Done Deals highlights: October 2019

Our top commercial real estate transactions from Western Investor's latest print edition

By
Western Investor
October 2, 2019





Holloway Lodging
Holloway Lodging assets include this Grande Prairie Best Western hotel and northern B.C. hotels. | Holloway Lodging CorP.

Below are highlights of the Done Deals in Western Investor's October print edition. Click through to the DEAL live link for more information and images.

 

FROM |  Clarke Inc. of Halifax reports the following major purchase:

DEAL | $265 million paid by major shareholder Clarke Inc. for the remainder of Holloway Lodging Corp. assets, totalling 23 Canadian hotels with 2,723 rooms, and three U.S. office properties with 435,000 square feet of space. They include two B.C. hotels, in Fort St. John and Fort Nelson, and nine properties in Alberta, including in Grande Prairie and Whitecourt. Capitalization rate on the assets is forecast at 6.4 per cent, and the price works out to $88,200 per “key” for the hotel properties.

 

FROM | Colliers International, Victoria. Colliers agents Grant Evans, Ken Cloak and Dominic Ricciuti report the following off-market transaction:

DEAL | Verve, a new 95-unit rental apartment building with one commercial unit on a 0.42-acre site on Boleskine Road, Victoria, was sold to Centurion Real Estate Investment Trust. Price: $32.7 million. 

 

FROM | NAI Commercial, Vancouver. NAI agent Doug O’Neill reports the following:

DEAL | 2.89-acre heavy industrial site in New Westminster with 63,593 square feet of leased space. Price: $8.9 million.

NAI agents Steven Chen and Ruby Wang report the following:

DEAL | 11,500-square-foot industrial building on an 18,296-square-foot lot in Richmond, sold for approximately $750,000 above its assessed value. Price: $4.37 million.

NAI agents Terry Harding, Jackson Tang and Brandon Harding report the following:

DEAL | 24-unit rental apartment building on a 12,000-square-foot site 100 metres from Kitsilano Beach on York Street, Vancouver. Price: $13.25 million.

 

FROM | JLL Commercial, Vancouver. JLL agent Patrick McEvay reports the following:

DEAL | Nine-unit rental apartment building on a 5,400-square-foot lot on Fremlin Avenue in Vancouver’s Marpole neighbourhood, close to Marine Gateway Canada Line Station. BC Assessment value of $2.92 million. Price: $3.85 million.

 

FROM | Corbel Commercial, Vancouver. Corbel agents Robert Tham and Marc Saul report the following:

DEAL | Part of a land assembly investment in Vancouver’s Strathcona neighbourhood, single-room-occupancy rental building on a 3,050-square-foot lot on East Hastings Street. Price: $3 million.

 

FROM | Copperblock Capital, Edmonton. Copperblock reports the following private acquisition.

DEAL | Copperblock has bought a six-lot land assembly for mixed-use development on University Avenue, Edmonton. Price: $3.4 million.

 

FROM | Goodman Commercial Inc., Vancouver. Goodman agents Mark Goodman and Cynthia Jagger, with Cushman & Wakefield agent Tim Sommer, report the following:

DEAL | 11-unit Nanaimo, B.C.,rental apartment building sold for nearly $600,000 above its assessment value. The per-unit price was $163,181. Price: $1.67 million. 

Goodman Commercial agents Mark Goodman and Cynthia Jagger report the following:

DEAL | An older, 11-unit apartment building on a 17,076-square-foot lot on Sinclair Street in Vancouver’s Marpole neighbourhood. Price: $8.4 million. 

 

FROM | Re/Max Complete Commercial, Red Deer. Re/Max agents Cam Tomalty, Jeremy Makila and Glenn Moore report the following:

DEAL | 6,936-square-foot industrial bay in Red Deer’s Edgar Industrial Park. Price: $800,000.

 

FROM | Marcus & Millichap, Vancouver. Marcus & Millichap agent Danny Su reports the following:

DEAL | 11,596-square-foot retail strata unit in the Crystal Mall, Kingsway Avenue, Burnaby. Price: $9.88 million.

 

FROM | Re/Max Commercial Advantage, Vancouver. Re/Max agent Stephen Gammer reports the following:

DEAL | 12,730-square-foot industrial building with office space on 0.7 acres, Tilbury Industrial Park, Delta. Price: $4.3 million.

Re/Max agent Steve Da Cruz reports the following:

DEAL | 958-square-foot warehouse/office building at the corner of No. 6 Road and Mayfield in Richmond. Price: $1.16 million.


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