Colliers International is pleased to announce the sale of 198 West Hastings Street to a local private investor. Colliers represented the purchaser in this transaction which was a City of Vancouver administered tender process.

*Sold by Kelly Heed, Steve Fame & Casey Weeks

Peninsula Crossing, a 6,455 SF strip retail centre located at 24th Avenue and 152nd Street in South Surrey has been sold by David Taylor and Simon Lim of Colliers. The purchase price was $3,450,000, representing $534 per sq ft, and approx. 5.0% cap rate. The purchaser was a local investor. The property was fully leased to national and local tenants, including 7-Eleven.

Contact us for more information regarding opportunities in this area.

A two-storey warehouse/office building in the Southeast False Creek area has sold for a reported $5,950,000, or $240 per sq ft. The 24,799 sq ft building, zoned I-1, was built in 1965 and has potential for extensive renovation, addition, or conversion to office use. It had been listed for sale with Cushman Wakefield at $6,300,000.

“VANCOUVER, May 28, 2012 /CNW/ – Trez Capital Mortgage Investment Corporation (the “Company”) announced today that it has filed a final prospectus with the securities regulators in each of the provinces and territories of Canada for the initial public offering of its securities.  A copy of the prospectus is available at www.sedar.com.

The prospectus qualifies the distribution of up to 10,000,000 Class A Shares of the Company at a price of $10 per Class A Share for gross proceeds to the Company of up to $100,000,000.  A syndicate of agents co-led by RBC Dominion Securities Inc., Canaccord Genuity Corp. and CIBC World Markets Inc. and including BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., GMP Securities L.P., Raymond James Ltd., Macquarie Private Wealth Inc., Desjardins Securities Inc., Mackie Research Capital Corporation and Manulife Securities Incorporated are acting as agents for the public offering and prospective investors may subscribe for Class A Shares through one of such agents.”

Source: Canada Newswire (http://www.newswire.ca/en/story/982047/trez-capital-mortgage-investment-corporation-files-final-prospectus-for-100-million-initial-public-offering)

City sends Harbourside to hearing.

The controversial Harbourside development south of the North Shore Automall will go to an official public hearing in June following a Monday night decision by City of North Vancouver council.

Council voted 5-2 in favour of moving the project forward to a formal official community plan amendment process, after the developers made changes to the original plan and council gathered public feedback in March.