Calgary-based Northern Property Real Estate Investment Trust (NP REIT) has purchased True North Apartment and a 4,650-suite rental apartment portfolio from Starlight Investments Ltd.
The $3 billion deal, announced August 10, creates Canada’s third largest residential apartment REIT and expands NP REIT nationally from its western Canadian roots. Following the acquisitions, NP REIT owns nearly 25,000 rental suites in eight provinces and two territories.
As part of the transactions, NP REIT will change its name to Northview Apartment Real Estate Investment Trust to reflect the new national character of its portfolio.
From: Sutton West Coast, Harrison Hot Springs
Agent: Freddy Marks
Deal: 13,500-acres of managed forestland south of Nelson, B.C., sold to a Germany-based investor
Price: $10.19 million
From: London Pacific Property Agents Inc., Burnaby
Agents: Ben Williams and Thomas Trowbridge
Deal: Four-lot land assembly, total of 21,265 square feet in Marpole area, Vancouver
Price: $5.7 million
Deal: Two-lot land assembly, total of 11,216 square feet, Marpole area of Vancouver
Price: $4.06 million
Agent: Ben Williams with Bill Goold of Re/Max Bill Goold Realty
Deal: 420,135-square feet of gross residential development land, Metrotown area of Burnaby
Price: $38.78 million
From: DTZ, Vancouver
Agent: Steve Caldwell
Deal: 21,792-square-foot industrial/office building on 2.26 acres, United Boulevard, Coquitlam
Price: $4.97 million
Deal: 25,178-square-foot industrial complex on one acre, Greenwood Street, Burnaby
Price: $4.18 million
Agents: Sebastian Espinosa and Steve Caldwell
Deal: 14,756-square-foot heavy freestanding industrial building on a 27,268-square-foot lot, 97th Avenue, Port Kells, Surrey
Price: $2.1 million
From: CBRE National Apartment Group, Vancouver
Submitted by: CBRE senior vice-president Lance Coulson
Deal: 58-unit rental apartment building, newly built in Langley
Price: $17.02 million
From: Jones Lang LaSalle (JLL) national multi-residential investment team, Edmonton
Agents: Paul Gemmel, David Parker and Samuel Dean, in cooperation with Colliers
Deal: 173-unit rental apartment complex, St. Albert
Price: $37.69 million
From: Dexter Associates, Vancouver
Agents: Kris Pope and Tyrone Robinson
Deal: 16-unit rental apartment building, East 3rd Avenue, North Vancouver
Price: $4.25 million
From: Cushman & Wakefield, Edmonton
Submitted by: Cushman & Wakefield investment associate Brandon Kuhn
Deal: 18-suite rental apartment building, located off of Whyte Avenue in Strathcona, Edmonton
Price: $2.6 million
From: Frontline Real Estate Services, Langley
Agent: Todd Bohn, with Stirling Richmond of CBRE Limited
Deal: 52,000-square-foot shopping centre on Vedder Road, Chilliwack
Price: $15.17 million
From: CBRE National Apartment Group, Edmonton
Submitted by: CBRE senior vice-president Bradley Gingerich
Deal: 3.8-acre development site, zoned RA7 (multi-family development), 78 Street NW, Edmonton
Price: $3.76 million
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