Construction & Real Estate industry M&A deals total $6.5bn in North America in February 2022 - DesignBuild Network | Canada News Media
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Construction & Real Estate industry M&A deals total $6.5bn in North America in February 2022 – DesignBuild Network

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Total construction & real estate industry M&A deals worth $6.5bn were announced in North America in February 2022, led by Blackstone Real Estate Income Trust’s $5.8bn acquisition of Preferred Apartment Communities, according to GlobalData’s deals database.

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The value marked an increase of 57.3% over the previous month of $4.1bn and a rise of 6.1% when compared with the last 12-month average of $6.08bn.

North America held a 59.83% share of the global construction & real estate industry M&A deal value that totalled $10.78bn in February 2022. With a 59.46% share and deals worth $6.41bn, the US was the top country in North America’s M&A deal value across construction & real estate industry.

In terms of M&A deal activity, North America recorded 47 deals during February 2022, marking a decrease of 44.71% over the previous month and a drop of 22.95% over the 12-month average. The US recorded 44 deals during the month.

North America construction & real estate industry M&A deals in February 2022: Top deals

The top three construction & real estate industry M&A deals accounted for 99.6% of the overall value during February 2022.

The combined value of the top three construction & real estate deals stood at $6.43bn, against the overall value of $6.5bn recorded for the month.

The top three construction & real estate industry M&A deals of February 2022 tracked by GlobalData were:

1) Blackstone Real Estate Income Trust $5.8bn acquisition deal with Preferred Apartment Communities

2) The $593m acquisition of First Alert by Resideo Technologies

3) Resolute Forest Products $39.25m acquisition deal for 50% stake in Resolute-LP Engineered Wood Larouche and Resolute-LP Engineered Wood St-PrimePartnership

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Homelessness: Tiny home village to open next week in Halifax suburb

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HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.

Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.

Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.

The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.

Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.

They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.

The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.

This report by The Canadian Press was first published Oct. 24, 2024.

The Canadian Press. All rights reserved.

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Here are some facts about British Columbia’s housing market

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Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.

Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.

Average residential home price in B.C.: $938,500

Average price in greater Vancouver (2024 year to date): $1,304,438

Average price in greater Victoria (2024 year to date): $979,103

Average price in the Okanagan (2024 year to date): $748,015

Average two-bedroom purpose-built rental in Vancouver: $2,181

Average two-bedroom purpose-built rental in Victoria: $1,839

Average two-bedroom purpose-built rental in Canada: $1,359

Rental vacancy rate in Vancouver: 0.9 per cent

How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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B.C. voters face atmospheric river with heavy rain, high winds on election day

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VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.

Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.

The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.

Wednesday was the last day for advance voting, which started on Oct. 10.

More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.

Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.

An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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