It was a busy year for commercial real estate transaction, translating to a busy year in traffic for WesternInvestor.com’s Done Deals section. Sales within the Fraser Valley seemed to be especially popular with our readership, as were big-ticket REIT transactions.
Here is our first annual countdown of our five most-read Done Deals of 2016.
5. Mission Community Health Centre sells for $15.5 million
Our first Done Deal to make the list is the sale of a three-storey office complex in Mission adjacent to Mission Memorial Hospital. Fraser Health Authority currently leases the Mission Community Health Centre on an 18-year term.
4. June 2016: Hong Kong group buys InnVest REIT
Our round up of Western Investor’s June edition Done Deals made our list likely due to the headline deal’s impressive pricetag – $2.1 billion. BlueSky Hotels and Resorts Inc. out of Hong Kong purchased a portfolio of 109 Canadian hotels from InnVest Real Estate Investment Trust.
3. Surrey sale marks largest Fraser Valley land transaction
On Oct. 23, Frontline Real Estate Services Ltd. brokered a record-setting Fraser Valley sale. The brokerage sold nearly 15 acres of land for $50 million – the biggest land transaction of the year for the region.
2. September 2016: Crombie bags 68 Safeways
Our runner up for most-viewed Done Deal is from our September issue: Crombie Real Estate Investment Trust’s $990 million sale-leaseback deal with Empire Company Ltd., parent of Sobeys Inc., Canada’s second-largest grocer. Crombie REIT acquired 29 Safeway’s in B.C., 27 in Alberta, three in Saskatchewan and nine in Manitoba.
1. July 2016: Mission’s major mall sold for $68 million
Western Investor’s most-read Done Deal of the year sees Mission making a repeat appearance on our list, this time for the sale of its major shopping centre, The Junction. The mall was sold to Chicago-based LaSalle Investment Management group for $68.05 million.