11 North Vancouver schools for sale or not.
The North Vancouver Board of Education is likely to find some stiff opposition to a proposal that could involve selling off 11 school district owned properties that are no longer needed.
Debt financing for most commercial real estate assets in Metro Vancouver is readily available as lenders continue to offer mortgage rates underpinned by historically low interest rates. Are interest rates on the rise? Many are speculating as to when a hike will occur, with most believing this will take place in late 2012 or early 2013.
The yield on 5-year GOC bonds remains below 2.0% which is supporting rates as low as 4.00% on commercial real estate debt.
Source: Bank of Canada
2303 – 2305 West 41st Avenue in Kerrisdale has sold. The two-storey retail and office building sold for $7,400,000. With 10,600 sq ft of rentable area, the price per SF was $698.
Located mid-block on the East side of Main Street one block North Of King Edward Avenue, this 5,000 square foot redevelopment site is currently improved with a 2,400 square foot, two tenant retail building.
The property was sold in late April 2012 by Ted Mildon and Matt Saunders.
Tower moves towards approval. Polygon’s 33-storey, 253 unit tower at Dow and Beresford in Metrotown.
