Mainstreet a ‘counter cyclical’ investor: CEO Bob Dhillon

Mainstreet a ‘counter cyclical’ investor: CEO Bob Dhillon

Fresh off buying 641 apartment units in its first foray into the Regina market, Mainstreet Equity Corporation is setting its sights on expansion into other new Western Canadian centres. “The expansion story is pretty simple. I’m a counter cyclical investor. I don’t want to be in booming environments wherever they happen to be,” Bob Dhillon, founder and chief executive of Mainstreet, told RENX.

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Mainstreet buys 641 Regina apartments from Boardwalk

Mainstreet Equity Corporation continued bulking up its apartment portfolio with the acquisition of 641 units in Regina, Saskatchewan for $71.65 million from Boardwalk Real Estate Investment Trust. The portfolio consists of 49 properties which are known as Boardwalk Estates, and includes two acres of residual land as well as a warehouse. The buildings contain as many as 35 apartments, but most range from four to 24 units.

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Strathallen markets industrial land north of Toronto

Strathallen Capital Corp. believes the time is ripe to release almost 100 acres of industrial and commercial land just north of Toronto, where land prices have risen rapidly and vacancy rates declined in recent years. The company launched site servicing of the land in Bradford-West Gwillimbury and has sold two parcels that will be developed in 2018.

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Timbercreek builds resort-style apartments in South Ottawa

A South Ottawa neighbourhood is about to see a serious intensification as a result of Timbercreek’s revitalization of its extensive portfolio in the area. Construction is under way as Timbercreek replaces 80 older townhomes – now demolished – with three, six-storey multi-residential buildings in its Herongate apartment complex. The site, at the corner of Heron Road and Sandalwood Drive, will contain 348 units as well as some ground-floor retail built over a podium garage.

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Greybrook, Marlin Spring JV on Toronto Waterfront II

Greybrook Realty Partners Inc. and Marlin Spring have acquired a prime parcel of lakefront Toronto land and will develop a two-tower, mixed-use, high-rise condominium on the site. The towers will provide residents with unobstructed views of Lake Ontario. The plan is for the Waterfront II development to have more than 540 residential units and 11,500 square feet of commercial space.

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Six months ago: Execs offer apartment building insights

Apartment building developers and owners should focus as much on catering to their renters as on the actual properties, according to panelists at the North American New Apartment Construction and Mixed-Use Symposium and Expo in Toronto on June 5. “Investing in and spending on design and innovation is a necessity today if you want to achieve above-average returns,” said Oben Flats president Julian Battiston.

Property Biz Canada

One year ago: Avison Young joins EllisDon carbon initiative

The EllisDon-backed Carbon Impact Initiative (CII) this week announced real estate services firm Avison Young has signed on as a founding partner. The low-profile CII has a high profile mission: make Canada’s real estate industry a leader in the drive towards a low carbon economy. Considering that commercial real estate plays a major role in carbon emissions, it’s a tall order.

Property Biz Canada

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