Now that Blackstone has formally opened its Canadian office in downtown Toronto, the world's largest private equity investor is doubling down on its stated goal to increase its Canadian real estate holdings, according to its North American head of real estate.
REITs were introduced in the U.S. in 1960 and are active in 41 countries with a combined population of five billion and comprising 83 per cent of global GDP, REALPAC CEO Michael Brooks said during the RealREIT closing roundtable.
As a taxpayer, nothing’s more unsettling than knowing you’re being treated unfairly. For example: a developer who is constructing a multifamily apartment building reached out with a situation symbolic of a widespread issue in New Brunswick’s flawed property tax system.
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The number of purpose-built apartment transactions, and the size of those deals, has been trending downward. Higher interest rates are one reason for the trend, but other factors are also at play.