Choice Properties REIT Splurges On Investment Opportunity
42 sec read
Choice Properties REIT is ending off 2020 with a bang, after investing in multiple industrial and retail properties. The price to pay was far from minuscule and totalled a whopping $675 million.
The deal involved disposing of existing assets and acquiring new ones to suit the companies business needs better. The portfolio included four significant investments that span multiple commercial real estate wavelengths, some of them being right here in Toronto.
Choice is one of Canada’s largest REITs, with a portfolio comprised of 724 properties across the industrial, office and retail real estate space.
Rael Diamond, the president and CEO of Choice, stated, “We are pleased with our financial results for the quarter, which reflect solid earnings, increased rent collections, lower bad debt expense and the resumption of investment activity after a difficult second quarter.”
Learn more about the $675 million deal.
About Royal LePage Commercial Westhaven
Our commercial real estate industry and segment expertise coupled with Royal LePage’s national platform and integrated systems provides best-in-class real estate strategies and a competitive advantage that can’t be beat.
We help businesses identify opportunities and maximize their return on investment with actionable goals, centralized support services and a strong commitment to customer success. Our national partnerships help us establish, guide and execute successful business investments.
We offer commercial real estate agents a professional environment, focused 100% on commercial real estate. Agents can expect unlimited market boundaries to build their business without the interference of a heavy corporate structure. In addition, agents will be able to access Royal LePage’s national referral network of over 18,000 agents to develop more business in their target markets with incoming leads generated daily. The brokerage provides agents a suite of services including marketing, promotional, networking and professional development needs.
Innovation and service excellence have developed and propelled the Royal LePage brand since 1913. When you join Royal LePage Commercial Westhaven brokerage, you have the backing of one of the most powerful commercial real estate services company in Canada—Bridgemarq Real Estate Services Inc. (formally Brookfield Real Estate Services Inc.). Bridgemarq is a leading provider of services to real estate brokers and agents. They are an affiliate of Brookfield Business Partners, a business services and industrials company focused on owning and operating high-quality businesses and is listed on the New York and Toronto stock exchanges.