Even as the stock market soars into record territory, real estate investment trusts (REITs) are shooting past it. U.S. REIT returns were more than three times those of the broader equity market in April, according to a new report from NAREIT, the REIT industry association. REITs have also outperformed the market in the first four months of this year.
Read more: http://www.cnbc.com/id/100734766
Canadian Tire Corp. Ltd. announced Thursday that it will create a $3.5-billion real estate investment trust to unlock the value of its property holdings, with an initial public offering expected later this year.
The move follows on the heels of a similar plan by grocer Loblaw Companies Ltd.
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EDMONTON – Investors have been piling into REITs (real estate investment trusts) since the recession ended.
Over the past four years, the S&P/TSX Capped REIT Index has soared by roughly 155 per cent, well over double the 63 per cent gain racked up by Toronto’s main equity benchmark.
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The emergence of opportunities for Canadian retail investors to acquire an interest in real estate assets continues, seemingly unabated.
Initially those opportunities were largely confined to assets based north of the 49th parallel, a case of domestic assets being packaged up for domestic investors.
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CALGARY — Allied Properties Real Estate Investment Trust is continuing its expansion into the Calgary real estate market by purchasing two office buildings in the city’s Beltline district.
Toronto-based Allied says it is buying the Vintage I and II property for $110 million, funded from issuing 3.2 million units to a syndicate of underwriters led by Scotiabank.
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CALGARY — Calgary-based Boardwalk Real Estate Investment Trust said Thursday it is continuing to explore “viable” development opportunities for multi-family apartment buildings on excess land it owns in Alberta and Saskatchewan.
That includes a couple of properties in Calgary located near the LRT line.
Boardwalk said the demand for multi-family investment properties in Canada continues to be strong.
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TORONTO — Primaris Retail REIT said Friday it is buying a portfolio of shopping centres in Edmonton and Medicine Hat for $377 million.
The real estate investment trust says it will acquire nine properties owned by Sherwood Park Mall Ltd., Markalta Developments Ltd. and Sleeping Bay Building Corp.
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Three years ago Aaron Edelheit was working out of his living room, buying foreclosed properties, and putting them up for rent. Today he is CEO of The American Home Real Estate Investment Trust, one of the first REITs investing only in single family rental homes.
“We think the foreclosure crisis has allowed a couple of firms such as ours to get size and scale to start institutionalizing a very large market,” said Edelheit.
Read more: http://www.cnbc.com/id/100366417
Hudson’s Bay Co., whose third-quarter loss widened, will consider spinning off its valuable real estate into a real estate investment trust, borrowing a page from the playbook of grocery giant Loblaw Cos. Ltd.
“We’ve always believed that some time in the future we could have the opportunity … to create a REIT, similar to what Loblaw is proposing,” Richard Baker, the U.S. real estate magnate who controls HBC and is its governor (chairman) and chief executive officer, told an analysts’ conference call on Tuesday morning.
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The best year on record for Canadian publicly-traded real estate just keeps getting better, driven by an insatiable demand from investors for a decent return.
The capital markets had raised a total of $8.208-billion in announced deals as of Thursday , including $5-billion in equity, according to CIBC World Markets Inc. That total dollar amount smashed through the $6.255-billion raised in 2011 which was a record.
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