eStruxture makes big move onto data centre scene

eStruxture makes big move onto data centre scene

Montreal’s eStruxture Data Centers has raised or secured $260 million in capital in recent months and forged relationships with several major investors as it moves to position itself as a key player in the emerging sector. Most recently, eStruxture secured $180 million in committed capital in mid-January with the addition of Fengate Real Asset Investments as a co-lead investor and a new, expanded debt financing facility with Scotiabank, National Bank of Canada and Investissement Québec.

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Oxford, CPPIB partner on NYC’s St. John’s Terminal

Oxford Properties Group has added the Canada Pension Plan Investment Board (CPPIB) as its partner to redevelop a portion of New York City’s historic St. John’s Terminal site, they announced on Wednesday. The two firms, long-time joint venture partners on other major projects, closed on the acquisition of the portion of the property south of West Houston Street for $700 million from Westbrook Partners and Atlas Capital Group. Oxford says it will own a 52.5 per cent interest, CPPIB 47.5 per cent.

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LaSalle Canada Property Fund launches with $440M portfolio

With Canadian real estate increasingly on the radar of international investors, LaSalle Investment Management has launched LaSalle Canada Property Fund, its first open-ended real estate fund. The fund was launched in December with an initial seed portfolio of $440 million from an international institutional investor which transferred to LaSalle a sizable portion of its portfolio in five of Canada’s six major markets.

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Trez Capital aims to build on record-setting 2017

After issuing a record-setting amount of loans in 2017, private commercial mortgage lender Trez Capital has bold growth targets for 2018. The Vancouver-based, non-bank lender issued $1.4 billion in loan authorizations and closings for its 2017 fiscal year, president Greg Vorwaller told RENX. “As a number, that is the most that we recorded in any one of our prior fiscal periods,” he said.

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Manulife buys its first Australian office building, in Melbourne

Manulife Real Estate has made its first foray into the Australian commercial real estate market, buying the 14-storey, Class A 800 Collins Street office tower in Melbourne. The 317,335 square foot building was constructed in 2010 and is fully leased. Located in the Docklands Central Business District, an extension of the Melbourne CBD, 800 Collins Street offers direct access to public transportation.

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Is high tech a core condo, or a suburban McMansion?

In urban centres across Canada, there are those business parks in the suburbs. You know the ones. They have a diner/café that caters to the morning coffee and lunchtime crowd. Probably some sort of fitness club that woos neighbouring employers with a staff discount.

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Six months ago: Ottawa Constitution Square up for sale

One of downtown Ottawa’s most significant office properties, Constitution Square, is up for sale according to a Colliers International report. The property came on the market late in the second quarter, and includes three Class A office towers linked by a retail podium, Colliers Q2 2017 Office Report states. The buildings are owned by Oxford Properties.

Property Biz Canada

One year ago: Alt+ hotel to open in Quartier Dix 30

Groupe Germain Hotels will open a new $35 million four-star Alt+ hotel next year on the site of the massive Quartier Dix 30 development near Montreal. The 168-room hotel will occupy the top nine floors of a 15-storey mixed-use building that is currently under construction at the Quartier Dix 30 “urban district”.

Property Biz Canada

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