APA Group of Japan has purchased Vancouver-based Coast Hotels for $210 million through a share purchase agreement with Okabe Co. Ltd. of Tokyo, the former owner of Coast Hotels.
APA is Japan’s largest hospitality firm with 373 hotels, Toshio Motoya, founder of APA, told a September 6 Vancouver press conference.
Coast Hotels has 36 properties including the Coast Coal Harbour Hotel in Vancouver and the Coast Harbourside in Victoria among its 19 B.C. properties. The firm also owns hotels in Alberta and the Northwest Territories and 10 properties in the Western United States.
APA Group made an unsolicited offer to purchase the Coast Hotels, which was accepted by the
Canadian firm’s parent company, according to a Coast Hotels spokesman.
From | RioCan Real Estate Investment Trust, Toronto. RioCan CEO Edward Sonshine announces the following transaction:
DEAL | Purchase of remaining 50 per cent of four commercial properties, including Grandview Corners, Surrey, Meadows Hill, Edmonton, and Beacon Hill, Calgary, from the Canada Pension Plan Investment Board. Price: $352 million.
From | Avison Young, Vancouver. Avison Young agent Chris Wieser reports the following sale, both to the same buyer:
DEAL | 51-unit rental apartment building on Duncan Way, Penticton. Price: $5.4 million.
DEAL | 44-unit rental apartment building, on South Main Street, Penticton. Price: $5.11 million
From | Frontline Real Estate Services, Surrey. Frontline agents Todd Bohn and Kyle Dodman, with listing agents Daniel Peters and Rudy Dyck of Landmark Realty Corp. sold the following:
DEAL | 12,000-square-foot industrial building, Great Northern Avenue, Abbotsford. Price: $2.62 million.
Frontline agents Todd Bohn and Kyle Dodman, with listing agents Randy Heed and Chris Morrison of Colliers International, sold the following:
DEAL | 3.73 acres of industrial land, 36 Avenue, Surrey. Price: $3.73 million.
Frontline agent Justin Mitchell sold the following:
DEAL | 4.54-acre multi-family residential development site, Yorkson area of Langley (208 Street and 77A Avenue), zoned for up to 186 homes. Price: $11.75 million.
Frontline agents Todd Bohn and Kyle Dodman, with selling agent Berd Thiesen of Homelife Glenayre Realty Chilliwack Ltd., sold the following:
DEAL | 6,314-square-foot commercial building, Chilliwack. Price: $13 million.
From | Re/Max Commercial, Penticton. Re/Max agents Keith Jakes and John Green sold the following:
DEAL | 20-unit rental apartment building, Calgary Avenue, Penticton. All two-bedroom units. Price: $5.15 million.
DEAL | 14,100-square-foot strip mall, Skaha Lake Road, Penticton, with eight commercial units on 1.2 acres. Price: $2.35 million.
From | NAI Commercial, Vancouver. NAI agents Gary Haukeland and JD Murray report the following:
DEAL | 0.87 acres, Lougheed Highway, Maple Ridge. Price: $1.03 million.
NAI agent Brian Larrivee reports the following:
DEAL | Five acres of commercial land, Foy Street, Abbotsford. Price: $3.62 million.
DEAL | 28,667-square-foot industrial building on 1.24 acres, Abbotsford. Price: $2.9 million.
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