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Found 4 results

  1. du NationalPost Nobody is selling real estate and few are buying it, so how do you value it? The question dominated a panelist discussion that included the leaders of some of the largest real estate companies in the world. The consensus at the 14th annual North American Real Estate Equities conference, put on by CIBC World Markets, is the Canadian market will see little activity in 2009. Pinned down on what Toronto's Scotia Plaza might fetch in today's market, Andrea Stephen, executive vice-president of Cadillac Fairview Corp., said she couldn't answer. "It is difficult because there is a small pool of buyers," said Ms. Stephen who passed the question on to Tom Farley, chief executive of Brookfield Properties Corp. which is now building the Bay-Adelaide Centre, the first new office tower in Toronto's financial core in 15 years. Mr. Farley noted only three major assets have traded in the past seven years, the last being the TD Canada Trust Tower in Toronto. That was sold at $723/square foot, he said. Ms. Stephen said that figure might be "little rich" in today's market, but said it's hard to establish a real price. When Cadillac, which is owned by the Ontario Teachers Pension Plan Board, bought the Toronto-Dominion Bank's office tower assets the price was about $300 a square foot but that was eight years ago. There is no real pressure on any of the major owners of Canada's office towers to sell, so the type of fire sales that have been seen in the United States are less likely. "You have eight entities that control 90% [of the major towers]. It's ourselves and seven pension funds," said Mr. Farley. "We can weather the storm." Not everyone on the panel was as confident about the Canadian market. David Henry, president of retail landlord Kimco Realty Corp. which is based in the United States but has some holdings in Canada, said rental rates are "falling of the cliff." He did note the company's Canadian portfolio is holding up better than its U.S. holdings. He said there will be merger opportunities as prices continue to fall. Mr. Henry, said capitalization rates have been rising with alarming speed. The cap rate is the expected rate of return on a property, the higher the cap rate the less a property is worth. "We saw cap rates go from 6 to 8.5 in the United States. It may not go as high [in Canada] but it could go to 8," he said, referring to the retail sector. Dori Segal, the chief executive of First Capital Realty Corp., said he still hasn't seen the buying opportunities. "There is not a single grocery anchored shopping centre for sale in Toronto, Montreal, Vancouver, Calgary or even Victoria for that matter," said Mr. Segal.
  2. 2012 Global Cities Index and Emerging Cities Outlook New York, London, Paris, and Tokyo remain today's leading cities, but an analysis of key trends in emerging cities suggests that Beijing and Shanghai may rival them in 10 to 20 years. http://www.atkearney.com/index.php/Publications/2012-global-cities-index-and-emerging-cities-outlook.html
  3. Hey folks ...The Donald will be in Montreal for seminars next week. Monday at the Complexe Desjardins -Hyatt, Tuesday at Chateau Vaudreuil, Wednesday at the new PET Marriott and Thursday at the Sheraton Laval....and Friday at a press conference to annouce a Trump Tower for downtown Montreal!! ...... Just kidding!!....The 4 days of seminars are true... you can check out the ad in today's Gazette..... But let's dream ...if only ...A 60 Storey Trump Tower for Montreal hmmmm Anyways dreaming doen't cost anything.. :begging::begging:
  4. So we lose another head office. Medtronic buying CryoCath 9/25/2008 9:25:48 AM Comments (0) Post-Bulletin and news service reports Medtronic Inc. is paying about $400 million to buy a Canadian medical device company that has worked with Mayo Clinic. This morning, Minneapolis-based medical device maker Medtronic announced that it is buying Montreal-based CryoCath Technologies Inc. CryoCath has accepted the offer of $8.75 per share, about $380 million total. CyroCath makes a heart catheter used to treat atrial fibulation. Mayo Clinic participated in a clinical study, along with Massachusetts General Hospital in Boston, of CryoCath's Arctic Front catheter. Dr. Douglas Packer of Mayo Clinic presented the results of the study at the Annual International Boston Atrial Fibrillation Symposium in 2006. In today's announcement, Medtronic explained why it is interested in CyroCath. "Medtronic estimates that up to five million patients worldwide are impacted by atrial fibrillation," said Pat Mackin of Medtronic. "Medtronic and physicians are interested in procedures that are safer, faster and less complex so that more patients can benefit from treatment."