KingSett Capital’s $193.5-million purchase of Ivanhoe Cambridge’s stake in the Bayshore Shopping Centre highlighted a “robust” second quarter for commercial real estate investment in the capital, CBRE said Monday.
Investors spent a total of $767-million on Ottawa commercial properties from April to June, the real estate firm said in its latest report.
That’s the third-highest quarterly figure in the past three years and puts the city on pace to top the $2.2-billion mark in 2021, which would represent the third-largest annual investment figure in Ottawa’s history, CBRE said.
OBJ360 (Sponsored)
Last month Ottawa Salus launched “Opening Doors to Dignity,” a $5-million campaign to construct a 54-unit independent living building on Capilano Drive. Set to open in late 2025, this innovative
Investing in the next generation: Ottawa businesses encouraged to build futures through mentorship
Do you remember the mentor in your life who helped shape your career? In the business world, success often depends on the connections we build, fuelled by guidance and support
“After declining somewhat in Q1 2021 due to persistent COVID lockdowns, investment activity made a robust improvement in Q2 2021,” the company said, noting deals were split evenly between smaller transactions valued at less than $20 million and larger deals.
Retail deals accounted for the largest share of investments in the second quarter at $248-million, followed by multi-family transactions at $143-million.
Other significant deals in the second quarter included the $44-million sale of the Carleton Suite Hotel to a private investor and another private investor’s $43.8-million purchase of a 200-suite multi-residential complex at 324 Cambridge St. N.
