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Crestpoint acquires Surrey industrial, Hamilton retail assets | RENX – Real Estate News EXchange

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IMAGE: The South Surrey Business Park in Greater Vancouver has been acquired by Crestpoint Real Estate. (Courtesy Crestpoint)

The South Surrey Business Park in Greater Vancouver has been acquired by Crestpoint Real Estate. (Courtesy Crestpoint)

Crestpoint Real Estate Investments Ltd. announced Thursday it has acquired major properties in two Canadian metropolitan areas; the Centre on Barton shopping centre in Hamilton, and the South Surrey Business Park in Metro Vancouver, for a total expenditure of over $300 million.

Following these acquisitions, Crestpoint’s total assets under management have grown to approximately $5.3 billion.

“To grow the portfolio with such high-quality assets in a difficult environment, especially in the industrial sector, should provide long-term tangible benefits to our portfolio,” said Kevin Leon, president and founder of Crestpoint, in the announcement. “Despite a challenging year, Crestpoint managed to acquire over $700 million of high quality properties across Canada in 2020.”

The Centre on Barton is one of the few major retail transactions to occur in Canada since the beginning of the pandemic, which hit some sectors of the shopping sector hard due to government-mandated lockdowns and other restrictions.

South Surrey Business Park

The park comprises properties at 2920 188th St., 18899 28th Ave., 18880 30th Ave. and 2945 190th St, in Surrey, with easy access to the Canada-U.S. border,

South Surrey Business Park is a state-of-the-art, multi-tenant class-A industrial park which was built between 2018 and 2020 by Hopewell Development (the industrial/retail development division of Calgary-based Hopewell Group of Companies).

The industrial complex is situated on a 38.9-acre site and is comprised of four buildings spanning 731,000 square feet.

The buildings feature 32-foot clear heights, over 150 loading doors and an abundance of parking, Crestpoint says. Occupying a full city block, the property is located close to four municipal roads and multiple highways. It is fully leased to a roster of tenants which include Amazon and DSV Solutions.

“This acquisition provides Crestpoint with the opportunity to own a best-in-class industrial park that is fully leased to a resilient roster of tenants at below-market rents, presenting the opportunity to increase income upon rollover,” Leon said in the release.

The Centre on Barton

Centre on Barton is a 677,000-square-foot open-format regional shopping centre on a 66.4-acre site at 1275 Barton St. E.

The property is comprised of 23 buildings and is currently 87 per cent leased to over 60 national and regional tenants. It is anchored by Walmart, Metro and Canadian Tire and has a diverse roster of ancillary tenants including Shoppers Drug Mart, LCBO, The Brick, Staples and all five Schedule I Canadian banks.

Built between 2009 and 2013, the site offers local and regional access as it sits between the Queen Elizabeth Way and downtown Hamilton. It’s within close proximity to several bus routes and GO Transit stations.

“We strongly believe that this ideally situated, defensive retail asset is a great addition to our well-diversified portfolio of commercial real estate. This asset provides long-term, steady cash flow from strong credit tenants with great access to a large population base that can withstand the retail transformation currently underway.” Leon said in the release.

About Crestpoint Real Estate Investments Ltd.

Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager with $5.3 billion of gross assets under management.

Crestpoint is part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management company that provides investment management products and services to institutional and high net-worth clients.

With offices across Canada and in Chicago, and London, Connor, Clark & Lunn Financial Group and its affiliates manage over $85 billion in assets. For more information, please visit: www.crestpoint.ca.

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With the real estate market still growing, here's how to invest this year – Financial Post

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Article content

This article was created by StackCommerce. While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned.

Investing in real estate has always been considered a smart move, and with so many Canadians in search of better housing thanks to the pandemic, the moment is right to strike. RBC estimates home resales in Canada increased by 13 per cent last year and predicts sales will hit an even higher level in 2021. Clearly, there is money to be made, but understanding the real estate market requires skill and know-how.

Every good investor takes time to study their intended market before making a move. Investing in a home for your entire family is considerably different from nailing down the perfect time for buying a building to flip when the demand is high. If you have ever considered purchasing an investment property, you’ve probably struggled with deciding which type of home is the right one to pour your money into. Not to mention all the other important questions you’ll need to answer for an endeavour as big as this one.

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'Enamoured with the Hammer': Toronto real estate agent rhymes about downtown Hamilton loft – TheSpec.com

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The career trajectory of Arty Basinski is a somewhat head-spinning affair. First he was a musician, writing his own songs and playing in bands. This didn’t pay the bills, though, so he went into real estate.

Early in his newfound profession, after struggling for a few months, he had a breakthrough — why not advertise the properties using the power of song?

The plan worked. Now, Basinski’s listings go viral online on a semi-regular basis, thanks to the music videos he makes for his clients.

First it was “Lil Yellow House,” a duet he performed with the owner of a semi-detached bungalow in Toronto’s east end. The video amassed over 66,000 views on YouTube and the house sold for just under asking price within a week.

His latest work is a promotional video for a mixed-use building in downtown Hamilton, which includes two apartments above a recently-abandoned vape store.

In “Loft Mi Casa,” which had just over 1,000 views on YouTube as of Jan. 22, Basinski makes the case for buying real estate in Hamilton.

www.LoftMiCasa.com for all the details on this Hamilton Storefront Property

It opens with a shot of Basinski standing before the Toronto skyline, CN Tower in the distance, evidently down on his luck. A man in a leopard-print onesie kicks him in the stomach for slapstick effect.

“Leaving T.O., I’ve got nothing left to give. The bills are piling up, I can’t afford to live,” he tells us.

So off he goes to Hamilton, westbound along the QEW, to the land of cheaper real estate.

“I’m enamoured with the Hammer,” the Torontonian rhymes. “Luxury condos are advertising; watch construction from your patio — quite mesmerizing.”

Basinski’s musical background has been a boon for his real estate career. “I’ve wanted to do this for a long time, being a musician myself,” he told The Spectator. “Oddly enough, I didn’t make it as a musician, but the real estate game turned me back into one, I guess.”

He composes most of the music himself with help from his clients, many of whom have musical hobbies. The chorus in “Loft Mi Casa” — seemingly salsa-inspired, impressively catchy — was recorded in his client’s home studio. The client sings the hook.

When he’s not selling property or rapping about it, Basinski is part of a roving circus act. He drums, he juggles, he spins sticks lit on fire and he walks around on stilts — sometimes all at once.

His novel approach to advertising lends itself to commercial property especially, which can take between six months and a year to sell, he said. “It takes so long to sell commercial storefronts, so you have to keep the property at the forefront of people’s minds. You have to come up with new ways to get people to remember these properties.”

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In addition to two apartments and storefront, the Loft Mi Casa building, at 17 John St. N., includes a storage room and an outdoor patio. Its namesake loft boasts a 25-foot-high ceiling and mezzanine bedroom with a walk-in closet.

A “ROI guarantee,” said Basinski. That’s return on investment.

The COVID-19 pandemic has made properties harder to sell, so Basinski has also offered a few incentives. If you find the hidden cat in the 3D walk-through posted to his website, he’ll shave off $5,000.

Jacob Lorinc

Jacob Lorinc is a Hamilton-based reporter covering business for The Spectator. The funding allows him to report on stories about education.

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With the real estate market still growing, here's how to invest this year – Regina Leader-Post

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Article content

This article was created by StackCommerce. While Postmedia may collect a commission on sales through the links on this page, we are not being paid by the brands mentioned.

Investing in real estate has always been considered a smart move, and with so many Canadians in search of better housing thanks to the pandemic, the moment is right to strike. RBC estimates home resales in Canada increased by 13 per cent last year and predicts sales will hit an even higher level in 2021. Clearly, there is money to be made, but understanding the real estate market requires skill and know-how.

Every good investor takes time to study their intended market before making a move. Investing in a home for your entire family is considerably different from nailing down the perfect time for buying a building to flip when the demand is high. If you have ever considered purchasing an investment property, you’ve probably struggled with deciding which type of home is the right one to pour your money into. Not to mention all the other important questions you’ll need to answer for an endeavour as big as this one.

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