A Wall Street Journal article today continues to reinforce what we’ve been seeing in the Lower Mainland with real estate purchases by Government agencies lately including BCIMC’s acquisition of the Canada Post site downtown as well as Surrey City Development Corporation’s acquisition of two Surrey retail centres last year. Recent real estate purchases by quasi-government entities are explored in the article which can be read HERE:
“At the start of 2010, the world’s largest sovereign wealth fund had no property investments to speak of.
The fund manager has stated that it will invest up to 5% of its $690 billion fund in real estate by 2020, coinciding with a corresponding decrease in its bond holdings. It declined to comment for this article.”