Photo by 604City, Flickr
By Evan Duggan
There’s a familiar sports cliché Daniel Fournier likes to use when describing his vision for Ivanhoe Cambridge in his role as the massive commercial real estate investment firm’s chairman and CEO.
“Go big or go home,” Fournier says more than once during Wednesday’s interview in a seventh-floor suite of the 75-year-old Fairmont Hotel Vancouver — a masterpiece Ivanhoe Cambridge is currently shopping as part of an ongoing shift toward tightening its grasp on high-profile shopping centres and office tower buildings.
Fournier would repeat the phrase again downstairs in a keynote address to the Vancouver Board of Trade. He comes by the sports lingo honestly. Fournier, who took over the multi-billion dollar reins of Ivanhoe Cambridge in 2010, took a break from his studies at Oxford in 1977 to play a season for the CFL’s Ottawa Rough Riders.
Fournier said he came to the West Coast partly to say “thank you to Vancouver, because we’ve done very, very well here,” but also to share insight on how he plans to transform Ivanhoe Cambridge from a real estate investment machine with $40 billion in assets, into a $70-billion behemoth.
Ivanhoe Cambridge, the real estate arm of …read more
Source:: RENX
We are pleased to present this unique opportunity to acquire a fully functioning private school property in North Vancouver. Located on a 6.5 acre site, the school contains all the facilities of a typical school including classrooms, library, gym/auditorium, cafeteria and boarding facilities with 350 dorm beds.
An 11-unit apartment building, known as Bel Aire Apartments at 6356 East Boulevard, has sold for $4,710,000, or $428,000 per unit, or a 2.10% cap rate. The buyer is East Boulevard Property (Westland) Ltd. The building had been listed for sale for $5,000,000.
Porte Development has submitted a rezoning application for a 46,239 SF site at the corner of Dawson Street and Madison Avenue in the Brentwood Area of Burnaby. Unlike the rest of Brentwood, this proposal is not for a tower but for a 6-storey woodframe building with retail at grade and 92 residential units above. The plan includes:
- a total density of 2.2 FAR
- 100,828 SF of buildable SF
- 7,890 SF of CRU space
- 21 one-beds, 60 two-beds and 11 three-beds
- 178 underground parking spaces
Woodframe product is relatively scarce and will be a welcome project amid Brentwood’s thousands of highrise units in various stages of development.
The second half of the site was assembled earlier this year after the other half was bought in 2006 for a blended cost of approximately $47 per buildable SF.