Total construction & real estate industry M&A deals worth $670m were announced in North America in March 2022, led by Woodgrain Millwork’s $350m acquisition of Huttig Building Products, according to GlobalData’s deals database.
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The value marked a decrease of 89.6% over the previous month of $6.45bn and a drop of 89.5% when compared with the last 12-month average of $6.37bn.
North America held an 8.33% share of the global construction & real estate industry M&A deal value that totalled $8.04bn in March 2022. With an 8.33% share and deals worth $670m, 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 51 deals during March 2022, marking an increase of 8.51% over the previous month and a drop of 17.74% over the 12-month average. The US recorded 48 deals during the month.
North America construction & real estate industry M&A deals in March 2022: Top deals
The top three construction & real estate industry M&A deals accounted for 100% of the overall value during March 2022.
The combined value of the top three construction & real estate deals stood at $670m, against the overall value of $670m recorded for the month.
The top three construction & real estate industry M&A deals of March 2022 tracked by GlobalData were:
1) Woodgrain Millwork $350m acquisition deal with Huttig Building Products
2) The $291m acquisition of Cedar Realty Trust by Wheeler Real Estate Investment Trust
3) Mortgage Connect $29m acquisition deal with Adfitech
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Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.
OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.
The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.
On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.
CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”
The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.
The number of newly listed properties was up 1.1 per cent month-over-month.
This report by The Canadian Press was first published Sept. 16, 2024.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
