By Paul Brent

Considering Manulife Financial Corp.owns more than 38 million square feet of real estate worth valued at about $11 billion, it is easy to overlook component parts such as its relatively new Manulife Canadian Property Portfolio.

Established in 2011 as a co-mingled fund to hold diversified real estate for Canadian institutional investors it has grown to an impressive $600 million in assets in the four main property types.

A broad and balanced investment approach is at the heart of the fund’s offering, explained the executive in charge of the fund, Timothy Blair, Manulife Real Estate’s managing director and senior portfolio manager.

“We are really looking to grow that Canadian fund by investing in Canadian assets, we are looking to be geographically diversified across Canada and we invest in the four major asset classes: office, industrial, retail and multi-family – and we are also looking at some development deals.

“. . . a good and growing portfolio,” he added. “We really focus on what I would call quality assets.”

What it owns

Notable holdings of the Manulife fund include the 22-storey 736 – 6th Avenue SW in Calgary “a great little office building,” …read more

Source:: RENX

Richport Town Centre, a large strip retail and office complex located on a 5.37 acre site on Ackroyd Road has sold for a reported $74,800,000.

The property contains 116,426 SF of rentable area and is anchored by Chapters Books, Royal Bank, Starbucks, Pennington Superstore, and City Fresh Market and many other retail and office uses.

I am pleased to have acted on behalf of the Vendor and Purchaser in the sale of 3060 Edgemont Village. The property is fully leased to the Bank of Montreal on a long-term basis.

A retail property with redevelopment potential located on Kingsway in Vancouver’s Norquay Village area has sold for $8,580,000. The 13,750 SF strip plaza is leased to mostly local tenants. The 26,936 SF site is zoned C-2. On a land basis, the site sold for $127 per buildable SF.

A controversial piece of property in central Coquitlam that’s sat vacant for years will get a new lease on life, in a move that was widely opposed at a public hearing Monday.The property is located at 1649 Como Lake Ave., directly west of the Chevron station at the intersection with Poirier Street.

The proponent, represented by Tideway Developments, wants to consolidate two lots at 1649 and 1665 Como Lake Ave. to make way for a one-storey, 6,600-square-foot development encompassing four businesses.

What those businesses will look like remains unclear, as the developers are still seeking interested parties. The city’s zoning policy allows only for businesses like a grocery store, specialty food retailer, flower shop or seasonal Christmas tree stand.

The rezoning was endorsed unanimously, despite a handful of residents at the public hearing citing concerns around increased traffic, crime and vandalism, a loss of property values, and the belief that commercial units don’t belong in the neighbourhood.

Read more: http://www.thenownews.com/news/long-vacant-lot-in-coquitlam-to-be-redeveloped-1.1077604