neil Downey and Michael Smith is generally a positive view.

Property Biz Canada

One year ago: OSC REIT report least of analyst’s worries

When it comes to real estate operating companies and REITs, Euro Pacific Canada analyst Rob Sutherland is more concerned about interest rates, inflation and the economy in general than about the Ontario Securities Commission’s recent warning shot. The OSC published a report that found 33 per cent of Ontario-based REITs it reviewed paid distributions which exceeded their cash flow from operations.

Property Biz Canada

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