Due diligence is a common term used during any online, live auction or sealed bid sale. It refers to a thorough review of the property and all documentation relevant to the property.
An auction company will provide you with information which the property owner has made available or which they have compiled through their efforts. It is then the buyers obligation to complete their investigation of the property and determine that all information is accurate and to your satisfaction prior to the auction or sealed bid due date. More >
Paul Mehlsen and Gavin Koyl of NAI Commercial-Regina arranged the sale of 111 Fairford Street, a 51,500 SF office building with 25,000SF of developable land in Saskatchewan. The transaction was valued at $7.2 million.
Peter Seed and Chris Wieser of NAI Commercial-Vancouver arranged the $3 million sale of Tabor Plaza, a 29,197 SF retail center on 2.39 acres in Prince George, British Columbia.
Our prediction for 2010 did come true. Some of the largest institutions were sellers. Transglobe and Boardwalk Equities were both sellers, although Cap REIT was a buyer. We saw demand stay strong as the multi-family sector is considered one of the few safe places to invest. Good product will be a rare commodity as most investors are long-term holders. We expect prices will stay flat with capitalization rates hovering around 5% unless rents go up dramatically, which we do not expect. We expect interest rates to remain stable around the 3.75% range for five year CMHC fund through to June 2011. Vacancy rates may rise slightly.
Please visit our website at www.naiapartments.ca for the full report.