Peter Mitham

2 weeks ago | westerninvestor.com | Peter Mitham

A well-known developer and hotel operator is the buyer of Westfield Business Centre in Surrey. A deal for the long-vacant business centre at 14178 104 Avenue, Surrey, closed May 20 following court approval earlier this year. A numbered company, 1262066 BC Ltd., acquired the 274,285-square-foot structure and a 3.7-acre parcel at 14019 104 Avenue, for $56.5 million. Registration documents identify the sole director of the numbered company as Sukhminder (Sukhi) Rai, head of RBI Group of Companies.

2 weeks ago | westerninvestor.com | Peter Mitham

A host of major infrastructure projects are driving the future of southern Saskatchewan forward, and that’s good news for PTI Transformers Inc. of Regina. The 36-year-old company broke ground last month on a project designed to double the size of its existing facility in Regina, giving it the capacity needed to handle the larger transformers demanded by energy projects across Western Canada.

3 weeks ago | westerninvestor.com | Peter Mitham

A pull-back in condo sales is a short-term issue for Vancouver’s under-supplied residential market, according to Grosvenor Canada Ltd., which broke ground last month on a massive new project in Burnaby’s Brentwood neighbourhood. The first phase of Brentwood Block, opposite Shape Properties’ Amazing Brentwood, will eventually have 3,500 homes as well as a community centre and 200,000 square feet of commercial space.

3 weeks ago | westerninvestor.com | Peter Mitham

Canada’s mortgages in arrears rate is low compared to other advanced economies, the Canadian Bankers Association reported with the release of March mortgage data on May 30. “Canadians are ... careful borrowers and this is evident when looking at national mortgage delinquency rates in Canada that show that more than 99 per cent of mortgage holders in Canada are in good standing,” the association reported.

1 month ago | westerninvestor.com | Peter Mitham

Henday Centre, a neighbourhood retail centre in Innisfail, Alberta, with 78,233 square feet of leaseable space, sold to local investor Brookstone Investment Corp. on March 31 for $11.25 million. Occupancy averages 95 per cent, with key tenants IDA Pharmacy and Dollarama ensuring stable, long-term cash flow for Brookstone, whose portfolio of commercial assets now totals $50 million.