The building occupied by Edmonds Appliance in Burnaby has been sold, for $2,650,000, or $250 /SF. The 10,687 SF building is located on a 20,000 SF site and had been listed for sale for $2,950,000. The property is zoned C-4. Edmonds Appliance will be relocating.

An apartment building located at East 44th Avenue and Fraser Street in East Vancouver has sold. The 18-unit building sold for $3,220,000, or $179,000 per unit. The cap rate on the transaction was 3.2% and the marketing materials suggested there is the possibility to raise rents substantially.

Standard Life capitalises on Canada’s property ‘bubble’ – Banking – Scotsman.com.

“INSURANCE giant Standard Life has raised £65 million by selling two commercial properties in Canada, where critics have suggested the market is in the grip of a bubble.

Courtesy Globe & Mail:

“Canada Pension Plan Investment Board has struck a deal for its first real estate investment in the Nordic region.

Polygon Homes has purchased Twin Lakes Estates, a 57-unit townhome development located in the Lynn Valley are of North Vancouver. The 9.43 acre property represents excellent redevelopment potential and was acquired for $17,100,000, equating to approximately $300,000 per unit.