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DiCenzo Homes has proposed a 12-storey, 165-unit residential tower at 639 Rymal Rd. in Hamilton.

DiCenzo Homes proposes a 12-storey residential tower on Hamilton Mountain

It’s great to see that over the last two weeks, we’ve continued to see good deal flow, despite interest rates tightening activity to some extent.

This week’s largest transaction took place in Grimsby, where Anatolia Group purchased 35.3 acres of vacant industrial land for $56.3 million (nearly $1.6 million/acre).

The price of Hamilton industrial land continues to escalate.

Other notable transactions include:

  1. downtown corner property at 150 Main St. E. was purchased for $6.1 million ($9.5 million/acre), which is comparable to high-density residential land values.
  2. Granite REIT purchased 10 acres of residential land in Brantford for $6.3 million (nearly $630,000/acre).

It’s also great to see that multiple office transactions have taken place over the last two weeks, with the majority being medical-related.

In the news,

  • DiCenzo Homes has proposed a 12-storey residential tower.
  • Hamilton Council rejected a plan to exempt part of Ancaster from housing intensification.
  • The national industrial vacancy rate hit a record low of 1.6%.
The GHA Sales Transaction Database offers you this week’s CRE transaction activity.
News Headlines

Hamilton Design Review Panel: 639 Rymal Rd. W.
August 2022

253 King William development to lease units for as little as $85/month
Fast Company, August 19, 2022

Council rejects plant to exempt part of Ancaster from housing intensification
The Hamilton Spectator, August 16, 2020

Leap of faith: Hamilton church converted into apartments
The Hamilton Spectator, August 23, 2020

Evolving Workforces: Toronto Lab Market H1 2022 Report — A Nascent Real Estate Market On The Rise
CBRE Research, August 2022

Councillors approve townhouse development on Rymal Rd
The Hamilton Spectator, August 16, 2020

Last Stelco blast furnace demolished on Hamilton bayfront
The Hamilton Spectator, August 17, 2020

New Vision church needs $3.9M to transform into 1,000 seat music venue
CBC News, August 22, 2022

New Hamilton census data 
The Hamilton Spectator, August 24, 2022

How Hamilton, Burlington have changed since last census
The Hamilton Spectator, August 24, 2022

Hamilton’s Beasley Park to receive project funding
CBC News, August 27, 2022

Granite kicks off Brantford business park
RENX, August 19, 2022

Waterloo’s sky-rocketing rental prices show no signs of slowing
The Record, August 24, 2022

Niagara needs 32,000 homes over next decade
The St. Catharines Standard, August 22, 2022

Toronto area CRE deals total $7B, up 43% y/y
The Toronto Star, August 18, 2022

Ontario’s 1.5M homes by 2031 not likely 
The CBC News, August 16, 2022

National industrial vacancy rate hits record low of 1.6%
The Globe & Mail, August 22, 2022

Allied Properties REIT president and CEO Michael Emory

Allied buying 6 office buildings from Choice for $794M

Allied Properties REIT president and CEO Michael Emory

RENX, March 7, 2022

Allied Properties REIT has an agreement to acquire six urban office properties comprising about 1.2 million square feet of space from Choice Properties REIT for $794 million.

Three of the buildings are in Toronto, one in Montréal and two in Vancouver.

Allied (AP-UN-T) says it will issue trust units to Choice Properties (CHP-UN-T) to finance 75 per cent of the purchase price (at $50.30 per unit) and provide a promissory note for the remaining 25 per cent. READ MORE >>

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