Canadian REITs Brought to Market / Taken Private€¦ · 01/01/2007 · Properties Purchaser Hines...
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2007 2005 2006 Summit REIT Market Cap: $2,093 TGS North American REIT Market Cap: $265 Retirement Residences REIT Market Cap: $774 Holloway Lodging REIT Market Cap: $78 InStorage REIT Market Cap: $113 Crombie REIT Market Cap: $314 Temple REIT Market Cap: $36 Extendicare REIT Market Cap: $1,006 Scott’s REIT Market Cap: $53 O&Y REIT Market Cap: $968 Alexis Nihon REIT Market Cap: $555 “IN” “OUT” $1,582MM $4,755MM Canadian REITs Brought to Market / Taken Private
Transcript of Canadian REITs Brought to Market / Taken Private€¦ · 01/01/2007 · Properties Purchaser Hines...
20072005 2006
Summit REITMarket Cap: $2,093
TGS North American REITMarket Cap: $265
Retirement Residences REITMarket Cap: $774
Holloway Lodging REITMarket Cap: $78
InStorage REITMarket Cap: $113
Crombie REITMarket Cap: $314
Temple REITMarket Cap: $36
Extendicare REITMarket Cap: $1,006
Scott’s REITMarket Cap: $53
O&Y REITMarket Cap: $968
Alexis Nihon REITMarket Cap: $555
“IN”
“OUT”
$1,582MM
$4,755MM
Canadian REITs Brought to Market / Taken Private
All Canadian REITs currently undergoing a strategic review process have announced the process since Jan 1, 2007
Canadian REITs Under Strategic Review
Market Cap: $137Market Cap: $633
Market Cap: $1,149 Market Cap: $1,092
Market Cap: $786
Market Cap: $1,437
TOTAL = $5,233MM
Three West CentreRichmond, British Columbia
Sale Date Feb-07Vendor Private InvestorPurchaser Private InvestorLeaseable Area 73,365 (s.f.)Site Area 75,048 (s.f.)Price $30,200,000Price (Per Unit) $411.00Overall Cap Rate 6.50%IRR 8.90%CommentsMixed use development located in the Richmond City Centre
Central CitySurrey, British Columbia
Sale Date Currently ListedVendor ICBC PropertiesLeaseable Area 1.06M (s.f.)
Office – 570,000 s.f.Retail – 490,000 s.f.
Projected NOI $16,000,000Comments- State of the art office complex which complements an existing regional shopping mall.- Simon Fraser University’s Surrey Campus on site is University owned.
Quayside PortfolioNew Westminster, British Columbia
Sale Date Mar-07Vendor LaSalle Investment
ManagementPurchaser Narland Investments Ltd.Leaseable Area Inn at Westminster Quay
126 roomsFirst Capital Place48,027 s.f.1000 Quayside Drive1.94 acres
Price $32,000,000Comments1000 Quayside Drive development site of 1.94 acres has a commercial / residential density of 5.2 FSR
Aspen PortfolioCalgary, Alberta
Sale Date Mar-07Vendor Aspen PropertiesPurchaser Dundee REITLeaseable Area Life Plaza - 547,000 sf
Atrium I – 109,217 s.f.Atrium II – 109,375 s.f.Dominion Centre – 98,297 s.f.
Sale Price $171,700,000Price (p.s.f.) $316Overall Cap Rate 6.00%IRR 8.50%
West Edmonton VillageEdmonton, Alberta
Sale Date Feb-07Vendor Aquilini Investment Group Purchaser Boardwalk REITLeaseable Area 1,178 unitsSale Price $143,500,000Price (per unit) $122,127Overall Cap Rate 5.47%CommentsThe largest residential complex in Western Canada
30 & 55 St. Clair Avenue WestToronto, Ontario
Sale Date Jan-07Vendor KingSett Capital Inc.Purchaser Dundee REITLeaseable Area 434,687 s.f.Sale Price $109,625,000Price (p.s.f.) $252Overall Cap Rate 6.90% / 6.94%IRR 8.15% / 8.50%
Atrium on BayToronto, Ontario
Sale Date Feb-07Vendor Brookfield
PropertiesPurchaser Hines REITLeaseable Area 1,079,870 s.f.Sale Price $249,950,000Price (p.s.f.) $231Overall Cap Rate 6.00%IRR 8.75%CommentsProperty consists of 595 Bay Street, 20Dundas Street West, 40 Dundas Street West,a two level retail mall and concourse levels.
Cité MultimediaMontreal, Quebec
Sale Date Mar-07Vendor Northam Realty AdvisorsPurchaser Allied Properties REITLeaseable Area 955,564 s.f.Sale Price $242,000,000Price (p.s.f.) $227Overall Cap Rate 7.60%CommentsConsists of seven phases and is situated in Old Montreal
