Transactions

apartment market

Canada’s apartment market today

Canada’s apartment market continues to capture the attention of investors craving stability in what has become an uncertain economic backdrop. Notably, Calgary apartment market conditions have
Midland retirment residence

Chartwell acquires Midland retirement residence

Chartwell Retirement Residences announced that it has entered into an agreement to acquire the 121-suite Tiffin House Retirement Residence in Midland, Ont.
office market

CAPREIT sells Montreal rental property

Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") announced it has completed the sale of a building CAPREIT announced it has completed the sale of a building in Montreal containing 145 mid-tier suites. Located at 1150 and 1160 Sherbrooke Street East, the property sold for $24.8 million.
apartment transaction

Timbercreek U.S. completes $38 million sale

Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund") is pleased to announce that it has completed the sale of the Granite Park property located in Charlottesville, Virginia for a total consideration of $38.0 million USD
apartment market

Q2 2016 apartment market summary

National vacancy levels remain healthy as we move into Q3, supporting strong income stability for owners and investors active in the Canadian apartment market.
CAPREIT

CAPREIT acquisition adds townhouse complex

The CAPREIT acquisition of a Markham townhome property for $16.4 million helps solidify it as one of Canada's largest residential landlords.
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purpose-built rental

Investor demand targets purpose-built rental

Morguard's Director of Research Keith Reading provides advance insights into Q1 market conditions, noting that things continue to look optimistic for the purpose-built rental scene.
Morguard acquisition

$67-million Morguard acquisition in Ottawa

Morguard North American Residential REIT announced that it has purchased 160 Chapel Street, a rental apartment building in Ottawa, ON, for $67 million, exclusive of closing costs.
zoning

GTA apartment market trends and transactions

RealNet Canada Inc. announced 2015 GTA apartment market results, noting that total dollar volume for the 12-month period reached $1.7 billion, representing a year-over-year increase
rsz_london_ontario

CAPREIT expands presence in London, Ontario

CAPREIT announced that it has completed the acquisition of a portfolio of six apartment and townhome properties located in London, Ontario, totaling 670 rental suites.
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Windsong

Pure Multi-Family REIT sells Texas property

Pure Multi-Family REIT announced the successful and profitable sale of Windsong Apartments located in Dallas, Texas, for gross proceeds of US$22.0 million. Windsong is comprised
Vancouver

B.C. offers flexibility for redevelopment

A proposed amendment to British Columbia’s Strata Property Act could make it easier for apartment developers to scoop up prime real estate in B.C.’s hottest neighbourhoods.
Winnipeg

LREIT announces sale of Winnipeg complex

LREIT announced that it has completed the sale of Colony Square in downtown Winnipeg for $70.25 million. The three tower complex consists of 428 apartment suites, approximately 83,300 square feet of commercial space and a 270-stall underground.
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Canada U.S.

Milestone acquires 15 U.S. properties

Milestone Apartments Real Estate Investment Trust announced that it has entered into a definitive agreement with Starwood Capital Group to acquire, by way of merger, Landmark Apartment Trust for US $8.17 per Landmark share in cash, representing a total enterprise value of approximately US $1.9 billion.
Toronto CityPlace

GTA cap rate hits new benchmark low

The average cap rate in the GTA for the third quarter of 2015 (Q3’15) hit its lowest level in the last 30 years. Cap rate in Q3’15 stood at 3.75 per cent, down from 4.2 per cent in Q2’15 and down almost 50 per cent from the 6.3 per cent posted in Q3’10.
The brackenridge

Pure Multi-Family REIT closes Texas acquisition

Pure Multi-Family REIT has announced the successful closing of the Brackenridge at Midtown, a multi-family apartment community in San Antonio, Texas, for a purchase price of US $51,000,000.
Windsor

Primecorp completes 23-property sale

The Primecorp Group of Companies is pleased to announce that its National Multi-Residential Investment Sales Group led by Aik Aliferis and Sam Firestone, has successfully completed the sale of a 23-property, 1,685 unit multi-family portfolio in Windsor, Ontario.