A deal that’s poised to be Vancouver's largest office transaction of the year has closed for an estimated $300 million.
“This transaction marks the beginning of the next cycle of office investment in Canada,” CBRE Canada president and CEO Jon Ramscar said in a May 22 statement. “It highlights the resilience of the Vancouver office market and provides a market-leading data point.” While bound by confidentiality agreements, Quattrin acknowledged that initial reports of the deal’s value were “not very far off.”Deka’s investment signals the return of international interest to Vancouver’s real estate market, CBRE said in a statement announcing the deal.
“Interest rates had risen and cap rates and decompressed and everyone as trying to find out where the market for office was,” he said.
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