Darwin Construction has applied to the District of North Vancouver to rezone 4 single family lots at 1561-1583 Oxford Street. The proposal is for 107 rental apartment units and 2,168 sq ft of commercial floorspace in a 6 storey building over 96 parking stalls. The proposed density is 3.35 FSR, which exceeds the 2.5 FSR medium density floor space envisioned in the District’s Official Community Plan.

The site located at the south end of the Lower Lynn Town Centre adjacent to Phibbs Exchange. The Lower Lynn Area Plan is expected to be adopted later in 2013.

On the heels of major acquisitions around the globe by Canadian pension funds, the National Post sits down with Michael Sabia, chief executive at The Caisse de Dépôt et Placement du Québec to discuss a philosophical shift away from equities towards infrastructure, real estate (via their subsidiary Ivanhoe Cambridge) and other non-fixed income assets as the struggle to meet pension obligations mounts.

To view the article click HERE.

KEYreit Board Recommends Unitholders REJECT the Unsolicited Huntingdon Partial Offer and Announces Special Meeting of Unitholders.

“TORONTO, Feb. 15, 2013 /CNW/ – KEYreit (TSX: KRE.UN) announced today its board of trustees, on the recommendation of its special committee, unanimously recommends that unitholders REJECT the unsolicited partial offer by Huntingdon Capital Corp. If successful, the unsolicited partial offer would give Huntingdon effective control of KEYreit.

“The board strongly believes the unsolicited partial offer is wholly inadequate, coercive, highly opportunistic and does not represent fair value for your units,” said Donald Biback, Chairman of the board of trustees. “The partial offer fails to provide unitholders with an appropriate control premium for the units purchased, and provides no premium for units not purchased. It significantly undervalues KEYreit’s assets and businesses, which have a proven track record of creating value for unitholders. We urge unitholders to reject Huntingdon’s wholly inadequate partial offer.”

The board of trustees and management, representing 17% of KEYreit’s issued and outstanding units, have stated that they will not tender to Huntingdon’s coercive unsolicited partial offer.”

Courtesy Canada Newswire