Clearshades
Senior Member
WTF?
- Thread starter SRC Admin
- Start date
IanO
Superstar
SOLD!
Hearing for something like $391k/suite or so which is healthy, especially for a secondary market like 124st.
That frees up some capital.
Hearing for something like $391k/suite or so which is healthy, especially for a secondary market like 124st.
That frees up some capital.
MacLac
Senior Member
Like for a Warehouse Park tower and/or a Clifton Tower?
Offworld
Active Member
Or to shore up capital in light of shifting debt market dynamics?
mcr
Active Member
Boring! We want nice buildings!
MacLac
Senior Member
Mr.BuzzKillington over here.....
archited
Senior Member
Have you been hanging out with the major 'O?
Offworld
Active Member
It's well known in the real estate industry across Canada that many property investors are selling assets to shore up their balance sheet, in response to shifting debt market conditions (especially upon renewal), market softness, stubbornly high costs and generally declining values.
archited
Senior Member
^ some of those factors apply less to Edmonton than other places across the country -- as a consequence I am very suspicious of "general" economic conditions being applied locally.to Edmonton. Money marketeers should be sussing out the rosiest opportunities -- the problem, generally, with Canada is that the financial decision makers are cloistered in TO which for Economic prospectus' for the Big E might as well be in Timbuktu. I had been holding out hope for CW bank but now that has been purchased by a bank out of PQ (I hope they at least look at western Canadian metrics independently of Ontariario). So I say to those property investors that you refer to "buy Alberta"!
MacLac
Senior Member
Sold it for $79.4M. Plus got 4 years rental income out of it plus that’s probably $20M than it cost to build. I’d say Autograph got the good end of the deal!
www.capreit.ca
CAPREIT announces $194 million in new acquisition and disposition activity - Canadian Apartment Properties REIT
Canadian Apartment Properties Real Estate Investment Trust announced today that it has completed two non-core dispositions in Canada for combined gross proceeds of $96.8 million, in addition to closing on the previously announced 717-suite sale in Montréal for $103.8 million. CAPREIT also...
www.capreit.ca
archited
Senior Member
^ A word of caution -- developers do not take cash windfalls into a scenario where they apply out-of-pocket funds to new developments -- they try to leverage their holdings to the largest extent possible and cash in the jeans just means that the door to the bank is open wider today than it was yesterday.
Barnaby
Senior Member
Similar thing to what Westrich did 2 or so years ago. Now they're building multiple projects in central Edmonton. It will be great if Autograph does the same thing.
Expect to see more REITs buying up properties like this as interest rates decrease.
Expect to see more REITs buying up properties like this as interest rates decrease.
IanO
Superstar
thommyjo
Senior Member
Badly need to fill 3 vacancies now. I’m voting for a fast food joint for the old good earth space
David A
Senior Member
Could do well in this area, but the pervasive suburban mentality here has trouble conceiving of something without a drive through, even though it seems to work well in many other places.