From impressive land sales to a landmark office tower and an entire retail network with hundreds of outlets, these are the top 10 deals profiled in Western Investor’s monthly Done Deals report. (We have excluded government deals.)
No 1: The Bow office tower in downtown Calgary. The $1.2 billion deal for the landmark tower closed in the second quarter of 2022, though it was announced in mid-2021 in an off-market deal. Buyer is Chicago-based Oak Street Real Estate Capital, a private equity firm.
No. 2: Lowe’s Canada sold its entire 450-outlet retail chain in Canada in November to U.S.-based Sycamore Partners in an off-market deal for $400 million.
No. 3: Skyline Industrial Real Estate Investment Trust paid $309.2 million in an off-market deal September 8, 2022, for an Alberta industrial portfolio covering four sites and two million square feet of space in Calgary and Edmonton.
No.4: Bristol Estates, a 6.5-acre parcel in Central Surrey, sold in July,2022, for $170 million. Buyer was Bosa Properties in an off-market deal brokered by Goran Bucan of Sutton West Group Realty, Vancouver.
No. 5: Port Moody’s 59-lot Coronation Park had been assembled four years earlier but finally closed at $157.2 million September 30, 2022, when buyer and developer Wesgroup Properties received city approval for a giant mixed-use development, pending rezoning. Deal was brokered by Grant Gardner and Thomas Trowbridge, assisted by Dean Andag and Jerry H. Lee of London Pacific Property Agents, Vancouver.