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[Downtown Victoria] View Towers | 19-storeys | Built in 1960's

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#321 UDeMan

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Posted Yesterday, 02:18 PM

if you watch BNN, all the REITS are on the hunt for rental units.

 

It's possible that View Towers is in the process of being sold.  It would be a bonus for the REIT if the units are empty.  Many of them have business models that buy up older units, fix them up and increase rents.

 

The REIT might even prefer if the building is half empty, it allows them to renovate faster and increase rents faster.

 

Take a look at Canadian Apartment Reit.  over 30,000 units across Canada.  Always have to add new units to increase growth.


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#322 VicHockeyFan

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Posted Yesterday, 02:29 PM

^ Interesting take...



#323 Mike K.

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Posted Yesterday, 03:20 PM

There are REIT's actively looking for concrete rental properties in Victoria, willing to pay top-dollar. View Towers, however, is not for sale. The owners are not known for shedding property.


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#324 VicHockeyFan

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Posted Yesterday, 03:23 PM

There are REIT's actively looking for concrete rental properties in Victoria, willing to pay top-dollar. View Towers, however, is not for sale. The owners are not known for shedding property.

 

 

Everything is for sale at the right price.


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#325 Mike K.

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Posted Yesterday, 03:26 PM

Yup, who knows. They've got a prime piece of land adjacent to the building, too.


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#326 shoeflack

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Posted Yesterday, 03:27 PM

Everything is for sale at the right price.

 

It's true. Baptist Housing was toting the staunch "Central Care Home is not for sale" line right up until they sold it.


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