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Done deals updated for February 2016
Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market. 

 
 
Burnaby rentals fetch $209,000 per door
While Marine Drive land sells for $12M per acre 

David and Mark Goodman of HQ Commercial, Vancouver, have sold a three-building 121-suite rental apartment portfolio in Burnaby's Highgate neighbourhood. The trio of apartment buildings date to the late 1960s and early 70s, but the price is totally up-to-date. The portfolio sold for $25.4 million, or an average of $209,000 per door. The properties are well maintained and close to the Highgate Shopping Centre, Edmonds Community Centre and various amenities, Mark Goodman said.
The Goodmans also announced the recent sale of a 2.1-acre development site at 850 SW Marine Drive in Vancouver. It sold for $25.2 million, or about $12 million per acre. 

From: Homelife Glenayre Realty Co. Ltd., Surrey. Homelife agent Doug Neetz, with listing agent Todd Brohn of Frontline Real Estate Services, Surrey, sold the following:
Deal: 12,000-square-foot commercial building, Clearbrook Road, Abbotsford. Price: $2.45 million. 

From: NAI Commercial, Vancouver. NAI agent Rick Lui sold the following:
Deal: 11,846-square-foot retail block covering 10,742 square feet with frontage on Denman Street and Haro Street in Vancouver’s West End. Price: $13 million.
NAI agents Terry Harding, Jackson Tang and Brandon Harding announce the following sales:
Deal: 48-unit rental apartment building, corner of Royal Avenue and First Street, near Columbia SkyTrain, New Westminster. Price: $7.5 million. 
Deal: 10-unit apartment building, Sussex Street in Metrotown area of Burnaby. Price: $2.65 million. 
NAI agent Ted Weibalzahl sold the following:
Deal: 37,000-square-foot industrial building on 3.5 acres, Progress Way, Chilliwack. Price: $3.5 million.

From: NAI Commercial, Langley. NAI agent Gary Niesner and NAI vice-president Don MacDonald, report the following:
Deal: 17,028 square feet of retail space divided into 16 CRUs below condominiums, King George Boulevard in South Surrey. Price: $8 million.


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Done Deals updated for January 2016

Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market. This month’s deals represent a value of approximately $3.15 billion.

 
 
 
Chateau Lake Louise among Fairmont hotels sold in $2.9 billion deal.

Landmark Fairmont hotels sold to French chain

Famous and iconic Fairmont hotel properties, including the Chateau Lake Louise and the Banff Springs in Alberta, the Chateau Laurier in Ottawa and Toronto’s Royal York have been sold as part of an international hotel portfolio deal.
French hotel chain Accor is buying the company that owns Canada's Fairmont chain and luxury hotel lines Raffles and Swissotel in a deal worth about US$2.9 billion US in cash and shares.
Accor is buying the company known as FRHI from joint owners Qatar Investment Authority; King Holding Co., the private investment arm of Saudi Prince Alwaleed Bin Talal; and Oxford Properties Group, the real estate division of OMERS, Ontario's municipal workers pension plan, according to an Accor statement. 

From: CBRE National Apartment Group, Vancouver. CBRE senior vice-president Lance Coulson announces the following sale:
Deal: 528-suite Lougheed Village concrete rental apartment complex in Burnaby that includes 50,000-square feet of retail space on a 7.3-acre site. It was sold for Beach Properties of Vancouver to Starlight Investments of Toronto. Price: $160 million. 

From: NAI Commercial, Vancouver. NAI agent Aleem Thaver sold the following:
Deal: 144-door Best Western Plus Downtown hotel, Drake Street, Vancouver. Price: $40 million.
NAI agents Terry Harding, Jackson Tang and Brandon Harding report the following sales:
Deal: 14,.506-square-foot high-rise mixed use development site, Brentwood area of Burnaby, near SkyTrain. Price: $3.21 million.
Deal: 9,858-square-foot site with potential for 27,712 square feet of development, near SkyTrain on Royal Oak Avenue, Burnaby. Price: $2.3 million. 
NAI agents Gary Niesner, Chris Langhaug and Don Macdonald sold the following:
Deal: 10,524-square-foot free-standing commercial building, Fraser Highway in downtown in City of Langley. Price: $2 million. 
 
From: Avison Young, Vancouver. Avison Young agents Rob Greer and Chris Wieser sold the following:
Deal: 40-suite concrete high-rise rental apartment, Broughton Street in Vancouver’s West End. Price: $11.6 million. 

From: HQ Realty, Vancouver. HQ agents David Goodman and Mark Goodman report the following sale:
Deal: 127-suite, three-building apartment complex, Highgate area of Burnaby. Price: $26.9 million (sic).

From: Gaetz Realty Inc., Edmonton. Gaetz agent Bob Gaetz reports the following sale:
Deal: 106 acres of industrial land, highway frontage, in Innisfail, Alberta, to Alco Industries. Price: $1.5 million.

From: Extendicare Inc. Toronto. Extendicare announces the following acquisitions:
Deal: Two senior living homes in Saskatchewan (Regina and Saskatoon) from Brightwater Senior Living Group. Price: $50 million. 
Deal: Two senior living homes with 158 suites currently under construction in Moose Jaw and Yorkton. Price: $40.5 million

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Done Deals updated for December 2015


528-suite Lougheed Village complex sold for an estimated $160 million.
 
Trophy rental sale highlights multi-family market 

Beach Properties of Vancouver may have made as much as $70 million on the sale of Burnaby’s Lougheed Village rental apartment complex that it bought three years ago.
Lougheed Village has 528-suites in two 24-storey and two eight-storey concrete towers. The 7.3-acre parcel, close to the Burnaby-Coquitlam border and a SkyTrain station, also contains 50,000 square feet of retail space.
It was sold to Toronto-based Starlight Investments in a deal brokered by Lance Coulson, senior vice-president of CBRE National Apartment Group. It is the largest multi-family sale in B.C. in recent years and caps a white-hot market in Metro Vancouver during 2015.
Beach Properties purchased the Lougheed complex in May of 2012 for a reported $90 million. Citing confidentially agreements, Coulson could not release the most recent sale price, but two industry sources have estimated it went for $160 million. 

From: Persis Holdings Ltd., Vancouver. Persis has announced the following acquisition:
Deal: The 199,138-square-foot University Heights Shopping Centre, set on 10.7 acres in Saanich, near Victoria. Price: $52 million. 

From: William Wright Commercial, Vancouver. William Wright agent Cory Wright reports the following:
Deal: 45,108-square-foot retail and office complex on a 122,348-square-foot corner lot, Chilliwack, with nine retail tenants and three office tenants. Price: $10 million. 

From: JLL national multi-residential investment team, Edmonton. JLL agents Samuel Dean, Paul Gemmel and David Parker brokered the following:
Deal: 96-unit rental apartment building, close to Southgate Mall and transit station, Edmonton. Price: $14.68 million. 
Deal: 32-unit concrete mid-rise apartment building, downtown Lethbridge. Price: $4.5 million.

From: Avison Young, Vancouver. Avison Young principals Rob Greer and Chris Wieser report the following:
Deal: 54-suite rental apartment building, Fulton Street, Burnaby. Price: $10.18 million. 

From: Re/Max First Realty, Parksville. Re/Max agent Ken Droog reports the following:
Deal: Maple Ridge Cottages, Tripp Road, Salt Spring Island. This is a lakefront commercial rental package with five cottages and a main house on 1.63 acres. Price: $1.1 million.

From: Melcor Real Estate Investment Trust, Toronto. Melcor announces the following acquisitions:
Deal: 50 per cent interest in a 43,116-square-foot retail centre in Chestermere, Alberta; and a 10,091-square-foot industrial building in Leduc, Alberta. Total price: $15.25 million. 

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Done Deals updated for November
Our readers report on recent commercial real estate deals across Western Canada

Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market. This month’s deals represent a value of $74 million.
 
33,546-square-foot commercial building close to Canada Line station, Richmond, sold for $24.25 million.

From: Cushman & Wakefield Ltd., Vancouver. Cushman & Wakefield vice-presidents Brad Newman-Bennett and Scott McPherson, report the following:
Deal: 33,546-square-foot office and retail building close to Canada Line station, Saba Road, Richmond. Price: $24.25 million.

From: JLL national multi-residential team, Edmonton. Jll agents Samuel Dean, Paul Gemmel and David Parker brokered the following: 
Deal: 96-unit rental apartment building, close to Southgate Mall and LRT, Edmonton. Price: $14.68 million.
Deal: 32-unit concrete mid-rise apartment rental building, downtown Lethbridge. Price: $4.5 million.

From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Bradley Gingerich reports the following sale by the group:
Deal: 6.23-acre multi-residential development land parcel, Bellerose Drive in St. Albert. Price: $4.42 million. 

From: NAI Commercial, Vancouver. NAI vice-president Peter Seed reports the following:
Deal: 23,628-square-foot Columbia Medical Plaza with a total of 16 offices and retail tenants, adjacent to Royal Inland Hospital, Kamloops. Price: $8.45 million. 

 From: William Wright Commercial, Vancouver. William Wright broker Cory Wright reports the following:
Deal: 13,886-square-foot mixed retail and residential rental building on corner lot, East Broadway, Vancouver, with 3 FSR (floor-space-ratio) development potential. Price: $5.3 million. 

From: Cushman & Wakefield Edmonton. Cushman & Wakefield investment associate Brandon Kuhn sold the following:
Deal: Eight-suite apartment building in Strathcona near the University District, Edmonton. Price: $1.075 million.

From: Re/Max Penticton Realty, Penticton. Re/Max agents John Green and Keith Jakes report the following:
Deal: 24-suite, three-storey rental apartment building on 0.56-acre lot, central Penticton. Price: $2.3 million.

From: Frontline Real Estate Services, Surrey. Frontline agents Justin Mitchell and Owen Yates, with buyer agents Jas Sandhu and Girvinder Brar of Coastal Realty Ltd - Century 21 Canada report the following:
Deal: 2.8 acres of residential development land, 86th Avenue, Langley. Price: $4.68 million. 

From: Colliers International, Vancouver. Colliers’ senior associates Mike Grewal and Brent Heed report the following:
Deal: 12,979-square-foot mixed-use retail and four strata residential building on 27,583-square-foot lot, 62nd Avenue, Surrey. Price: $5.2 million. 
 
Recently completed a major commercial real estate deal? Send particulars here for a free listing in Done Deals. Send to This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 
Done Deals updated for October
Our readers report on recent commercial real estate deals across Western Canada

Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s commercial real estate market. This month’s deals represent a value of more than $816 million.

 
 
Canadian Apartment Properties REIT bought a 19-building, 119-door apartment portfolio in Metro Vancouver for $170 million.
- CBRE National Apartment Group

CAPREIT buys 19 Metro apartment buildings 

The CBRE National Apartment Group, Vancouver, sales team of Lance Coulson, Tony Quattrin and Jim Szabo brokered the sale of a 19-building rental apartment portfolio to Toronto-based Canadian Apartment Properties Real Estate Investment Trust. All of the buildings are in suburban Metro Vancouver. The purchase price is $170 million. “We are very excited to be expanding our presence in the strong and vibrant Vancouver apartment market,” said Thomas Schwartz, President and CEO. It is considered the largest multi-family transaction in B.C. in many years, according to Coulson. 

From: Baybridge Seniors Housing Inc. Toronto. Baybridge, a subsidiary of the Ontario Teachers Pension Plan Board, announces the following acquisition:
Deal: 24 luxury senior residences in B.C., Alberta and Ontario purchased from Amica Mature Lifestyles Inc. in an all-cash deal. Price: $578 million. 

From: Frontline Real Estate Services, Surrey. Frontline agent Todd Bohn sold the following:
Deal: 2.4-acre development site opportunity, 86th Avenue, Langley. Price: $2.2 million. 

From: Monark Group, Surrey. Monark sales manager Danny Camele reports the following: 
Deal: 26,250 square feet of land sold for redevelopment to mixed-use commercial/residential, Renfrew Street, Vancouver. Price: $9 million. 

From: London Pacific Property Agents Inc., Burnaby. London Pacific agents Ben Williams and Thomas Trowbridge report the following:
Deal: Four-lot land assembly, total of 21,265 square feet in Marpole area, Vancouver. Price: $5.7 million
Deal: Two-lot land assembly, total of 11,216 square feet, Marpole area of Vancouver. Price: $4 million. 
London Pacific agent Ben Williams with Bill Goold of Re/Max Bill Goold Realty, report the following:
Deal: 420,135-square feet of gross residential development land, Metrotown area of Burnaby. Price: $38.7 million.

From: NAI Commercial, Vancouver. NAI agents Terry Harding, Jackson Tang and Brandon Harding report the following:
Deal: 24-unit rental apartment building, close to New Westminster SkyTrain station. Price: $3.81 million. 

From: DTZ Nanaimo Real Estate Ltd., Nanaimo. DTZ agent Randall Taylor reports the following:
Deal: Two properties, totaling 2.76 acres and zoned for mixed-use development, central Nanaimo. Price: $1.75 million. 

From: Avison Young, Vancouver. Avison Young vice-presidents Michael Farrell and John Eakin report the following: 
Deal: 45,408-square-foot industrial warehouse on a 2.3-acre site, 103A Avenue, Surrey. Sold in an off-market transaction. Price: $3.25 million.

From: Re/Max Bill Goold Realty, Vancouver. Re/Max Bill Goold broker/owner Bill Goold reports the following:
Deal: 62-unit rental apartment building on a 52,272-square-foot lot, Union Avenue, Abbotsford. Price: $6.3 million.
Deal: 10-unit rental apartment building, Fir Street, White Rock. Price: $1.96 million.
Deal: 28-unit strata-titled apartment building, Campbell River, B.C. Price: $2 million.
Deal: 192-unit rental apartment building on 3.46 acres, Langley. Price: $20.63 million. 
Deal: 192-unit rental apartment building on 17,160 square foot lot, Prince George. Price: $1.73 million.
Re/Max Bill Goold agent James Blair reports the following:
Deal: 23-unit rental apartment building on .75 acres, Cranbrook, B.C. Price: $1.7 million.

From: William Wright Commercial, Vancouver. William Wright agent Cory Wright reports the following:
Deal: 1,734-square-foot retail investment property, Hamilton Street, Vancouver. Price $2 million. 

Completed a major commercial real estate deal? Send particulars for a free listing here. Email to wieditor@ biv.com 

 
Done Deals updated for September

Done Deals is our monthly feature highlighting some of the major real estate transactions completed recently in Western Canada’s vibrant commercial real estate market. This month’s deals represent a value of more than $3 billion.

Northern Property REIT apartment building in Fort St. John.
- NP REIT 

NP REIT expands with $3B portfolio acquisitions

Calgary-based Northern Property Real Estate Investment Trust (NP REIT) has purchased True North Apartment and a 4,650-suite rental apartment portfolio from Starlight Investments Ltd. 
The $3 billion deal, announced August 10, creates Canada’s third largest residential apartment REIT and expands NP REIT nationally from its western Canadian roots. Following the acquisitions, NP REIT owns nearly 25,000 rental suites in eight provinces and two territories. 
As part of the transactions, NP REIT will change its name to Northview Apartment Real Estate Investment Trust to reflect the new national character of its portfolio.

From: Sutton West Coast, Harrison Hot Springs. Sutton agent Freddy Marks reports the following.
Deal: 13,500-acres of managed forestland, south of Nelson, B.C. Sold to a Germany-based investor. Price: $10.19 million. 

From: London Pacific Property Agents Inc., Burnaby.  London Pacific agents Ben Williams and Thomas Trowbridge report the following:
Deal: Four-lot land assembly, total of 21,265 square feet in Marpole area, Vancouver. Price: $5.7 million
Deal: Two-lot land assembly, total of 11,216 square feet, Marpole area of Vancouver. Price: $4.06 million. 
London Pacific agent Ben Williams with Bill Goold of Re/Max Bill Goold Realty, report the following:
Deal: 420,135-square feet of gross residential development land, Metrotown area of Burnaby. Price: $38.78 million.

From: DTZ, Vancouver. DTZ agent Steve Caldwell reports the following sales:
Deal: 21,792-square-foot industrial/office building on 2.26 acres, United Boulevard, Coquitlam. Price: $4.97 million.
Deal: 25,178-square-foot industrial complex on one acre, Greenwood Street, Burnaby. Price: $4.18 million. 
DTZ agents Sebastian Espinosa and Steve Caldwell report the following sale:
Deal: 14,756 square foot heavy freestanding industrial building on a 27,268-square-foot lot, 97th Avenue, Port Kells, Surrey. Price: $2.1 million. 

From: CBRE National Apartment Group, Vancouver. CBRE senior vice-president Lance Coulson reports the following:
Deal: 58-unit rental apartment building, newly built in Langley. Price: $17.02 million.

From: Jones Lang LaSalle (JLL) national multi-residential investment team, Edmonton. JLL agents Paul Gemmel, David Parker and Samuel Dean, in cooperation with Colliers, sold the following:
Deal: 173-unit rental apartment complex, St. Albert. Price: $37.69 million.

From: Dexter Associates, Vancouver. Dexter agents Kris Pope and Tyrone Robinson sold the following:
Deal: 16-unit rental apartment building, East 3rd Avenue, North Vancouver. 
Price: $4.25 million.

From: Cushman & Wakefield, Edmonton, Cushman & Wakefield investment associate Brandon Kuhn sold the following:
Deal: 18-suite rental apartment building, located off of Whyte Avenue in Strathcona, Edmonton. Price: $2.6 million. 

From: Frontline Real Estate Services, Langley. Frontline agent Todd Bohn, with Stirling Richmond of CBRE Limited, sold the following:
Deal: 52,000-square-foot shopping centre on Vedder Road, Chilliwack. Price: $15.17 million. 

From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Bradley Gingerich reports the following sale: 
Deal: 3.8-acre development site, zoned RA7 (multi-family development), 78 Street NW, Edmonton. Price: $3.76 million. 

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