Timbercreek REIT sold to private equity investors

From Globe Investor

Private equity investors have snapped up one of the largest blocks of privately owned apartment buildings in Canada after its owners decided not to test the public market’s appetite for another real estateoffering.

The $182-million sale of Timbercreek Real Estate Investment Trust is the latest in a string of deals in the apartment sector, a traditionally quiet segment of the commercial real estate market where returns are steady and predictable, but cash yields are thin.

Apartment buildings – there are about 100,000 in Canada – have attracted interest from buyers from as far away as Kuwait, largely because they held their value through the recession at a time when other types of real estate, such as office buildings and shopping centres, saw prices drop. More


Bookmark and Share

***


Upcoming Events & Seminars

More Events »

Whipp Tips & News

Sweden’s largest pension fund just gave Exxon Mobil and other energy giants a stinging slap on the face

Sweden’s largest pension fund, AP7, has sold its investments in six energy companies that it says breach the Paris climate agreement

Details »

Fund Selector: ESG myths and realities

There are plenty of companies that make a positive contribution to society and the environment that have also performed extremely well.

Details »

Top UK fund manager divests from fossil fuels

Archbishop of Canterbury plays crucial role in BMO Global Asset Management’s decision to dump £20m of shares in firms such as BHP Billiton

Details »

More News »


:www.leedejonesgable.com

The information in this website was obtained from sources believed to be reliable, however, we cannot guarantee that the information is accurate or complete. The information provided is a general source of information and should not be considered personal investment advice or solicitation to buy or sell securities.

Leede Jones Gable Inc. is a
Member of IIROC and the Canadian Investor Protection Fund
Stephen Whipp is a member of the Responsible Investment Association