Simple strategy lifts Avenue Living above $1B in assets

Simple strategy lifts Avenue Living above $1B in assets

Calgary-based Avenue Living Asset Management began in 2006 with the purchase of 24 rental units in Brooks, Alta. for $3 million. From those modest beginnings, Avenue has authored a phenomenal success story in just 12 years; today it has 320 buildings in its portfolio and $1 billion in assets under management in three investment vehicles.

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SmartCentres, SmartStop form storage joint venture

A new joint venture between SmartCentres REIT (SRU-UN-T) and SmartStop Asset Management, LLC to build self-storage facilities might be best described by the first word in the companies’ names. SmartCentres president and CEO Peter Forde said the trust has “a lot of great real estate” to build on.

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InterRent to purchase GTA land, Montreal apartment buildings

InterRent REIT is issuing $100 million in stock and intends to make two major purchases with the proceeds; a parcel of development land for a mixed-use project in the Greater Toronto Area, and two income-producing properties in Montreal. In the GTA, InterRent has conditionally agreed to acquire a 6.3-acre parcel of land for $42 million which it plans to expand, and then develop a major multi-use project.

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Deloitte to anchor Allied, Westbank’s 400W. Georgia

Deloitte Canada will move its Vancouver office to one of the most innovative and distinctive new developments in the city, the downtown 400W. Georgia tower being financed by Allied Properties REIT and built by Westbank. 400W. Georgia is a mixed-use project comprising workspace and retail. Deloitte will be the anchor tenant, with 117,000 square feet on 10 floors.

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Hard tenant truths in the CRE world

As a commercial real estate agent my job is to line up tenants with landlords, and sellers with buyers. Unlike a sale, where both sides part ways at the end of transaction, I think leasing is a lot about building a relationship. However, much like in our personal lives, we all know some relationships are just not meant to be.

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Manitoba Race to Reduce targets building energy usage

Throughout the last century, technological advancements have revolutionized the way we live. From transportation systems to communication, these contributions have created a level of convenience and economic prosperity unknown to previous generations. While there are marked advantages, the energy which goes into these systems can cause sustainability issues.

Sustainable Biz Canada

Six months ago: PCI, Low Tide build offices at False Creek Flats

A massive amount of new office space is coming to Vancouver’s False Creek Flats area beginning with a development by PCI Developments and Low Tide Properties. Launching this spring is a seven-storey, 160,000-square-foot Class A structure at 565 Great Northern Way which is designed for the emerging digital media and creative sector. It is already 72 per cent pre-leased.

Property Biz Canada

One year ago: Toronto industrial sale prices ‘unprecedented’

David Hillis, who brings 33 years of industrial and office investment sales and leasing experience to his new role as Avison Young principal, has completed more than 1,100 industrial transactions in the Toronto market. With that type of background, the former CBRE senior vice-president has a solid perspective on what’s happening in the GTA.

Property Biz Canada

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