IAM Group buys 20 former Cominar properties from Slate

IAM Group buys 20 former Cominar properties from Slate

The president of Integrated Asset Management Corp.’s real estate group says the acquisition of 20 industrial properties in Atlantic Canada is part of a strategy to diversify its geographical holdings. The properties, primarily in New Brunswick, were purchased from Slate Acquisitions Inc., which itself had recently acquired the properties from Cominar REIT.

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Food firm signs Vancouver’s biggest industrial lease of 2018

Daiya Foods has leased 396,770 square feet at 3100 Production Way in the Lake City Business Centre, representing Metro Vancouver’s largest industrial lease deal of 2018. “Deals over 200,000 square feet are incredibly rare in this market as there are few buildings that size,” said Colliers Vancouver industrial vice-president Stefan Morissette.

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Perceptive, GSK US ‘go against the grain’ in property hunt

Robert Kurlender has a “perceptive approach to real estate investment” in which he aims to differentiate from the pack when acquiring industrial properties. “My approach has been to go against the grain,” says Kurlender, the president of Montreal-based Perceptive Capital and GSK US Properties.

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NIMBYism, skilled labour, permit issues dog Vancouver CRE

A shortage of construction labour and a broken municipal public hearing process are worsening Vancouver’s affordability crisis, says the outgoing chairman of Metro Vancouver. Greg Moore, who is also mayor of Port Coquitlam, spoke during a discussion of the region’s affordability crisis at the Vancouver Real Estate Forum.

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Two JV developments to build 2,200 apartments in Toronto

Two joint ventures have been formed to construct about 2,200 apartments in Toronto — 30 per cent of them designated as affordable housing — the developers announced on Friday. The projects also incorporate retail and possibly office space. The projects involve six investors and will be constructed on the West Don Lands, as well as at Grosvenor and Grenville streets.

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Greengate plans $1B in Alberta energy projects

Calgary-based renewable and clean energy developer Greengate Power Corporation has major plans for the Alberta market and beyond after securing a multi-year $100-million equity commitment from Fengate Real Asset Investments. Dan Balaban, president and chief executive officer, said Greengate Power plans to develop $1 billion in projects in Alberta.

Sustainable Biz Canada

Sales: A noble profession

A profitable business relies upon the successful sale of a product and/or service. How that transaction takes place is changing; it’s increasingly easy to complete the necessary research, shop for the most favorable price and terms, and make the purchase on-line. There will, however, always be a place in complex transactions for a professional salesperson.

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Six months ago: Massive Calgary Taza development valued at $4.5B

A massive commercial real estate development on the Tsuut’ina Nation, bordering Calgary city limits, will be named Taza, it was revealed during the recent Calgary Real Estate Forum. The development is on 1,200 acres of land and will eventually include 17 million square feet with a real estate value in the neighbourhood of $4.5 billion.

Property Biz Canada

One year ago: Nexus looks forward to major growth after merger

Edgefront REIT and Nobel REIT closed their merger to become Nexus REIT 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.

Property Biz Canada

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