Canadian Apartment Magazine - Transactions
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Transactions

Q2 2016 apartment market summary

National vacancy levels remain healthy as we move into Q3, supporting strong income stability for owners and investors active in the Canadian apartment market.

CAPREIT acquisition adds townhouse complex

The CAPREIT acquisition of a Markham townhome property for $16.4 million helps solidify it as one of Canada's largest residential landlords.
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Investor demand targets purpose-built rental

Morguard's Director of Research Keith Reading provides advance insights into Q1 market conditions, noting that things continue to look optimistic for the purpose-built rental scene.

$67-million Morguard acquisition in Ottawa

Morguard North American Residential REIT announced that it has purchased 160 Chapel Street, a rental apartment building in Ottawa, ON, for $67 million, exclusive of closing costs.

GTA apartment market trends and transactions

RealNet Canada Inc. announced 2015 GTA apartment market results, noting that total dollar volume for the 12-month period reached $1.7 billion, representing a year-over-year increase

CAPREIT expands presence in London, Ontario

CAPREIT announced that it has completed the acquisition of a portfolio of six apartment and townhome properties located in London, Ontario, totaling 670 rental suites.
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Pure Multi-Family REIT sells Texas property

Pure Multi-Family REIT announced the successful and profitable sale of Windsong Apartments located in Dallas, Texas, for gross proceeds of US$22.0 million. Windsong is comprised

B.C. offers flexibility for redevelopment

A proposed amendment to British Columbia’s Strata Property Act could make it easier for apartment developers to scoop up prime real estate in B.C.’s hottest neighbourhoods.

LREIT announces sale of Winnipeg complex

LREIT announced that it has completed the sale of Colony Square in downtown Winnipeg for $70.25 million. The three tower complex consists of 428 apartment suites, approximately 83,300 square feet of commercial space and a 270-stall underground.
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Milestone acquires 15 U.S. properties

Milestone Apartments Real Estate Investment Trust announced that it has entered into a definitive agreement with Starwood Capital Group to acquire, by way of merger, Landmark Apartment Trust for US $8.17 per Landmark share in cash, representing a total enterprise value of approximately US $1.9 billion.

GTA cap rate hits new benchmark low

The average cap rate in the GTA for the third quarter of 2015 (Q3’15) hit its lowest level in the last 30 years. Cap rate in Q3’15 stood at 3.75 per cent, down from 4.2 per cent in Q2’15 and down almost 50 per cent from the 6.3 per cent posted in Q3’10.

Pure Multi-Family REIT closes Texas acquisition

Pure Multi-Family REIT has announced the successful closing of the Brackenridge at Midtown, a multi-family apartment community in San Antonio, Texas, for a purchase price of US $51,000,000.

Primecorp completes 23-property sale

The Primecorp Group of Companies is pleased to announce that its National Multi-Residential Investment Sales Group led by Aik Aliferis and Sam Firestone, has successfully completed the sale of a 23-property, 1,685 unit multi-family portfolio in Windsor, Ontario.

CAPREIT acquires 19 Vancouver properties

CAPREIT announced that it has completed the acquisition of a portfolio of 19 apartment properties in the Greater Vancouver Area totaling 919 residential suites. The purchase price of $170.0 million (excluding transaction costs) was funded with CAPREIT's Acquisition and Operating credit facility.

LREIT agrees to sell Winnipeg apartment towers

Lanesborough Real Estate Investment Trust (LREIT) announced that it has agreed to sell Colony Square in downtown Winnipeg, MB for $70.25 million.

Chartwell acquires three new properties

Chartwell Retirement Residences announced that it acquired three retirement residences for an aggregate purchase price of $170.7 million from three separate groups of vendors affiliated with MTCO Holdings Inc.

GWL Realty Advisors acquires Halifax property

GWL Realty Advisors Inc. announced the acquisition of Royal Gardens on behalf of an investor client. This acquisition increases the total value of the company’s managed multi-residential portfolio in Nova Scotia to $201.2 million, and $2.7 billion across Canada.