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Done Deals highlights: April 2017 issue

Our top commercial real estate transactions from WI's April edition | Hong Kong firms purchase the Rosewood Hotel Georgia for $145 million
hotel georgia

 

One of downtown Vancouver’s iconic hotels is being sold to two Hong Kong-based firms in a $145 million deal.

Babeena, a subsidiary of Magnificent Hotel Investments, and Able Shine Enterprises will purchase the Rosewood Hotel Georgia at the corner of West Georgia and Howe Street in an equal partnership deal. Brothers Jonathan and William Cheng are involved in both companies, according to reports.

The agreement to acquire Rosewood Hotel Georgia was made on February 27. The first capital deposit was to be made within three business days of signing the purchase agreement.

The hotel underwent full-scale renovations in 2011, with the Rosewood Hotels and Resorts chain restoring the 1927 building into five-star, luxury accommodations. The Crowne Plaza chain of hotels previously operated Hotel Georgia.

 


 

From | Gammon International, Vancouver. Gammon agent Justin Chiu reports:

DEAL | Two retail buildings, a total of 10,072 square feet, with residential units, zoned C-2 on Fraser Street in Vancouver. Price: $4.4 million.

 

From | William Wright Commercial, Vancouver. William Wright agent Cory Wright reports the following sale:

DEAL | A 604-square-foot medical office space across from St. Paul’s Hospital in downtown Vancouver sold in less than five days. Price: $371,000.

DEAL | A 310-square-foot office unit in Yaletown, sold for over $1,000 per square foot. Mainland Street, Vancouver. Price: $364,000.

 

From | The National Apartment Group, CBRE Limited. Senior vice-president Bradley Gingerich reports the following transactions:

DEAL | 101-unit Concord Towers apartment building adjacent to the University of Alberta on 82 Ave, Edmonton. Price: $12 million.

DEAL | Wynsor Square apartments, a 30-unit complex in north Edmonton, sold for $165,000 per suite. Under new management by Mayfield Management Group. 127 Ave., Edmonton. Price: $4.95 million

DEAL | 39-rental-unit Silverstone Terrace in the Chappelle neighbourhood of Southwest Edmonton, sold to GSK Properties for Ironclad Properties Inc. Price: $7.41 million.

DEAL | Two rental apartment buildings comprising 238-unit Auburn Landing apartments sold for $215,000 per suite. Auburn Bay Street, Calgary. Price: $51.17 million.

DEAL | Assemblage of 694 renal units over four residential buildings sold for $275,216 per suite to Timbercreek Asset Management. Jasper Avenue and 106A Avenue, Edmonton. Price: $191 million.

CBRE Edmonton also reports:

DEAL | A 2,286-square-foot retail unit in a historic character building with an assessed value of $2.89 million, tenanted by Blue Plate Diner. 104 Street, (warehouse district), Edmonton. Price: $4.1 million.

DEAL | More than five acres of Edmonton residential development, zoned RF5, bordered by Lewis Estates Golf Course. 93 Ave., Edmonton. Price: $8.4 million.

 

From | Shindico, Winnipeg. Shindico agent Harry DeLeeuw reports:

DEAL | A industrial building used as a truck wash station on a 2.5 acre lot, listed for $1.49 million. Marion Street, Winnipeg. Price: $1.33 million.

Shindico agent Ian Corbett reports:

DEAL | 49,461-square-foot freestanding storage building purchased by U-Haul from Hi-Tech Energy Windows Ltd. Inkster Boulevard, Winnipeg. Price: $3.65 million.

 

From | Colliers International, Vancouver. Colliers agents Randy Heed and Sheldon Scott report:

DEAL | More than nine aces of land zoned for redevelopment. The three parcels have a combined assessed value of $5.81 million. Lougheed Highway, Mission. Price: $6.1 million.

Agents Malcolm Earle and Randy Heed report the following:

DEAL | Light-industrial, free-standing warehouse building with yard compound on 29,621-square-foot lot. 194A Street, Surrey. Price: $2.43 million.

 

From | Corbel Commercial Inc., Vancouver. Corbel agents Robert Tham and Marc Saul reports the following transaction:

DEAL | A 16,950 square foot, three-storey commercial building in Vancouver’s Railtown district, with views of the North Shore. Price: $9.6 million.