Commercial property buyers were willing to spend big in British Columbia last year, but most wanted serious cash flow to come with their investments.

Stable, income-producing properties proved to be the most deal-spurring assets, with massive transactions emerging in nearly every property type including office, industrial, seniors housing and hotel.

The list of largest deals from 2025 was topped by the sale of The Post, Vancouver’s largest-ever office transaction in terms of dollar amount. Notably, the list didn’t include any development land transactions, which typically dominate the biggest deals in the region.

The main takeaway from the list, based mostly on research provided to RENX by CBRE, is that smart capital is returning to B.C. and seeking stable, income-producing properties, said Vincent Minichiello, senior VP, national investment team with CBRE.

"Vancouver is so resilient, and you know that capital is chasing good assets."

Stabilized properties the "gold standard"

Cynthia Jagger, executive VP, national real estate team with CBRE, told RENX ongoing uncertainty in the market made stabilized operating assets "the gold standard" for investors.

Jagger noted that an apartment building sale made the Top-10 list, which is "incredibly unique" for the market.

The Post sold for approximately $1.2 billion in November to Pontegadea. The new office tower, and ambitious renovation project, serves as Amazon’s Vancouver hub and is one of the largest transactions ever in the city. 

"The last time we had a billion-dollar transaction like that was the sale of the Bentall Centre," Minichiello said.

Overall, capital is present and ready to be deployed, but investors are still cautious about exposing themselves to too much risk, he said. 

Jagger said the lack of land transactions is notable, and reflects the challenges in the development market. "Costs have gone up so much, revenues have come off, and so we have a lot of opportunities in the market that are lender-led receiverships," she said. "If there isn’t income in place… there's far less interest from buyers."

Minichiello and Jagger say the deal list shows the B.C. CRE market is “resetting” with a new confidence emerging in the underwriting of large acquisitions. 

The following list includes B.C.'s Top-10 transactions by value, in addition to The Post sale.

2025 largest CRE transactions in B.C.

2) Office portfolio including the remaining stakes in the Marine Building, The Stack, Guinness Tower & MNP Building. Purchased by Oxford Properties in June, the deal totals over 1.2 million sq. ft. and was part of a larger $1.5-billion Western Canada portfolio deal that gives Oxford full ownership of the four buildings in downtown Vancouver.

3) Blueprint Residences apartment complex. Sold for an undisclosed price in November, BGO acquired the newly constructed four-building rental community in View Royal, Victoria. The buy adds 336 purpose-built units totalling over 218,000 sq. ft. to BGO's portfolio. The deal represents the largest single-title multifamily transaction in Vancouver Island’s history. WestUrban was the seller and developer of the project.

4) Hyatt Vancouver Downtown Alberni/Park Hyatt Property (Former Shangri-La). In June, Brookfield Asset Management bought the former Shangri-La Vancouver hotel and adjacent retail space from Westbank and Peterson for $160 million. The 119-room property will undergo a major renovation and reopen as Vancouver’s first Park Hyatt this year.

5) McKeen | Industrial. Located at 1371 McKeen Ave. in North Vancouver, Wesbild sold this 27.5-acre industrial complex in February to Dream Industrial REIT for $143 million. The property spans 860,000 sq. ft. and is 99 per cent occupied by tenants including Lions Gate Marine Centre and Lions Gate Mini Storage.

6) 798 Granville. This retail site, which includes Best Buy, Marshalls and Cafe Crepe among its tenants, is located at the corner of Granville and Robson. It was sold by Bonnis Properties to The GJ Group for $140 million, according to media reports. Future redevelopment plans with the site remain unclear. 

7) Willowbrook Shopping Centre. This Langley shopping centre sold for $137 million in early 2025. Shato Holdings Ltd., led by the Toigo family, acquired the 194,000-sq.-ft. open-air centre. The fully leased centre sits on 20 acres and is anchored by Safeway and home to national tenants like RBC, MEC, Dollar Tree, and Pizza Hut.

8) 700 & 750 West Pender. The twin, 16-storey office towers were sold in the summer for $125 million to KingSett Capital by Cadillac Fairview. The class-B towers total 283,530 sq. ft. and were originally constructed in 1973 and 1976. They're currently 86 per cent occupied, with tenants including Mercer International and Copper Mountain Mining.

9) Distribution Centre (9410 River Road). This industrial property was sold for $115 million, according to media reports. Prologis acquired the 289,000 sq. ft. Tilbury Distribution Centre from Hydro-Québec in March. Positioned in Delta’s Tilbury Industrial Park, the property offers access to major highways, ports and the U.S. border. It has 32-foot clear heights, 51 dock doors and modern logistics specifications.

10) Cottonwood Centre shopping mall. Sold in May for $115 million, Finix Holdings acquired the Cottonwood Centre in Chilliwack from PCI Developments, Northland Properties and Nicola Wealth. It's a 22-acre retail property with 255,810 sq. ft. of leasable space, anchored by major tenants such as London Drugs and Save-On-Foods. 

11) Seasons Wesbrook Village. The seniors rental apartment complex sold in February for $109.77 million. Seasons Retirement Communities, in partnership with Fengate Asset Management, acquired the 148-unit complex at 3308–3382 Wesbrook Mall on UBC’s Vancouver campus from Concert Properties. Now operating as Seasons Wesbrook Village Retirement Home, the property is part of Fengate and Seasons’ first entry into the B.C. market, alongside Seasons Arbutus Walk.