Real Estate

Botched home sale costs Winnipeg man his right to sell real estate in Manitoba

A Winnipeg man’s registration as a real estate salesman has been cancelled after a family vacated their home on a tight deadline for a sale that never went through, then changed brokerages and, months later, got $60,000 less for their house than what they expected when they moved out.

A Manitoba Securities Commission panel found Reginald Wayne Kehler engaged in professional misconduct and conduct unbecoming a registrant when he signed a document on behalf of sellers without their knowledge, reduced the listing price of a home without their approval, and didn’t tell them for nearly a month that a potential buyer hadn’t paid a promised $100,000 deposit.

The sellers, identified as D.R. and P.R. in the panel decision released Wednesday, were awarded $10,394 from the real estate reimbursement fund. Kehler was ordered to pay $12,075 to cover costs of the investigation and hearing.

The sellers were a military family

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Real Estate

Manitoba holds firm on declining Winnipeg call for inquiry into real estate, construction scandals

Manitoba’s PC government says it’s still too soon to call a public inquiry into the real-estate and construction scandals that plagued the City of Winnipeg more than a decade ago despite the resolution of a pair of city lawsuits over its police headquarters.

In 2013 and 2014, the final two years of former mayor Sam Katz’s time in office, a trio of external audits examined what went wrong with the commission of Winnipeg’s police headquarters, the construction of four new fire-paramedic stations and major real-estate transactions that included the sale of Canad Inns Stadium, the Parker land swap and the purchase of the former Canada Post complex in downtown Winnipeg.

The police headquarters project was also the subject of a five-year RCMP investigation that concluded without charges as well as civil litigation by the city against former city chief administrative officer Phil Sheegl and primary police-HQ contractor Caspian Construction.

In

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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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