Aristotle, a five-storey office and light industrial building in East Vancouver, sold for $37.5M, $12.5M above the assessment value. The development of this property sparked a shift towards revitalizing South Creek Flats, bringing light industrial projects to the forefront.
Ten interest rate increases in the past year and a half have led to a tightening credit environment. However, with tightened conditions, transactions can be still be completed if creative deal structures are employed. Doug Murray of Colliers Canada shares more about his experience in Southwestern Ontario.
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