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Toronto’s latest spec office: Carttera’s 65 King East
Toronto’s latest spec office: Carttera’s 65 King East
Carttera Private Equities Inc. is starting construction of the 400,000-square-foot 65 King East office building in downtown Toronto this month without any confirmed tenants. “I think it’s a weighted risk in going forward on spec,” said Werner Dietl, executive vice-president and regional managing director for the Greater Toronto Area at CBRE.
True North eyes seven office buildings, issues $50M in shares
True North Commercial REIT says it intends to purchase seven office properties in five Canadian cities and is making a $50-million share offering as part of its financing for the purchases. Two buildings are in the Greater Toronto Area, two in Ottawa, one in Calgary and one each in Abbotsford and Victoria, B.C.
Artis REIT sells four more Western Canada office buildings
Artis Real Estate Investment Trust (AX.UN) is continuing to shuffle its portfolio and reduce its position in Alberta, selling four additional Western Canadian office properties for about $157 million, the company announced Tuesday. Three transactions arranged during the second quarter of 2018 have closed, Artis said, while the fourth is to close in Q3. Artis did not disclose the purchasers.
Vancouver office occupancy costs rise fastest in N. America
Strong demand combined with tight supply has pushed office occupancy costs in downtown Vancouver 16.1 per cent higher than a year ago, the biggest price increase in North America. The annual Global Prime Office Occupancy Costs by CBRE found downtown Vancouver prices jumped to USD $47.95 per square foot in the first quarter of 2018.
Honest Buildings raises new funds for CRE project software
A US$30 million round of funding has been closed by New York City-based Honest Buildings, which bills itself as the only project management platform built for and backed by real estate owners. The software is utilized by several Canadian-based property owners and managers, and one of its key investors is First Capital Realty.
A primer on REITs, MICs, funds and SPV investing
In this article we will be discussing different types of pooled investments including Private Direct Investing via Asset Specific Pools, REITs, MICs and Investment Funds. As its name suggests, a pooled investment vehicle, sometimes called a pooled fund, is raised by pooling small investments from a large number of individuals.
Six months ago: PIRET to be acquired by Blackstone in $3.8B deal
Pure Industrial Real Estate Trust announced Tuesday morning it will be acquired by an affiliate of Blackstone Property Partners in an all-cash transaction valued at $3.8 billion. “The trust has accomplished tremendous growth in the 10 years since the initial public offering in August 2007,” said Rick Turner, chairman of PIRET’s board of trustees.
One year ago: Chard Development rides Victoria’s economic wave
Victoria’s property development market over the last 15 years has experienced major swings. The economic tap tends to be either on, or it’s off. “The tap definitely feels on right now,” said David Chard, the president and CEO of Chard Development. The Vancouver-based development firm is currently surfing an economic wave in Victoria.
| Property Biz Canada, Thursday, June 28, 2018 |
| Firm Capital Corp. marks 30 years in business Property Biz Canada, June 28, 2018 |
| Tricon creates $2B JV to buy rental homes in U.S. Property Biz Canada, June 28, 2018 |
| Toronto’s TAS Design Build creates mixed-use library, multi-res Property Biz Canada, June 28, 2018 |
| Apartment financiers to developers: Do your homework Property Biz Canada, June 28, 2018 |
| Interesting times call for investor diligence, not inaction Property Biz Canada, June 28, 2018 |
| Hollyburn acquires Toronto, Calgary multi-res buildings Property Biz Canada, June 28, 2018 |
| Toronto downtown office vacancy hits new low: Devencore Property Biz Canada, June 26, 2018 |
| Six months ago: Mainstreet buys 641 Regina apartments Property Biz Canada, June 28, 2018 |
| One year ago: AHIP REIT purchases large U.S. apartment portfolio Property Biz Canada, June 28, 2018 |
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