Firm Capital Corporation marks 30 years in business

Firm Capital Corporation marks 30 years in business

Firm Capital Corporation is celebrating 30 years in the private equity business, and the company’s growth since founder Eli Dadouch combined his interests in real estate and finance has been substantial. “Our name has been associated with literally thousands of homes,” said Dadouch. “A lot of housing was created thanks to our participation in transactions.”

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Tricon creates $2B JV to buy rental homes in U.S.

Toronto-based Tricon Capital Group Inc. has announced a major American joint venture through which it plans to purchase up to 12,000 single-family rental homes for its Tricon American Homes division. The joint venture, involving an unnamed “sovereign wealth fund” and a U.S.-based state pension plan, will be capitalized with a total of US$750 million, with each of the three partners committing $250 million.

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Toronto’s TAS Design Build creates mixed-use library, multi-res

Toronto builder TAS Design Build is filling two needs with its first foray into the apartment sector at 299 Campbell Ave. The development will provide much-needed rental housing in the Junction Triangle as well as a larger, more modern public library branch for the neighbourhood. It’s yet another twist on the mixed-use concept, which has become almost the standard for multi-residential projects in many GTA neighbourhoods.

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Apartment financiers to developers: Do your homework

Developers looking to get their projects out of the ground were out in good numbers to hear real estate lenders discuss financing at the recent North American New Apartment Construction and Mixed-Use Symposium + Expo at the Metro Toronto Convention Centre.

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Interesting times call for investor diligence, not inaction

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity …” I can’t begin to guess what Charles Dickens might make of the world today. As a real estate investor, will living through such interesting times prove a curse or a blessing? It all depends on how you chose to look at it.

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Hollyburn acquires Toronto, Calgary multi-res buildings

Vancouver-based Hollyburn Properties has acquired two multi-residential properties in very desirable neighbourhoods in Toronto and Calgary from Industrial Alliance. Tony Manganiello of Cushman & Wakefield, which listed the properties, said there was very strong interest for both the La Salle Tower in Toronto’s Davisville neighbourhood and Calgary’s Central Towers in the Beltline.

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Six months ago: Mainstreet buys 641 Regina apartments

Mainstreet Equity Corporation continued bulking up its apartment portfolio with the acquisition of 641 units in Regina, Saskatchewan for $71.65 million from Boardwalk Real Estate Investment Trust. The portfolio consists of 49 properties which are known as Boardwalk Estates, and includes two acres of residual land as well as a warehouse. The buildings contain as many as 35 apartments, but most range from four to 24 units.

Property Biz Canada

One year ago: AHIP REIT purchases large U.S. hotel portfolio

American Hotel Income Properties (AHIP) REIT is set to close on the acquisition of 18 premium-branded Marriott and Hilton hotel properties in the Eastern United States for approximately US$407.4 million. The Eastern Seaboard Portfolio consists of 10 Marriott-branded hotels and eight Hilton-branded hotels in Maryland, New Jersey, New York, Connecticut and Pennsylvania.

Property Biz Canada

	RENX is taking a (short) summer break
	Summer has finally arrived and RENX will shut down for one week from July 2 to July 6 for a brief summer break. We will resume our regular publishing schedule on July 9. Happy Canada Day!

 

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