Landing condos . Ontario Real Estate Company 300 million swept Wenshi apartments
Landing condos . Ontario Real Estate Company 300 million swept Wenshi apartments. Two Ontario real estate investment companies recently swept 614 units in several prime residential lots in Vancouver, and the Wen City Council moved a motion asking the federal government to pay attention to the trend of real estate investment trusts (REIT) companies increasing their holdings of residential units in the city.Please Visit: Landing condos to Get Your VVIP Registration Today!
Although the COVID-19 epidemic has reduced the demand for rented properties and led to a drop in rents, some property managers have pointed out that investors who are interested in buying apartments for profit think that this phenomenon is only temporary.
Lance Coulson, deputy chief executive of CBRE property Company (CBRE), sold 15 rented Baimin buildings in early January, including 614 residential units in the western end of Wenzhou (West End), South Guran Lake (South Granville), West Gray Point (West Point Grey), Kislano (Kitsilano) and Marpole (Marpole), originally owned by Vancouver real estate company Hollyburn Properties. The buyers bid a total of 293 million yuan for two Ontario-based real estate investment trusts, InterRent in Ottawa and Crestpoint in Toronto.
The scale of the deal caught the attention of the Vancouver City Council, and City Councillor Jean Swanson moved to Woking that the federal government calculate taxes on these companies on the basis that REIT manufactures or reduces the number of affordable residential units. She also suggested that the authorities should take measures to restrict buyers of these transactions from increasing rents, while federal and provincial governments should assist non-profit-making organizations and cooperatives to purchase leased properties.
Coulson analysis, real estate investment companies with deep pockets, recently more interested in Vancouver and British Columbia property market, but it is difficult to predict whether large-scale transactions will continue to come. “Vancouver is not a big market compared to Canada, and trading in this model is more common in Ontario and Quebec.” He believes that apartments provide basic housing needs and belong to the “defensive asset class” in the investment market, which REIT hopes to offset some of the losses they suffered in retail and office property during the outbreak. Investors believe that foreign students and new immigrants will come back after the epidemic, tightening the vacancy rate again and rents will rise again.