Two big deals for Pure Industrial REIT

Two big deals for Pure Industrial REIT

It has been a busy second half of 2016 for Pure Industrial Real Estate Trust, which recently announced nearly $300-million worth of acquisitions. The two deals “reflect our continued focus on building an industry-leading portfolio of modern distribution properties in key industrial markets in Canada and the U.S.” said Kevan Gorrie, PIRET’s president and chief executive.

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Deerfoot City is taking Shape in Calgary

The evolution of Calgary’s Deerfoot Mall into Deerfoot City took another step forward this month with the opening of a new 103,000-square-foot Canadian Tire. Vancouver-based Shape Properties purchased the property from Ivanhoé Cambridge for a reported $78 million in 2011 and is undertaking a two phase redevelopment that will almost double the leasable area.

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Hungerford building new Calgary industrial park

Hungerford Properties has acquired an empty Calgary building from the Southern Alberta Institute of Technology (SAIT) that it will transform into Mayland Heights Industrial Park. “The building has been on our radar for years,” said Hungerford partner Michael Hungerford. “It’s an extremely well-built building and we always look for good bones when we’re buying property.”

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TOBY winner profile: EIA air terminal building

Edmonton International Airport (EIA) was the first Canadian airport to receive a LEED Gold certification and its air terminal building followed that distinction in September by winning a Building Owners and Managers Association (BOMA) of Canada TOBY Award for corporate facility.

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BOMA Earth Award winner profile: 25 York Street

Menkes-owned and managed 25 York Street helped transform downtown Toronto’s South Core Business District when it opened in 2009, and it was recognized by Building Owners and Managers Association (BOMA) of Canada with its Earth Award for office buildings at its BOMEX 2016 conference and exhibition earlier this fall.

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GWL Realty Advisors shrinks the carbon footprint of buildings

GWL Realty Advisors introduced corporate sustainability into its property management service over a decade ago, but the company isn’t standing on its laurels. It continues to refine its environmental performance practices. Proof of that comes from its Green Star rating received for a second consecutive year from the Global Real Estate Sustainability Benchmark (GRESB) survey.

Sustainable Biz Canada

Occupancy cost transparency

In commercial real estate leasing the landlord can fully recover the hard costs associated with operating the building from the tenants. These expenses are most commonly referred to as occupancy or operating costs.

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One year ago: Milestone REIT doubles in size with Landmark deal

It has taken Milestone Apartments REIT more than two years of operation as a public entity to acquire US$500 million worth of garden-style apartments in U.S. Sunbelt markets. Last month, the Dallas-based REIT (MST.UN-T) matched that two-year-plus history with the stroke of a pen.

Property Biz Canada

Six months ago: Conundrum, Manulife to grow multi-res platform

Conundrum Capital Corporation’s Q Management LP (QMLP) is taking a step up from being a boutique multi-family asset and property management platform with the sale of a 49 per cent stake to Manulife Asset Management Private Markets. “We’ve been approached by a number of firms over the last couple of years, but Manulife was a natural strategic partner for us,” said Conundrum chief executive officer Dan Argiros.

Property Biz Canada

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