Back to Blog
24 Nov

Two downtown Vancouver office buildings acquired for $57.5M


Posted by: Shahin Golestani

Two Class A office properties in Gastown and Yaletown have been purchased by Toronto-based Allied Properties Real Estate Investment Trust

Tanya Commisso Western Investor

November 7, 2018
Two Class A office buildings in downtown Vancouver have been acquired by a Toronto-based real estate manager and developer for $57.5 million.
Allied Properties Real Estate Investment Trust has entered into an agreement to purchase 151 West Hastings in Gastown and 1220 Homer Street in Yaletown.
The West Hastings property includes 38,511 square feet of gross leasable area, currently leased to co-work company Spaces until 2033. The Homer Street property is comprised of 21,708 square feet, fully leased to Perkins + Will Canada Architects until 2023.
“We’re increasing our penetration in urban Vancouver just as [Allied] is transitioning to a primary Canadian office market,” said Michael Emory, president and CEO for Allied Real Estate.
Yaletown sale has already closed, while the Gastown sale is expected to close on November 30.


Thinking about buying a business, expanding your existing business, buying a land or property acquisition? Contact me and get a second opinion on your financing options for BUSINESS ACQUISITION & COMMERCIAL LOANS | EQUIPMENT LEASING | COMMERCIAL LINE OF CREDIT | CONSTRUCTION & LAND ACQUISITION, INFRASTRUCTURE & INDUSTRIAL LOANS |


We help individuals and companies with borrowing needs between $500,000 and $200 million. We specialize in: Term loans, Operating loans, Construction loans, Lease financing.

From $1 Million to over $200 Million COMMERCIAL LOANS, FINANCE & REFINANCE for Major INDUSTRIES:
Construction | Commercial Real Estate | Infrastructure | Mining & Metals | Petroleum, Oil & Energy | Cannabis | Pharmaceutical | Telecommunication | Hospitality, Hotel, Motel, RV Park & Camping Sites) | Hospital & Health Care | Farming & Agriculture | Civil Engineering | Mechanical or Industrial Engineering | Electrical Power | Education | Transportation, Trucking, Railroad | Warehousing , and more.

New Purchase, Merger & Acquisition | Refinancing & New Financing | Equipment Leasing & Finance |
Commercial Buildings | Hotels and Motels | Offices and Medical Buildings
Plazas and Shopping Centers | Multi-Family Residential | Subdivision Servicing |
Industrial Buildings | Condominium Conversion Projects | New Residential
Condominium Construction Builder Inventory loans |Seniors Housing | Long Term Care Facilities | Development Lands | Apartment Buildings

Large Construction, Development & Land Loans |
Condominium Construction Loans for low, mid and high-rise |
Single Family and Townhome Projects Loans |
Construction of Single or Multi-Tenant, Commercial Buildings such as Retail, Industrial, Office, Storage, Hotel,Multi Unit Residential |
Commercial Mortgages on Investment Properties |
Subdivision Servicing |
Condominium Conversion Projects |
Condominium Construction Builder Inventory loans |
Development Lands |

Self Employed Solutions
Second Mortgage | Home Equity Line of Credit
Mortgage for New Canadian Immigrants (Newcomers) or Non-Residents
Debt Consolidation