Monday, July 5, 2010
Homburg Canada Real Estate Investment Trust announces closing of over-allotment option associated with its recently completed initial public offering
MONTREAL, June 29 /CNW/ - Homburg Canada Real Estate Investment Trust ("HCR") (TSX: HCR.UN) announced today that pursuant to an over-allotment option granted under the underwriting agreement dated May 14, 2010 between HCR, Homburg Canada REIT Limited Partnership, Homburg Invest Inc. ("Homburg Invest"), Homburg Canada Incorporated and a syndicate of underwriters led by TD Securities Inc. (the "Underwriters"), the Underwriters have purchased 1,628,900 additional units of HCR ("Units") at a price of $10.00 per Unit, of which 651,560 Units were issued and sold by HCR from treasury for an aggregate gross consideration of $6,515,600 to HCR and 977,340 Units were sold by Homco Realty Fund (199) Limited Partnership, a subsidiary of Homburg Invest (which acted as a promoter of HCR), as a secondary offering of a portion of the Units it holds for an aggregate gross consideration of $9,773,400 to Homburg Invest. The net proceeds to HCR from the exercise of the over-allotment option will be used by HCR to fund growth opportunities and acquisitions and for general working capital purposes.
Thursday, January 14, 2010
Canada's Real Estate Market Continues Strong Rebound
anada's real estate market continues to rebound, and property investment is quickly regaining its appeal, sparking a turnaround and driving housing sales and prices from Toronto to Montreal and Vancouver. The momentum from 2009's strong finish, spurred by attractive lending rates and renewed consumer confidence, should carry over to the first half of 2010. See the following article from Property Wire for more on this.
Vancouver real estate
Vancouver, Canada
The residential real estate market in Canada is expected to remain unusually strong through the first half of this year after a robust finish to 2009, according to a new survey.
The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity to new highs, according to the report from Royal LePage, which has a network of 14,000 agents across the country. It found that property prices appreciated in late 2009, with fourth quarter averages higher than in the fourth quarter of 2008.
Vancouver real estate
Vancouver, Canada
The residential real estate market in Canada is expected to remain unusually strong through the first half of this year after a robust finish to 2009, according to a new survey.
The stimulus effect of low borrowing costs has contributed to a sharp rise in demand that has driven activity to new highs, according to the report from Royal LePage, which has a network of 14,000 agents across the country. It found that property prices appreciated in late 2009, with fourth quarter averages higher than in the fourth quarter of 2008.
Wednesday, January 13, 2010
Avison Young releases 2010 national real estate forecast for U.S., Canada
anadian real estate market fundamentals, though shaken, remain relatively intact while U.S. markets continue to shoulder the brunt of the downturn with recovery expected to be longer and drawn out
CHICAGO, Jan. 13 /PRNewswire/ - Recessionary headwinds took their toll on real estate markets on both sides of the border in 2009, with the U.S. continuing to shoulder the worst of the storm. Now several quarters into it, the Canadian real estate sector has not been entirely immune, but appears to be weathering the downturn thanks to relatively sound, though shaken, market fundamentals.
These are some of the key trends noted in Avison Young's 2010 National Forecast, released today. The annual report covers the Office, Industrial, Retail and Investment markets in 13 regions: Chicago, Washington, DC, Vancouver, Calgary, Edmonton, Regina, Winnipeg, Toronto, GTA West/Mississauga, Ottawa, Montreal, Quebec City and Halifax.
"If anyone needs to be reminded, commercial real estate is a cyclical industry," comments Mark E. Rose, Avison Young's Chair and CEO. "In our 2009 Forecast last January, we predicted one overriding theme - decision-making would grind to a halt until key metrics stabilized and new trends appeared. The dislocation in real estate lending and investing was so severe in March and April that the markets looked to be on the verge of collapse. Canada weathered the storm better than the U.S. and activity was down, but transactions were executed."
CHICAGO, Jan. 13 /PRNewswire/ - Recessionary headwinds took their toll on real estate markets on both sides of the border in 2009, with the U.S. continuing to shoulder the worst of the storm. Now several quarters into it, the Canadian real estate sector has not been entirely immune, but appears to be weathering the downturn thanks to relatively sound, though shaken, market fundamentals.
These are some of the key trends noted in Avison Young's 2010 National Forecast, released today. The annual report covers the Office, Industrial, Retail and Investment markets in 13 regions: Chicago, Washington, DC, Vancouver, Calgary, Edmonton, Regina, Winnipeg, Toronto, GTA West/Mississauga, Ottawa, Montreal, Quebec City and Halifax.
"If anyone needs to be reminded, commercial real estate is a cyclical industry," comments Mark E. Rose, Avison Young's Chair and CEO. "In our 2009 Forecast last January, we predicted one overriding theme - decision-making would grind to a halt until key metrics stabilized and new trends appeared. The dislocation in real estate lending and investing was so severe in March and April that the markets looked to be on the verge of collapse. Canada weathered the storm better than the U.S. and activity was down, but transactions were executed."
Monday, January 11, 2010
GTA housing market quickly shook off the recession
When you look at GTA housing prices and sales statistics, it's almost like there had never been a recession.
As 2009 wound down, homebuyers were partying like it was late 2007, which illustrates the V-shaped path the market followed when the recession started to bite in the fall of 2008.
The recession is generally considered to have started in October 2008. For that month, the Toronto Real Estate Board (TREB) reported that GTA sales were down 35 per cent over the same period in 2007.
Toronto average home prices were down 13 per cent over the same period in October 2007, while 905 homes prices declined about eight per cent.
As 2009 wound down, homebuyers were partying like it was late 2007, which illustrates the V-shaped path the market followed when the recession started to bite in the fall of 2008.
The recession is generally considered to have started in October 2008. For that month, the Toronto Real Estate Board (TREB) reported that GTA sales were down 35 per cent over the same period in 2007.
Toronto average home prices were down 13 per cent over the same period in October 2007, while 905 homes prices declined about eight per cent.
Subscribe to:
Posts (Atom)