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Summit Industrial Income REIT in major growth mode
Summit Industrial Income REIT in major growth mode
Summit Industrial Income REIT could invest $250 million in new real estate this year as it looks to achieve a billion-dollar portfolio in 2018. “I think there are going to be some bigger portfolios coming to the market in the next year or so,” said CEO Paul Dykeman. “If you can land one of those, and do an offering at the same time, then all of a sudden your growth accelerates a little bit further.”
Westdale, Urbanfund buy Dartmouth apartment complex
Westdale Construction Limited and Urbanfund Corp. have agreed to purchase the 1,354-unit Highfield Park multi-family residential portfolio in Dartmouth, N.S. Westdale will have an 80-per cent share and Urbanfund will have a 20-per cent stake in the newly incorporated Highfield Park Residential Inc., which will acquire the portfolio for $113 million from Oxford Properties.
Timing is right for major hotel investments: C & W
A rollback of the welcome mat to many foreign tourists south of the border means Canada’s hotel industry staying strong for at least the next few years, says Curtis Gallagher, vice-president – hotel investments at Cushman & Wakefield. “Canada is very well positioned in the world right now,” he says. Gallagher contributed to the article “Hotel Investments – Timing is Key,” contained in Cushman & Wakefield’s second quarter 2017 report on commercial real estate cap rates across major Canadian markets.
SpaceList, Common Areas team up on online CRE listings
A Vancouver commercial real estate listings start-up has joined forces with an American software company to reinvent and expand its business model. Formed about five years ago, SpaceList said last week it has teamed-up with Common Areas, a software firm from California that created a cloud-based property management platform for building managers to interact with service, security and maintenance firms that do work at a property.
Too hot or too cold – MPAC struggles to find the Goldilocks zone
I don’t want to sound like sour grapes here, but there needs to be a better time to be asking a property owner for a once-a-year income and expense return. I’ve written many times about how important it is for owners of commercial, industrial and multi-residential properties to ensure any information they submit to Ontario’s Municipal Property Assessment Corp. (MPAC) be as timely and accurate as possible.
Six months ago: Durham housing market should remain hot in 2017
Home sales and prices in Ontario’s Durham Region rose significantly last year, and early indicators show no reasons for that trend to slow in 2017. The average residential sale price in the region east of Toronto rose by nearly 20 per cent year-over-year in 2016 to $527,285, while sales rose to 11,700 from 10,910 during the January to October period for those respective years.
One year ago: Property management services for small investors
Real Property Management, which started in the United States more than 25 years ago, is increasing its presence in Canada. The company manages some commercial properties but predominantly works with residential rental units, ranging from single family homes to small apartment complexes.
| Property Biz Canada, Thursday, August 24, 2017 |
| Milborne-led venture revives Port McNicoll Resort Village Property Biz Canada, August 24, 2017 |
| CF Sherway Gardens completes $550M redevelopment Property Biz Canada, August 24, 2017 |
| Stable, steady, growing: That’s Grand Central Properties Property Biz Canada, August 24, 2017 |
| ‘Signs of recovery’ in Calgary CRE market: Barclay Street Property Biz Canada, August 24, 2017 |
| ReDev sells second Edmonton retail property Property Biz Canada August 24, 2017 |
| Slow improvement in Saskatchewan office markets Property Biz Canada, August 24, 2017 |
| Six months ago: SmartREIT teams up with SmartStop on self storage Property Biz Canada, August 24, 2017 |
| One year ago: Fronsac REIT quickly puts new equity to work Property Biz Canada, August 24, 2017 |
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