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Dream Office selling Montreal’s 700 de la Gauchetière
Dream Office selling Montreal’s 700 de la Gauchetière
Dream Office REIT has put 700 de la Gauchetière, a 28-storey office building in downtown Montreal, on the market in a sale which should fetch the trust more than $300 million, Colliers International predicts. Built in 1983, the class-A building off Victoria Square in the Quartier International has a gross leasable area of 935,209 square feet.
Minto buys Ottawa’s Manor Village in receivership sale
Minto Capital Management has purchased and will immediately begin upgrading a 111-unit townhouse complex in Ottawa West that had been the subject of headlines in local media during the past year. Minto announced this week it is the new owner of Manor Village, which had been listed by JLL in a receivership process.
Alignvest Student Housing REIT makes first purchase
Alignvest Student Housing REIT has made its first acquisition as it sets out to consolidate what its managing partner calls a highly fragmented Canadian purpose-built student accommodation real estate sector. Alignvest managing partner Sanjil Shah said most purpose-built student accommodations in Canada are owned by local developers and investors.
Lennard Commercial Realty celebrates growth, award
These are exciting times for Lennard Commercial Realty. The Toronto-based firm has doubled its staff during the past five years, relocated to a larger head office to accommodate its growth, and was honoured by NAIOP for a creative lease solution for one of its clients in 2017. “We’re now doing 500 projects a year,” partner and broker Jim Russell said.
There is no fear in Ford Nation
The two or three people out there who didn’t think Doug Ford’s Ontario would be markedly different than that of Kathleen Wynne certainly had their eyes opened during last week’s brief Throne Speech. Lower electricity bills. Lower personal and business taxes. Lower gas prices. Investments in healthcare. Transparent and accountable bookkeeping…
Six months ago: Granite REIT sells 10 Cdn, U.S. properties
Granite REIT has taken a major step toward reducing its exposure to Magna International, its primary tenant, with the $400M sale of 10 properties in Canada and the U.S. “The sale of these properties is another major value creation milestone for Granite. It significantly reduces Granite’s exposure to Magna and the special purpose properties which are key strategic objectives of Granite,” Michael Forsayeth, Granite’s CEO, said in a news release.
One year ago: IKEA to open Richmond distribution centre
Swedish furniture retail giant IKEA is creating a new distribution centre in Richmond, B.C. IKEA said the 330,540-square-foot customer distribution centre just south of Vancouver will be its third in Canada, adding to distribution centres in the Toronto and Montreal areas.
| Property Biz Canada, Thursday, July 12, 2018 |
| Toronto’s latest spec office: Carttera’s 65 King East Property Biz Canada, July 12, 2018 |
| True North eyes seven office buildings, issues $50M in shares Property Biz Canada, July 12, 2018 |
| Artis REIT sells four more Western Canada office buildings Property Biz Canada, July 12, 2018 |
| Vancouver office occupancy costs rise fastest in N. America Property Biz Canada, July 12, 2018 |
| Honest Buildings raises new funds for CRE project software Property Biz Canada, July 12, 2018 |
| A primer on REITs, MICs, funds and SPV investing Property Biz Canada, July 12, 2018 |
| First Capital buys dozen properties, builds two redevelopments Property Biz Canada, July 10, 2018 |
| Six months ago: PIRET to be acquired by Blackstone in $3.8B deal Property Biz Canada, July 12, 2018 |
| One year ago: Chard Development rides Victoria’s economic wave Property Biz Canada, July 12, 2018 |
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