jje1000
Senior Member
Quebec still has a say in this. If they don't see the benefits of this merger, I doubt they will allow the merger to go ahead.
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CB Richard Ellis: 1Q'11 Toronto Office Market Report
- Thread starter Edward Skira
- Start date
TrickyRicky
Senior Member
^That's why the deal-makers emphasized the benefits to Montreal and to a lesser extent Calgary when hyping the deal. Clearly they know how to play the Canadian system.
Automation Gallery
Superstar
Here is the thread on the TSX-LSE merger...............http://urbantoronto.ca/showthread.php?15879-Toronto-and-London-Stock-Exchanges-to-merge
Automation Gallery
Superstar
Interesting, cause i always thought that building at 415 Yonge st. was butt ugly and could be demolished one day to make way for a bigger development at Yonge and Gerrard.
ARTIS or the "REIT" ANNOUNCES $242.3 MILLION OF NEW ACQUISITIONS AND COMPLETES $60.3 MILLION OF PREVIOUSLY ANNOUNCED ACQUISITIONS
The 415 Yonge Street property is a 191,880 square foot 19-storey office building located in Toronto's Downtown North office node in close proximity to the University of Toronto, College Park and the Subway station, which provides easy access to local amenities. The building is 98.6% leased to an attractive mix of national, regional and government tenants, including Ryerson University and the Ministry of Health. 415 Yonge Street has a BOMA Best Level 3 Certification, as well as 133 underground parking stalls. The purchase price of $49.7 million, representing a going-in capitalization rate of 7.0% and a purchase price per square foot of $259, is expected to be financed with cash on hand and from the proceeds of a new $35.0 million 10-year mortgage bearing interest at a rate anticipated to be approximately 4.79% per annum based on today's bond rates. The acquisition is anticipated to close on or about June 28, 2011.
http://www.newswire.ca/en/releases/archive/May2011/18/c5880.html
ARTIS or the "REIT" ANNOUNCES $242.3 MILLION OF NEW ACQUISITIONS AND COMPLETES $60.3 MILLION OF PREVIOUSLY ANNOUNCED ACQUISITIONS
The 415 Yonge Street property is a 191,880 square foot 19-storey office building located in Toronto's Downtown North office node in close proximity to the University of Toronto, College Park and the Subway station, which provides easy access to local amenities. The building is 98.6% leased to an attractive mix of national, regional and government tenants, including Ryerson University and the Ministry of Health. 415 Yonge Street has a BOMA Best Level 3 Certification, as well as 133 underground parking stalls. The purchase price of $49.7 million, representing a going-in capitalization rate of 7.0% and a purchase price per square foot of $259, is expected to be financed with cash on hand and from the proceeds of a new $35.0 million 10-year mortgage bearing interest at a rate anticipated to be approximately 4.79% per annum based on today's bond rates. The acquisition is anticipated to close on or about June 28, 2011.
http://www.newswire.ca/en/releases/archive/May2011/18/c5880.html
taal
Senior Member
Why do you think this will lead to any development whatsoever, not that I disgaree with you in regards to its uglyness ... but these sort of aquisitions happen quite often.
Automation Gallery
Superstar
I agree taal, its just when your down there and see whats going on with the Aura site and look around your imagination tends to wonder..i know, it just wont happen.
adma
Superstar
Re 415 Yonge: whatever its aesthetic merits, it may be prove more prudent to retain, I suppose...
taal
Senior Member
I agree taal, its just when your down there and see whats going on with the Aura site and look around your imagination tends to wonder..i know, it just wont happen.
Oh you meant it that was, ignore my comment I absolutely agree
It may, but more likely then not many many years from now.