Blackstone keeps focus on Canada: To open Toronto office

Don Wilcox, May 9, 2022

As Blackstone continues to increase its investments in Canada, the world’s largest real estate owner and operator has announced it will open an office in Toronto and appointed Janice Lin to head its real estate operations in the country.

The New York-based global investor says its current portfolio in Canada comprises about $14 billion in assets (all figures Cdn), or 429 properties, with about 75 per cent of that value in the logistics sector. READ MORE >>

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 >>