Nexus looks forward to major growth after merger

Nexus looks forward to major growth after merger

Edgefront REIT and Nobel REIT closed their merger to become Nexus REIT (NXR.UN-X) early last month, and both parties believe it will offer several benefits going forward. “We were two smaller entities that, when you put them together, were able to increase our size and scale,” said former Edgefrot president and chief executive officer Kelly Hanczyk, who now serves as Nexus’ co-CEO with former Nobel president and CEO Jean Teasdale.

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Minto Place deal big step in new direction

Minto Capital Management has sold 50 per cent of its ownership of Minto Place in Ottawa to Investors Real Property Fund. The transaction, announced Monday morning by the two companies, includes three Minto Place office towers comprising 945,030 square feet of leasable retail and office space.

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Slate Office REIT targets Toronto’s 427 corridor

Slate Office REIT believes in asset concentration in markets it likes, and the Highway 427 corridor in Etobicoke, Ont., is its latest focus. “Other examples of this strategy include Sheridan Park in Mississauga, Woodbine and Steeles in Markham, and obviously downtown St. John’s, Newfoundland,” said Slate Office REIT chief executive officer and Slate Asset Management chief operating officer Scott Antoniak.

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Toronto Woodbine to become ‘city within a city’

Woodbine Entertainment Group hopes it has at last come up with the recipe for success at its vast northwest Toronto horse racing and gaming site. WEG used the recent Urban Land Institute Toronto Symposium to unveil its completed master plan for the 684-acre site.

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Lobo’s mission: More purpose-built rentals in Canada

Derek Lobo is on a mission to get more developers and real estate investors involved in the purpose-built multi-family rental business across Canada. The founder and CEO of SVN Rock Advisors Inc. believes most markets across the country are under-served, and he’s not just talking about the big metro real estate markets.

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Mattamy, Tridel take top GTA BILD Awards

More than 1,200 home building and land development industry professionals gathered Friday night to honour the nominees at the 37th Annual BILD Awards. Winners were announced in a total of 51 categories. A group of 17 expert judges from across North America chose the winners from more than 900 entries.

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Six Months Ago: Toronto condo site sells ‘at the right price’

Greybrook Realty Partners Inc. had big plans for its four-acre parcel of land on Toronto’s waterfront at 215 Lake Shore Boulevard East but an offer from Chinese real estate Greenland Group (Canada) turned out to be too good to turn down. Greenland, with over US$58 billion in assets and developments in major markets around the world, paid the developer more than $166-million for its four-acre share of the property.

Property Biz Canada

One Year Ago: Firm Capital eyes Delavaco as springboard to U.S.

Real estate and financial services private equity company Firm Capital is setting its sights southward as part of its “workout” of Delavaco Residential Properties Corp., a U.S.-based property developer. Firm Capital, which purchased an eight per cent stake in Delavaco, is managing the firm’s restructuring after deciding it made more sense to fix the financially troubled outfit than to sell its position. 

Property Biz Canada

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