Taken by 604 City. July 9, 2014
By Paul Brent
Real estate investors have been the beneficiaries of a two-decade decline in interest rates but with rates expected to trend upward again, buyers need to be pickier and focus on operations even as the prospects for landlords are improving along with the U.S. and Canadian economies.
That is one of the conclusions that can be drawn from Jones Lang LaSalle‘s recently released report on Canada’s debt market Commercial Property Financing Renaissance. (The adjacent table is sourced from JLL Debt Capital Markets and referenced in the report.)
“Rates have been declining pretty much every year for 25 years and going forward we are looking at a reversal of that,” said Amar Nijjar, vice-president and practice lead with JLL Canada‘s Toronto office. “Borrowers will have to have some readjustment: buyers will have to see a different type of financial modelling and rely more on income growth than just cap rate-related appreciation.”
The JLL executive said the pressures behind rising bond yields and interest rates are also good news for real estate operators in general.
“They are rising because inflation is getting up and unemployment levels are going down. Those are the …read more
Source: RENX
While the proposed Park Royal highrises were heralded as an opportunity to bring in affordable housing for disabled people, the mall itself was also called out as being a bad neighbour at the District of West Vancouver’s Monday night council meeting.
Proposed Towers
The shopping centre’s proposed two towers of 24 and 17 storeys above a twostorey commercial podium at 752 Marine Drive could include more than a few hundred residential units, office space, a village square and storefronts. It may also provide the Vancouver Resources Society, a nonprofit that provides services for the physically disabled, 10 accessible units for those with a disability or mobility issues.
On Monday night, council was updated on the status of the proposed towers that may take over the former White Spot location. Andrew Browne, senior community planner, told council following a staff review and obtaining preliminary public comments, the project was found as favourable overall.
Read more: http://www.nsnews.com/news/west-vancouver-mulls-park-royal-towers-1.1198938