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Done Deals highlights: May 2018 issue

Nexus REIT buys three Western Canada industrial properties | Our top commercial real estate transactions from Western Investor's latest print edition
nexus

 

Ontario-based Nexus Real Estate Investment Trust has acquired three properties across B.C. and Saskatchewan, for $64 million. 

Nexus REIT purchased two Richmond, B.C. properties for $57.4 million. The properties have a 6.5 per cent capitalization rate and an assessed value of approximately $81 million. One of the industrial properties is to be redeveloped into a multi-tenant children’s sports mall, while the other is tenanted by a multinational energy manufacturing company. The buildings are 117,490 and 60,000-square-feet, respectively. 

“With these acquisitions, purchased at a significant discount to appraised values, Nexus will grow its market capitalization by approximately $22.7 million without the need to raise equity in the public markets,” said Kelly Hanczyk, Nexus CEO, in a release.

 The Regina property is a 38,690-square-feet, multi-tenant building acquired for $6.6 million. The property is anchored by Day & Ross Shipping and has a capitalization rate of 7.5 per cent. 

 Nexus owns 62 retail, industrial and office properties across Canada, totalling approximately 3.5 million square feet of leasable space. 

 


 

From | JLL Canada, Vancouver. Brokered the following: 

DEAL | 10-unit Glenayre apartments in Kerrisdale, sold at $460K per suite. West 40th Avenue, Vancouver. Price: $4.6 million. 

 

From | Macdonald Commercial Real Estate Services, Vancouver. Macdonald agents Stuart Wright and Nick Goulet sold the following: 

DEAL | Freestanding, 5,000-square-foot industrial building. Crown Street, North Vancouver. Price: $2.3 million. 

 

From | Avison Young Commercial Real Estate. Avison Young agent Michael Buchan brokered the following: 

DEAL | 33,683-square-foot multi-tenant office and retail building on the Boundary border of Burnaby and Vancouver. East Hastings Street, Vancouver. Price: $10.5 million. 

 

From | BC Farm and Ranch Realty. Agent Nav Sekhon brokered the following sale:

DEAL | Nearly 65 acres of Langley within the Agricultural Land Reserve. Rawlison Crescent, Langley. Price: $3.65 million. 

 

From | JLL Canada, Edmonton. JLL agent Samuel Dean sold the following:

DEAL | 20-unit Evergreen Manor, sold for $148,000 per suite. 81 Avenue, Edmonton. Price: $2.96 million. 

DEAL | 21-unit NAIT Apartments, sold for $107K per suite.103 Street, Edmonton. Price: $2.25 million. 

DEAL | 25-unit Ray Ruth Manor, west of downtown Edmonton, priced at $126K per suite. 113 Street, Edmonton. Price: $3.16 million. 

 

 

From | NAI Advent, Calgary. Agents Jim Courtney and Blair McArthur brokered the following deal:

DEAL | Two-storey, mixed-use commercial building with office and warehouse tenants. 12 Street SE, Calgary. Price: $11.6 million. 

NAI Advent agents Jim Courtney and Luke Stiles sold: 

DEAL | Eight acres of Cochrane land zoned for manufacturing use. Griffin Road, Cochrane. Price: $2.4 million. 

DEAL | Gas station sold by Petro Canada and acquired by 7-Eleven Canada. Westmount Road, Strathmore, Alberta. Price: $3.61 million. 

 

From | CBRE Edmonton. CBRE agents Bradley Gingerich sold the following:

DEAL | Two residential towers Windsor Arms and Capilano Tower, totalling 189 apartment units. 100 Avenue NW and 101 Avenue NW, Edmonton. Price: $40.4 million. 

 

From | Sutton Showplace Realty. Sutton agent Freddy Marks sold the following:

DEAL | 34,761-square-foot historic Naismith House converted to an inn. Lillooet Avenue, Harrison Hot Springs. Price: $1.59 million.