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Home Sweet Residence And an Energetic Lifestyle After Retirement

Home Sweet Residence And an Energetic Lifestyle After RetirementLearn the most recent news about residential and industrial actual estate within the Seattle space and Pacific Northwest in

Real Estate

UBS Buys Credit Suisse And Creates A Real Estate Giant. Does A Credit Crunch Still Loom?

UBS has bought fellow banking giant Credit Suisse in a deal that will create a bank with an $80B commercial real estate loan book and more than $100B of real estate assets under management — making it the fourth-largest CRE lender in the world — but the key element of the deal for CRE is whether it can stop liquidity drying up in the banking system.

UBS’ headquarters in Zurich

UBS announced on Sunday that it had agreed a deal to rescue Credit Suisse and would pay about $3.25B for its Swiss rival. Swiss financial regulators changed the law so that shareholders do not have to approve the deal, such was the need to get a speedy transaction completed.

“This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue,” UBS Chairman Colm Kelleher said in a

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Stratas shifting to 55+ presents 'massive loophole' in Property Act, Duncan condo owner says

A condo owner in Duncan says her strata opting to go 55+ will significantly impact not only her finances, but her personal life — prompting her to ask British Columbia’s premier to fix a “massive loophole” in recent changes to housing legislation.

Brianne Pascoe, 30, purchased her unit last June. When she moved into the building it was 19+, but since then the government has made significant changes to the Strata Property Act with Bill 44 — including what some are calling a loophole upending the lives of buyers and renters.

That’s because Pascoe’s strata voted to restrict anyone under 55 from moving into the building, something other strata councils around the province have been doing ever since the changes came into effect last November.

The new laws aim to increase B.C.’s housing stock to help solve the province’s rental shortage, with changes to the Act scrapping rental restrictions, including

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Real Estate

Neighbourly Completes Divestiture of 18 Real Estate Properties in Manitoba and Saskatchewan

– Cash proceeds to be allocated to near term pharmacy acquisitions –

TORONTO, March 20, 2023 /CNW/ – Neighbourly Pharmacy Inc. (TSX: NBLY) (“Neighbourly” or the “Company“), Canada’s largest and fastest growing network of independent pharmacies, is pleased to announce that the Company has completed the planned divestiture of 18 real estate properties which had been acquired as part of the Rubicon acquisition.

The net proceeds of approximately $12 million will be allocated to the continuing execution of Neighbourly’s M&A strategy.

“Divesting non-core real estate properties in order to redeploy cash proceeds towards funding our future acquisitions is a top priority in our capital allocation approach. With a robust pipeline of acquisition opportunities, we remain focused on continuing to execute on this key driver of our future growth,” stated Skip Bourdo, Neighbourly’s Chief Executive Officer.

Neighbourly estimates that the sale and subsequent leaseback

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Real Estate

Ninepoint Partners Announces Launch of Nuveen-Ninepoint Global Real Estate Fund LP

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Not for distribution to U.S. newswire services or for dissemination in the United States.

TORONTO, March 20, 2023 (GLOBE NEWSWIRE) — Ninepoint Partners, one of Canada’s leading alternatives asset managers, is pleased to announce the launch of Nuveen-Ninepoint Global Real Estate Fund LP (“the Fund”), Ninepoint’s new private real estate offering for Canadian institutional investors. This multi-strategy fund will invest in established real estate mandates managed by Nuveen across the industrial, multifamily, retail, workplace, and alternatives sectors.

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Condo developers can pre-sell before building permits in place

BC Superintendent of Real Estate policy change, which also allows strata pre-sales before financing is committed, came into effect on March 8, 2023

The BC Financial Services Authority (“BCFSA”) has issued a notice to its stakeholders, including developers, advising that the Superintendent of Real Estate’s Policy Statements 5 and 6 have been amended, effective March 8, 2023.

Together, Policy Statements 5 and 6 allow developers to engage in the early marketing of development projects before obtaining a building permit (Policy Statement 5) and a satisfactory financing commitment (Policy Statement 6), provided certain requirements are met.

The amendments to Policy Statements 5 and 6 are intended to create clear and consistent guidelines governing early marketing requirements in British Columbia.

Policy Statement 5 provides that a developer may engage in the early marketing of a development project even though it has not yet obtained certain approvals for its project, including a building

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