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Done Deals updated for August
 
 
 
The 224-room Hotel Saskatchewan will be branded a Marriott after latest sale.
- Temple Hotels

Our readers report on recent commercial real estate deals across Western Canada
 
Regina’s Saskatchewan Hotel sold for $37 million

Regina’s landmark Hotel Saskatchewan has been bought by Toronto-based InnVest Real Estate Investment Trust for $37 million. The deal is expected to close this September.
The 224-room hotel will be rebranded from the Radisson chain to Marriott late this year, according to a news release.
It’s the second time the hotel has been sold since Temple Hotels acquired it for $32.8 million in April 2014. The 10-storey hotel, which opened in 1927, was originally part of a chain of hotels built and owned by Canadian Pacific Railway.

From: Malahat Nation, Mill Bay, B.C. The 300-member Malahat Nation reports the following purchase:
Deal: 1,297 acres of land next to Mill Bay on Vancouver Island. The land was purchased from Bamberton Properties LLP. Price: $37.5 million. 

From: DTZ Victoria. DTZ vice-president Randy Holt reports the following sale:
Deal: The 23-room Abigail Hotel, Victoria, sold to a numbered company based in White Rock, B.C. Price: $5.07 million. 

FROM: CBRE National Apartment Group, Vancouver. CBRE senior vice president Lance Coulson sold the following: 
Deal: 23-suite Spring Ridge Apartments, a rental apartment on Balmoral Road in Victoria’s Fernwood neighborhood.? Price: $1.92 million.
 
From: Jones Lang Lasalle (JLL) National Multi-Residential Investment Team, Edmonton. JLL agents Paul Gemmel, David Parker and Samuel Dean sold the following:
Deal: 64-unit rental apartment complex, North Edmonton. Price: $6.88 million.
Deal: 22-unit rental apartment building, Oliver neighbourhood of Central Edmonton. Price: $3.25 million. 

From: Avison Young, Vancouver. Avison Young principal Chris Weiser reports the following sale:
Deal: 24-suite rental apartment building, Nelson Street in Vancouver’s West End. Sold vacant after extensive renovations. Price: $9.08 million. 

From: NAI Commercial, Vancouver. NAI agent Ted Weibelzahl sold the following:
Deal: 26,639-square-foot industrial building, 185A Street, Cloverdale. Price: $4.33 million.
 
From: Dexter Associates, Vancouver. Dexter agent Tyrone Robinson sold the following:
Deal: 16-unit rental apartment building, East 3rd Avenue, North Vancouver. 
Price: $4.25 million.

From: Fortis Inc., St. John’s NL. Fortis reports the following portfolio transaction
Deal: 22 hotels in seven provinces sold as a portfolio to an unnamed private investor group. Price: $365 million.

Closed a recent major commercial deal? Send the details for a free posting in Done Deals. Send to This e-mail address is being protected from spambots. You need JavaScript enabled to view it  

 
Done Deals update for July
Our readers report on recent commercial real estate deals across Western Canada

Eighth floor office space at Jameson House sold for $640 per square foot.
- NAI Commercial

Jameson House office space sells for $4.7 million
 
Jameson House, the landmark mixed-used tower in downtown Vancouver by Foster & Partners that was among the last large-scale strata commercial projects in Vancouver, has seen the recent sale of office space at $640 per square foot.
NAI Commercial of Vancouver agents Alf Sanderson and Delon Cheung closed the sale of the 7,416-square-foot offices for $4.75 million on June 12. 

From: NAI Commercial, Vancouver. NAI agents Ken Kiers and Ken Hick report the following sales:
Deal: Self-storage complex with 471 units and a 3.9-acre lot in Sherwood Park, Alberta. Price: $15.7 million.
NAI agent Anne Chow reports the following sale:
Deal: 14,626-square-foot commercial building with development potential on a 20,212-square-foot site, Royal Oak Avenue, Burnaby. Price: $4.2 million
NAI agents Terry Harding, Jackson Tang and Brandon Harding report the following sale:
Deal: 23-unit rental apartment building, Third Avenue, New Westminster. Price: $3.35 million.
NAI agents Angie MacDonald and Don MacDonald report the following sale:
Deal: 11,464-square-foot industrial building on a 23,921-square-foot lot, Logan Avenue, Langley Price: $1.85 million.

From: CBRE National Apartment Group, Vancouver. Senior vice- president Lance Coulson and sales representative Greg Ambrose report the following:
Deal: 22-suite rental building on West 14th Avenue, Vancouver.? Price: $6,180,000
Deal: 23-suite rental building on Marlborough Avenue, Burnaby. ?Price: $4.42 million. 
Deal: 20-suite rental building on West 6th Avenue, Vancouver. ?Price: $6.18 million. 
 
From: Jones Lang Lasalle (JLL) National Multi-Residential Investment Team, Edmonton. JLL agents Paul Gemmel, David Parker and Samuel Dean sold the following:
Deal: 144-unit rental apartment complex, west Edmonton. Price: $20.88 million.
Deal: 35-unit rental apartment building, 91 Avenue, South Edmonton. Price: $5.60 million
Deal: 18-unit rental apartment building, 82 Street, Central Edmonton. Price: $1.872 million.
Deal: 17-unit rental apartment building, 7th Avenue, Lethbridge. Price: $1.5 million.

From: Cushman & Wakefield Edmonton, Cushman & Wakefield investment associate Brandon Kuhn sold the following:
Deal: 22-suite apartment building, located in Queen Mary Park area, Edmonton. Price: $2.5 million.

From: Coldwell Banker Commercial Horizon Realty, Kelowna. Coldwell Banker agent Tim Down sold the following;
Deal: 14,3090-square-foot commercial building on 0.57 acres, Baron Road, Kelowna. Price $2 million. 
Coldwell Banker agents Tim Down and Gary Bowker sold the following:
Deal: 5,280-square-foot, second floor commercial strata unit, Springfield Road, Kelowna. Price $880,000.
Coldwell Banker agent Gary Bowker sold the following:
Deal: 31,892-square-foot industrial building on two acres, Enterprise Way, Kelowna. Price $4.4 million

From: Re/Max Complete Commercial, Calgary. Re/Max agent Mike Blayney sold the following:
Deal:11,632- square-foot neighbourhood strip retail centre on 0.7 Acres, 153 Ave SE Calgary. Price $2.9 million.

From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Bradley Gingerich reports the following sales:
Deal: 179 residential suites plus commercial space in a high-rise rental apartment building, 101 Street NW, Edmonton. Price: $14 million.
Deal: 2.52-acre development site on Millbourne Road West, Edmonton. Price: $3.4 million. 

From: Lighthouse Realty Ltd., Abbotsford. Lighthouse agent Bill Summers reports the following sale:
Deal: 43-pad mobile home park with owner residence on five acres, 232 Street, Maple Ridge. Price: $4 million. 

From: Re/Max Bill Goold Realty Ltd., Vancouver. Re/Max agent Bill Goold reports the following sales:
Deal: 21-unit townhouse rental building, Prince George. Price: $1.87 million.
Deal: 22-unit rental apartment building, Hilside/Quadra area, Victoria. Price: $2.78 million.
Deal: 64-unit rental apartment building on 69,354-square-foot lot, Metrotown area, Burnaby. Price: $16.15 million.
Deal: 16-unit rental apartment building, Ladner. Price: $2.49 million.
Deal: 23-unit rental apartment building, South Jubilee, Victoria. Price: $2.3 million. 

From: HQ Commercial, Vancouver. HQ agents Nhi Dennis, David Goodman and Mark Goodman report the following sale.
Deal: Two-acre commercial property, a future development site in South Vancouver. Price: $25 million. 

From Shindico Realty Ltd., Winnipeg. Shindico principal Sandy G. Shindleman reports the following leases:
Deal: 15,000-square-foot industrial lease, Mountain View Road, Winnipeg. 10 year lease. Price: $2.8 million. 
Deal: 19,498-square-foot retail lease, Portage Avenue, Winnipeg.
10-year lease. Price: $3.99 million. 
Deal: 11,595-square-foot office lease, 15th floor. Seven-year lease. Price: $1.56 million.
Deal: 6,081-square-foot retail lease to Dollarama, St. Mary’s Road, Winnipeg. 10-year lease. Price: $1.14 million. 

Recently completed a major commercial real estate deal? Send particulars for a free listing here to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
Done Deals updated for June


Fairmont Hotel Vancouver was bought by Larco Hospitality.
- Ivanhoe Cambridge 


Fairmont Hotel Vancouver sold for $180 million 

Quebec-based Ivanhoe Cambridge, the real estate arm of Quebec’s provincial pension fund, has sold the venerable Fairmont Hotel Vancouver to West Vancouver-based Larco Hospitality. The price for the 556-room landmark hotel in downtown Vancouver was $180 million. 
The sale continues a record pace for hotel transaction in Canada. In 2014, hotel transactions hit $1.4 billion, stretching an eight-year string with national hotel property sales of more than $1 billion. Last year, B.C. hotel sales accounted for 24 per cent of the total dollar volume for Canadian hotel transactions, according to Colliers Canada. 
 
From: Cushman & Wakefield, Edmonton. Cushman & Wakefield investment associate Brandon Kuhn sold the following:
Deal: 22-suite apartment building, located in Queen Mary Park area, Edmonton. Price: $2.5 million
 
From: Avison Young, Vancouver. Avison Young principals Chris Weiser and Rob Greer with Rob Hunter of Devon Properties report the following sale:
Deal: 73-suite oceanfront apartment complex next to the Nanaimo Yacht Club, Nanaimo. Price: $7.88 million. 

From: Cushman & Wakefield Ltd. Capital Markets Group, Vancouver. Cushman & Wakefield vice-presidents Brad Newman-Bennett and Scott MacPherson report the following:
Deal: 21,942-square-foot, five-storey retail/office building, Water Street, Vancouver. Price: $10.4 million.

From: Colliers International, Edmonton. Colliers’ agents David Kraus, Darryl McGavigan, and Angela Wu-Kemp report the following sale:
Deal: 35,239-square-foot industrial manufacturing facility in Nisku. Price: $8.75 million.
PHOTO NAI DELTA

From: NAI Commercial, Vancouver. NAI agent Doug O’Neill reports the following sales:
Deal: 13,000-square-foot industrial building on 2.25 acres, Fosters Way, Delta. Price: $4.7 million. 
Deal: Three-acre development site, 96 Avenue, Langley. Price: $4.2 million.

From: Colliers International, Vancouver. Colliers senior vice-president Sam Nakhleh reports the following sale:
Deal: 3,488-square-foot, free-standing retail building, Panorama Drive, Coquitlam. Price: $1.41 million. 

From: Colliers International, Vancouver. Colliers vice-president Brian McKenzie, with Macdonald Realty agents Wayne Tullis and Ashley Tullis reports the following sale:
Deal: 15,000-square-foot (sic) vacant industrial building, Broadway Street, Port Coquitlam. Sold to the Electrical Workers Pension Plan. Price: $3.35 million. 

Recently completed a major commercial real estate deal? Send particulars for a free listing here to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
Done Deals updated for May

Clubhouse at Surrey Golf Club. 

 “Profitable” Surrey Golf Course sold for $15 million

NAI Commercial of Vancouver has sold the Surrey Golf Club on 168th Street, Surrey, for $15 million to an unnamed investor.
Business in Vancouver rated Surrey Golf Club as the busiest public golf course in Metro Vancouver for 2007-2013, with the most rounds played. The club has been in operation since 1971. “It’s a profitable business,” said NAI senior associate J.D. Murray.
The 27-hole course totals 163 acres, and is zoned for golf course and other various ancillary uses. The sale includes the 10,000-square-foot clubhouse with an 80-seat lounge, 150-seat banquet room, pro shop, and administration offices. In addition, a maintenance building, all equipment and inventory were included in the sale.

From: JLL Specialized Assets, Vancouver. JLL agents Allan Johnston and Mark Lester report the following sale.
Deal: 360-acre oceanfront Wyndansea property, Ucluelet, Vancouver Island. Sold in court-ordered sale to Onni Group, Vancouver. Price (estimated/undisclosed): $7.95 million. 

From: CBRE National Apartment Group, Vancouver. CBRE senior vice president Lance Coulson sold the following.
Deal: 27-suite rental apartment building on Burnaby Street in Vancouver’s West End. Price: $7.3 million.
 
From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Bradley Gingerich reports the following sale:
Deal: 3.73-acre mixed-use residential development site, Erin Ridge lands, St. Albert. Price: $3.26 million.

From: Frontline Real Estate Services, Langley. Frontline agent Garth White and buyer agent Rob Blair of Re/Max Treeland Realty sold the following:
Deal: 16,200-square-foot industrial building, Telegraph Trail, Langley. Price: $2.25 million.
Frontline agent Garth White and seller agent Bill Hobbs of Cushman & Wakefield Ltd. sold the following:
Deal: 3.9-acres of industrial land, 21st Avenue, Surrey. Price: $3.45 million. 

From: London Pacific Property Agents Inc., Burnaby. London Pacific agents Ben Williams and Thomas Trowbridge sold the following:
Deal: Three-lot land assembly, approximately 21,265 square feet for development on West 63 Avenue, Vancouver within the Marpole Community Plan. Price: $5.7 million. 

From: JLL National Multi-Residential Investment Team. JLL agents Paul Gemmel, David Parker and Samuel Dean sold the following:
Deal: 86 suite hotel, Alberta Place Hotel, downtown Edmonton, which is to be converted into rental apartments by new owners, Starlight Investments. Price: $15.75 million. 


Recently completed a major commercial real estate deal? Send particulars for a free listing here to This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 
Done Deals updated for April 2015
 
Western Investors readers report on major commercial real estate deals across Western Canada 


Old Telus tower sold to Avigilon

Vancouver-based Avigilon is ready to pay Telus $42 million for a 135,000-square-foot Robson Street office tower. The tech company has put down a $2 million deposit and experts to close the deal by October. The nine-storey building, located at the corner of Robson and Seymour streets sits adjacent to the $750-million Telus Garden development. The Robson Street tower was the former Vancouver headquarters for Telus. 
Avigilon is expected to begin moving its Vancouver-based employees from its office on Beatty Street, near B.C. Place, into the new tower by 2016.

From: DTZ Victoria Real Estate Ltd. DTZ agent Randy Holt sold the following:
Deal: 40-acre, 77-room Pacific Sands Resort, Cox Bay, Tofino. Sold to 
Gordon Nelson Inc., Vancouver, on behalf of the Pettinger family. Price (from sources)
$23 million.

From: Sutton West Coast, Harrison Hot Springs, B.C. Sutton West Coast managing broker Freddy Marks sold the following:
Deal: 675-acre Moon Meadow Ranch, Williams Lake and the 940-acre Davies Meadow Ranch, Williams Lake. Sold together to a local investor. Price: $1.4 million.

From: Capital Markets Group, Vancouver. Capital vice-presidents Brad Newman-Bennett, Scott MacPherson and David Canning report the following:
Deal: Four industrial properties, North Vancouver, sold as the Cove Warehouse portfolio. Price: $13.91 million.
Capital senior vice-president Kevin Meikle, Brad Newman-Bennett and Scott MacPherson report the following:
Deal: 72,551-square-foot office building, Cambie Street, Vancouver. Price: $21.5 million.
Brad Newman-Bennett and Scott MacPherson report the following:
Deal: 13-unit rental apartment complex, Chesterfield Avenue, North Vancouver. Price: $3.0 million.
Deal: 158-acre single-family development site, Grande Prairie. Price: $9 million.
Brad Newman-Bennett, Scott MacPherson and Capital agent Brett Aura report the following:
Deal: 154-rental apartment building on 4.07 acres, Whalley Boulevard, Surrey. Price: $18.5 million.

From: Avison Young, Vancouver. Avison Young vice-president Chris Weiser reports the following:
Deal: 22,470-square-foot residential development site, Cook Street, Victoria, next to Beacon Hill Park. Price: $3.11 million. 

From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Brad Gingerich reports the following sales:
Deal: 156-suite rental development, Blue Quill area, 28 Avenue NW, Edmonton. Price: $23.27 million.
Deal: 44-suite rental apartment complex, two adjacent buildings, with 14,000-square-feet of commercial space, Stoney Plain, Alberta. Price: $7.1 million.

From: NAI Commercial, Vancouver. NAI agents Terry Harding, Jackson Tang and Brandon Harding sold the following:
Deal: 19-unit apartment complex, two adjacent buildings, on West 71 Avenue, Vancouver. Price: $4.5 million.

From: London Pacific Property Agents Inc., Burnaby. London Pacific agents Grant Gardner and Keath Williams report the following sale:
Deal: Three-acre, 11-lot assembly of multi-family development site, Lougheed Centre area, Burnaby. Price: $13.50 million. 

From: HQ Commercial, Vancouver. HQ agents David and Mark Goodman report the following sales.
Deal: 25-suite apartment-hotel building, Pendrell Street, West End Vancouver. Price: $8 million.
Deal: 24-suite rental apartment building, West Second Avenue, Kitsilano, Vancouver. Price: $7.6 million
Deal: 30-suite rental apartment building, Capitol Drive, Burnaby. Price: $6.2 million.

Recently closed a major commercial real estate deal? For a free listing here, send information to This e-mail address is being protected from spambots. You need JavaScript enabled to view it


 
Done deals updated for March

331-unit rental complex, Surrey, sold for $33.7 million.

Mainstreet buy locks third of Surrey rentals

With the $33.7 million – $102,000 per suite – purchase of a 331-unit property in Surrey’s Guildford area, Calgary-based Mainstreet Equity Corp. now has a lock on more than 30 per cent of Surrey’s rental apartments. Mainstreet, one of Western Canada’s largest landlords, owns 1,700 apartments B.C.’s fastest-growing city, and more than 2,700 units across the Lower Mainland, confirmed company founder Bob Dhillon. Publicly listed Mainstreet, now valued at more than $100 million, also controls about one-third of the Abbotsford rental apartment universe. 

From: NAI Commercial, Vancouver. NAI agent Aleem Thaver sold the following:
Deal: 17-storey Viva Tower on Howe Street, Vancouver, a mixed-use office and hotel building, which is to be converted into 230 rooms of student rental housing by the new owners, CIBT Subsidiary Investment Group.
Price (approximately): $37 million. 
NAI agent Rick Lui sold the following:
Deal: 9,000-square-foot retail building, S.W. Marine Drive, Vancouver. Price: $3.35 million.
NAI agent Doug O’Neil sold the following:
Deal: 12,600-square-foot industrial building, North Fraser Way, Burnaby. Price: $2.67 million. 

From: Re/Max Complete Commercial, Calgary. Re/Max agent Mike Blayney’s team sold the following:
Deal: 40,791-square-foot shopping place, Horizon Auto Centre, on 3.73 acres in NE Calgary, Price: $10 million.

From: Colliers International Hotels, Calgary. Colliers’ agents Alam Pirani, Toronto, and Tom Andrews, Vancouver, announce the following sale:
Deal: 328-room Calgary Airport Marriott hotel portfolio, consisting of the 171-room Courtyard and the 157 Residence Inn within a 265,200-square-foot complex next to the Calgary International Airport. Sold to J.A.R. Enterprises Ltd., a Remai Group affiliate. Price: $66 million.

From: CBRE National Apartment Group, Edmonton. CBRE senior vice-president Bradley Gingerich announces the following sales:
Deal: 126-suite Windermere Village, a rental apartment complex in SW Edmonton. Price: ($226,190 per suite) $28.5 million.
Deal: 3.21-acre multifamily development site, Chappelle Boulevard SW, Edmonton. Price: $3.21 million. 

From: Re/Max Bill Goold Realty, Vancouver. Re/Max agent Bill Goold sold the following:
Deal: 43-unit rental apartment building, Dowler Place, Victoria. Price: $5.67 million.
Deal: 28-unit rental apartment building, Bay Street, Victoria. Price: $3.28 million.

From: Pure Multi-Family Real Estate Investment Trust, Vancouver. Pure REIT CEO Stephen Evans reports the following:
Deal: 408-unit residential rental complex, Arlington, Texas sold by Pure to an unnamed investor. Price US$27.95 million. 

From: DTZ Nanaimo Real Estate Ltd. DTZ agent Randall Taylor reports the following sales:
Deal: 11,000-square-foot warehouse on 2.71 acres, Duke Point Industrial Park, Nanaimo. Price: $1.81 million.
DTZ agent Gerry Van Vaals sold the following: 
Deal: 60,000-square foot industrial complex on 5.36 acres with two buildings, fully leased to eight tenants. Price: $6.15 million.


Recently closed a major commercial real estate deal? For a free listing here, send information to This e-mail address is being protected from spambots. You need JavaScript enabled to view it



 
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