RENX’s 35 Best Canadian CRE Stories in 2021 | RENX
As we enter the holiday season and time is running out for another year, we are once again bringing our Top-35 RENX Canadian CRE Stories of 2021.
Top 35 you say? Well yes. We started out by trying to narrow the list down to 30 flagship items, but after what should be a banner year of acquisitions, buyouts and other activities, we eventually gave up. We have therefore included 35 articles.
The list includes many of the biggest and most important transactions in the industry over the past 12 months.
And as 2021 has been defined by many major multi-residential and industrial deals, that’s reflected in the selections. But the list also includes important titles from other sectors.
The ongoing pandemic is also a factor, but we haven’t focused on that because even as waves of COVID rise and fall, the commercial real estate industry continues to persevere, doing what it always does.
Focus is on Canada
As always, we focus on the Canadian business, and while some of the selections represent international transactions, or groups of transactions, a Canada-based entity is at the heart. While many articles have appeared on RENX itself, some are selected from other sources, with links to the original articles so you can look back on the 2021 that was.
We’ve included our top 10 list here in order of importance. The remaining 25 stories are roughly grouped by industry and geography, where possible. The full list of articles appears in our RENX Top-35 newsletter.
As always, we believe that the pleasure of these lists is to consider the choices and compare them with your own personal priorities. We hope you enjoy reading what we have compiled.
Finally, a big thank you to all of our readers, advertisers, contributors and countless others who help us publish RENX every day. We appreciate your support and trust.
Merry Christmas and Happy Holidays from all of us.
The Top 10 RENX:
10) Brookfield Asset Mgmt. US $ 6.5 billion BPY UPS offer
Brookfield Asset Management (BAM-AT) increased its initial offer and came to an agreement to take its Brookfield Real Estate Partners (BPY-A-T) private subsidiary. The new offer meant a payment of $ 6.5 billion for stocks she did not already control.
9) Oxford sells huge American assets, acquires
Oxford Properties transaction of billions of properties in the United States: sale of the terminal in St. John’s (with CPP Investments) to Google for $ 2.6 billion; and One Memorial Drive in Cambridge, Mass. On the industrial side, it was a major international buyer; a $ 2.8 billion portfolio of KKR and a $ 1.3 billion business with EverWest.
8) The Milton land, bought for $ 15.8 million, sells for $ 165 million
A future industrial development land across from CN’s planned new intermodal terminal in Milton has sold for $ 165 million, more than 10 times what it was acquired six years ago.
7) SmartCentres acquires 53 acres from VMC for $ 513 million
SmartCentres REIT (SRU-UN-T) paid $ 513 million to acquire a two-thirds stake in 53 acres of property at the huge Vaughan Metropolitan Center development just north of the city of Toronto. The acquisition means he is now the largest landowner in MVC.
6) Panattoni is building 2.9 million square feet. Amazon installation in Edmonton
Panattoni Development Corporation. built a huge robotic distribution center for Amazon in Parkland County, just outside of Edmonton, which will be one of the largest such distribution facilities in Canada when it opens in 2022.
5) CF acquires ownership of Buttonville Airport in the GTA for $ 193 million
Cadillac Fairview paid nearly $ 193 million to become the sole owner of the Toronto Buttonville Municipal Airport, a 169-acre property in Markham that has been regarded for years as a prime site for major redevelopment.
4) Blackstone acquires WPT Industrial in US $ 3.2 billion deal
Blackstone Real Estate Income Trust acquired based in Toronto WPT industrial REIT (WIR-UT) in an all-cash transaction for US $ 3.2 billion. WPT previously sold a minority stake in a US $ 370 million industrial portfolio in a joint venture with Investment Management Corporation of Ontario.
3) Tricon Partners With Billions Of Rental Homes Across The United States And Canada
Tricon Residential (TCN-T) Partnered to acquire / develop billions of rental housing units, committing capital to partnerships that will: purchase up to 18,000 US resale homes valued at $ 6.4 billion; acquire $ 1.8 billion in new Sun Belt homes; and build $ 500 million of multi-residential in the GTA.
2) H&R REIT sells Calgary’s Bow Tower and reorganizes
H&R REIT (HR-A-T) sold that of Calgary Bow office tower and the one in Mississauga Bell office campus in Chicago Oak Street Real Estate Capital for $ 1.67 billion, two months before announcing a major repositioning of its portfolio.
1) A group led by Canderel acquires Cominar in a $ 5.7 billion transaction
In a historic agreement, Cominar REIT (CUF-UN-T) agreed to be acquired by a Canderel– Led a consortium in a transaction that values ââthe trust at $ 5.7 billion. The arrangement, involving the sale of various parts of Cominar’s portfolio to various buyers, was approved by unitholders on December 21.