CEO Domenico creates ‘completely different’ Partners REIT

CEO Domenico creates ‘completely different’ Partners REIT

Partners REIT is “a completely different company” than it was a few years ago and the future looks solid as the trust moves to focus its holdings in Ontario and Quebec, says CEO Jane Domenico. “We internalized management . . . and our balance sheet has been improved as a result of deleveraging our debt,” she told RENX in an interview.

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Colliers buys 75 per cent of Harrison Street for $550M US

Colliers International (CIGI) will spend up to $550 US million to acquire 75 per cent of Harrison Street Real Estate Capital LLC. The Chicago-based firm focuses on the education, healthcare and storage sectors and has $14.6 billion in assets under management. “The investment in Harrison Street is transformational and the most significant in our history,” said Jay Hennick, chairman and CEO of Colliers International.

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H&R to sell U.S. retail properties, focus on residential

H&R Real Estate Investment Trust (HR.UN) says it will sell 63 U.S. retail properties for $633 million US and use a “significant share” of the proceeds to fund acquisitions for its Lantower Residential division.

The sale includes all of H&R REIT’s retail properties in the United States, with the exception of 16 gas stations and convenience stores. The buyer has not been disclosed.

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True North buys Toronto Yonge St., office tower

True North Commercial Real Estate Investment Trust has purchased an 18-storey office tower along the northern portion of Yonge St. in Toronto for $85.15 million, the trust says. 5775 Yonge St., is a class-A, LEED Gold building containing 274,085 square feet of leasable space.

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Canadian hotel values set for another large jump: Colliers

While 2018 Canadian hotel transaction volume likely won’t match last year’s $3.5 billion, Colliers International expects it to be in line with the 2011 to 2017 average of $2.3 billion. Nevertheless, hotel values are forecast to rise by 12.8 per cent in 2018, according to Colliers’ “2018 Canadian Hotel Investment Report.”

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Plazacorp earns Tarion honour, keeps building condos

Plazacorp has been named Tarion’s high-rise builder of the year, and senior vice-president Scott McLellan said it’s an honour the company really wanted.“It’s really the only one where you’re judged, rated and marked on what your purchasers think. That’s probably the most important award you can have in any industry, but certainly ours.”

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Six months ago: Cominar to sell non-core assets to Slate for $1.14B

Cominar Real Estate Investment Trust will sell its entire $1.14B, non-core property portfolio to Slate Asset Management in one of the largest commercial real estate transactions in Canada in 2017. Cominar announced on August 22 its plan to divest all its assets in non-core markets, as part of a debt reduction plan, and to focus on its core markets.

Property Biz Canada

One year ago: Avigilon doubles investment with Van. office sale

Avigilon, a Vancouver-based security systems firm, has reached a deal to sell its downtown office tower for more than double the price it paid less than two years ago. Avigilon sold the nine-storey tower at 555 Robson Street to an undisclosed buyer for approximately $107.5 million.

Property Biz Canada

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