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Friday , 27 February 2015
  • The Bay announces $3.4 billion commercial real estate joint venture

    The Bay announces $3.4 billion commercial real estate joint venture

    What does a giant retailer with over three centuries of history behind it do when its real estate assets are worth more than the company itself? It separates its assets from its operations, of course. In the case of Canada’s iconic Hudson’s Bay Company (HBC), whose extensive real estate holdings are reportedly worth $9.2 billion, the retailer enters into  joint ventures with two of the biggest real estate investment trusts (REITs) in Canada and the US, creating two new companies worth $3.4 billion, in the process bringing in about $1.1 billion in cash to reduce debt. The announcement of this arrangement was delightful enough to investors to lift HBC’s share price 22 per cent to a record high of $27.03, according to Bloomberg, though the deal will not close for three months. In the US part of the deal, HBC contributes forty-two properties to a retail venture with Simon Property ... Read More »
  • Preview newest suites at award-winning Metrogate community from Tridel

    Preview newest suites at award-winning Metrogate community from Tridel

    Tridel is inviting the public to come and take a look at the latest phase of its popular, award-winning master-planned Metrogate community in Scarborough. The brand new, affordably priced Avani 2 will stand next to its sister building Avani 1, now under construction. The two condominium towers will be connected by a two-storey glass-faced podium. When Tridel uses the word “community” to describe Metrogate, they are not speaking in metaphors. The entire Metrogate project was planned to be a neighbourhood in the traditional sense of the word, a place with pedestrian-friendly streets, retail, daycare, access to transit, and a grand central park for children to play and for holding community events. Tridel has taken this neighbourhood concept so seriously that Metrogate is a designated LEED ND (Neighbourhood Development) community, a rare achievement. As for the building itself, Avani 2 will have concierge-attended access and will offer a range of recreational ... Read More »

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