TORONTO, Aug. 14, 2020 /CNW/ – NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) (the “REIT”) announced today that the Trustees of the REIT have declared a distribution of $0.06667 per unit for the month of August 2020, representing $0.80 per unit on an annualized basis. The distribution will be payable on September 15, 2020, to unitholders of record as at August 31, 2020.
About NorthWest Healthcare Properties Real Estate Investment Trust
NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH.UN) is an unincorporated, open-ended real estate investment trust established under the laws of the Province of Ontario. The REIT provides investors with access to a portfolio of high quality international healthcare real estate infrastructure comprised of interests in a diversified portfolio of 183 income-producing properties and 15.2 million square feet of gross leasable area located throughout major markets in Canada, Brazil, Europe, Australia and New Zealand. The REIT’s portfolio of medical office buildings, clinics, and hospitals is characterized by long term indexed leases and stable occupancies. With a fully integrated and aligned senior management team, the REIT leverages over 230 professionals across nine offices in seven countries to serve as a long-term real estate partner to leading healthcare operators.
This press release contains forward-looking statements which reflect the REIT’s current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The REIT disclaims any obligation to update these forward-looking statements.
SOURCE NorthWest Healthcare Properties Real Estate Investment Trust
For further information: Paul Dalla Lana, CEO at (416) 366-8300 x 1001.
The state of multi-family real estate in Canada – Mortgage Broker News
If any readers are friendly with commercial real estate junkies, they’ll already have heard an earful about how industrial and multi-family properties are where the smart money is being spent by CRE investors. But with unemployment still over 10 percent in August, and rents in some of Canada’s tightest markets showing signs of softening, investors eyeing the multi-family space for the first time may feel there’s reason for worry.
Not so, says Geoff McTait, executive director of origination for Timbercreek in Canada.
“The underlying fundamentals of this market are exceptionally strong here in Canada,” he says. “We continue to see a significant shortfall in terms of new supply meeting demand. That remains true, even once things normalize post-COVID.”
McTait does, however, acknowledge that the pandemic has thrown the tiniest of wrenches into the gears of the multi-family space in the form of increased vacancies and falling rents.
He says the rise in vacancies that Timbercreek has been tracking could be tied to several issues: a significant drop in immigration, an increase in the number of renters taking on roommates to cover their expenses, or unemployed apartment dwellers returning home.
“I think a lot of people are moving home,” he says.
The same factors are contributing to an overall softening in rents, which has made for some tasty headline fodder in Toronto and Vancouver. But McTait feels rents, like housing prices, could see significant growth once the economy levels out, immigration returns to normal levels and those renters who moved home temporarily are ready to get back out on their own.
“Normalization will occur,” he says. “Demand will return, which will put pressure back on pricing. And I think you’ll continue to see a shortage on the new supply side of things coming to the market.”
Where’s the demand? Follow the jobs
With densification being the order of the day in most space-starved metropolitan areas and smaller buildings being economically unfeasible for most developers, McTait says much of the future demand will be for mid- to high rises, even outside major urban areas.
But he is less convinced by the concept of the urban exodus many market hounds have been touting since the beginning of COVID-19. He says most people will still want to live within an hour or so of their employers in case they need to commute part-time or access their offices.
“The suggestion that people will go to rural locations is a nice idea at this point in time – certainly it’s more affordable – but I don’t think it’s necessarily a solution nor practical in the long-term,” he says. “Employment opportunities will continue to dictate where people live and how they live, and that will continue despite the fact that we have this new potential to work from home.”
It’s little surprise, then, that McTait identifies areas like the GTA, Greater Vancouver, and Greater Montreal as markets poised for strong growth in the multi-family sector. But surging secondary markets like Hamilton, Quebec City, and Kitchener-Waterloo will also attract attention thanks to their affordability, strong employment environments and continued population growth.
Even multi-family markets in Canada’s more problematic economies, like Calgary and Edmonton, have “pleasantly surprised” McTait. There may not be a slew of demand for new properties in these cities, but current demand levels are strong enough to support the existing inventory.
“Multi-family, more broadly, is really the one asset class that we’ve seen over time, from primary, secondary, even into tertiary markets, where you do, in general, see strong demand, even in the tougher markets,” where vacancy ranges from three to seven percent, he says.
And Timbercreek isn’t the only company bullish on the future of multi-family real estate in Canada. In its recent Multi-Family Market Update for Victoria, BC, Colliers International said multi-family properties continue to outperform many other asset types.
“This sustained performance leads many to believe that the asset class will weather the storm of the crisis and thrive in the recovery,” reads the report.
Calgary real estate sales improve despite ongoing pandemic – CTV Toronto
Calgary realtor Shaukat Hayat had his busiest summer ever, during the COVID-19 pandemic.
“During the pandemic people realize the value of a property, value of a house while they were staying inside,” said Hayat, who has been in the industry since 2006.
Hayat said homes in the $300,000 to $500,000 price range are the ones moving, with homes selling within 30 to 45 days.
“Whoever is going out, they are a very determined buyer, and whoever has listed the property, very determined seller,” said Hayat.
“Summer 2019 and summer 2020, there is an increase in the price and increase in the number of the units sold all over the city.”
Hayat points to a number of factors, including inventory levels and low interest rates on monthly mortgage payments.
The Canada Mortgage and Housing Corporation says sales started to pick up toward the end of June, but were soft in April, May and June.
CMHC released its latest Housing Market Assessment on Monday, looking at the health of the market during the second quarter of 2020.
“We had a huge economic shock in labor markets, in the oil markets which Calgary is a centre of,” said Michael Mak, senior analyst, economics with CMHC.
“This shock basically gave consumers a level of uncertainty and both sellers and buyers didn’t really have a certain outlook on the future. It may be that they decided to wait and see how the government responded how the pandemic responded before making any sales or buys.”
April to June 2020, Mak said approximately 3,400 homes sold in Calgary, compared to 5,200 during the same time period in 2019.
“The MLS average price was $423,311, in the second quarter of 2020, down four per cent from the same period in 2019,” reads the report.
Mak said the report also found there is increased supply in new homes being built in the city compared to demand.
Final sales numbers for the summer aren’t available yet, but Mak says sales are slightly higher and prices are about 10 per cent higher also.
Don’t be a stranger! Sooke real estate agent won’t shy away from your questions – Sooke News Mirror
When you’re buying your first house, you’re likely to have a thousand questions. You may even ask the same questions more than once. The same goes for selling — whether it’s your first sale or your fifth, you’ll likely ask the same questions over and over.
Most real estate agents can answer your questions the first time you ask, but it takes a special kind of ‘people person’ to treat you with genuine compassion the fourth time you ask.
“I want my clients to feel comfortable reaching out to me for anything, even if they’ve asked me before,” says Paula Wensley, a real estate agent with Macdonald Realty Ltd. “My goal is to reduce stress for my clients so they don’t lose sleep — they’ll probably lose sleep anyway, but I can do my best to make the process easier.”
Find the right fit
Paula is relatively new to Sooke but she’s no stranger to southern Vancouver Island, having lived in many Island communities over the years. That local knowledge comes in handy when helping clients find their forever-home.
“I’ve had some amazing experiences with clients who weren’t happy with where they lived, but didn’t know where to move,” she says.
They’d describe their personalities, lifestyles and goals, and ask Paula ‘Where can you see us? What community would suit us?’ Using her knowledge of local communities and her talents for connecting with clients, she’d make a recommendation.
“One client reached out a year after they’d moved in just to say thanks. She said ‘we wouldn’t have found this community without you.’ It’s amazing to have that kind of impact.”
3rd generation in real estate
Paula comes from a family of real estate agents including her grandpa, dad, uncles and cousins, so she draws from a wealth of experience beyond her years. Before real estate she worked as a property manager and commercial sales assistant, so she’s seen the industry from all sides.
“I try to offer a fresh approach — I’m up to date on new negotiating techniques and other strategies,” she says.
Paula finds she connects well with clients who prefer a bit more time and attention to their individual needs. If you have a unique situation or just want a little extra help with your listing, Paula will give you her full attention.
“I don’t see myself in sales, I see it as a service. It’s not just a conveyor belt of clients.”
Follow Paula Wensley on Facebook for her latest insights on the tight real estate market, and visit paulawensley.com to browse current listings from Mill Bay to Sidney to Sooke. Get in touch by calling 250-388-5882 or at email@example.com.
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