Bayfield Realty Advisors Announces Acquisition of a 100% Interest of Southview Centre
March 13, 2017
TORONTO, ONTARIO – (Marketwired – March 13, 2017) – Harold Spring, President and CEO of Bayfield Realty Advisors Inc. is pleased to announce the acquisition of a 100% interest in the Southview Centre in Medicine Hat, Alberta for a gross purchase price of $28.1 million
The property comprises a single-storey open-format 165,142 s.f. retail centre anchored by London Drugs, Winners, Michael’s, The Brick and Giant Tiger and two pad sites occupied by TD Canada Trust and Tim Hortons. McCOR Management will manage and lease the property and Bayfield will act as asset manager.
Bayfield Realty Advisors Inc. announces the acquisition of the remaining 50% interest in The Shops of Pickering Ridge and adjacent development lands
April 5, 2016
TORONTO, ON – (Marketwired – April 05, 2016) – Harold Spring, President and CEO of Bayfield Realty Advisors Inc. is pleased to announce the acquisition of the remaining 50% interest in The Shops of Pickering Ridge and adjacent development lands owned by a public fund administered by Sunstone Realty Advisors for the price of $30.75 million. The properties are located in the City of Pickering in the Province of Ontario and comprise a modernized open format 280,000 SF shopping centre and approximately 9 acres of vacant land adjacent to the shopping centre held for commercial and/or residential development.
The Shopping Centre has been the subject of a massive redevelopment and re-tenanting programme from mid-2013 to date and approximately $7.7 million has been spent in relation to this programme. The property sits at the northeast corner of Brock Road and Hwy 401. Brock Road is the main Pickering on/off ramp with respect to Hwy 401. The property has approximately 2,000 feet of frontage on Hwy 401.
Bayfield Realty Advisors Announces Acquisition of a 100% Interest in an 8 property portfolio
February 1, 2016
TORONTO, ONTARIO – (Marketwired – Feb 1, 2016) – Harold Spring, President and CEO of Bayfield Realty Advisors Inc. is pleased to announce the acquisition of a 100% interest in a 51,386 sf 8 property portfolio, comprised of 10 free-standing retail pads in Ontario and Québec for a total price of $15,230,000. The Portfolio is 100% leased and features a weighted average lease term (“WALT”) of more than 5 years. 99% of the Portfolio is leased by national, publicly-traded covenant tenants (Shoppers Drug Mart, Tim Hortons, Harvey’s, Pizza Hut, Scores, Madisons and Carquest). The Portfolio’s tenancy profile comprises three strong retail sectors – food, automotive and pharmacy. COGIR will manage and lease the propertiesand Bayfield will act as asset manager.
Bayfield Realty Advisors Announces Acquisition of a 70% Interest of Confederation Mall
October 27, 2014
TORONTO, ONTARIO–(Marketwired – Oct 27, 2014) – Harold Spring, President and CEO of Bayfield Realty Advisors Inc., is pleased to announce the acquisition of a 70% interest in the Confederation Mall Shopping Centre in Saskatoon, Saskatchewan for a gross purchase price of $33.6 million.
The acquisition will permit Bayfield to complete the balance of its redevelopment program with respect to the shopping centre which is expected to cost approximately $6 million. Confederation Mall is a 330,000 SF Tier 2 regional mall anchored by 3 brand new stores – a 130,000 SF Canadian Tire and Mark’s, a 50,000 SF Safeway supermarket and a 25,000 SF Winners. Additional renovations will include a new and expanded food court, new washrooms, storefronts, entrances and improvements to the exterior, common areas and facilities.
Bayfield Realty Advisors Announces Acquisition of Carrefour Pelletier
June 13, 2014
Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield), today announced that Bayfield has completed the acquisition of a 79,530 sf single storey food and drug anchored strip centre in Brossard (South Shore, Montreal), Quebec for $14,500,000. The property, located on Taschereau Boulevard, which is the major commercial artery in the area, is anchored by Marché C & T, Shoppers Drug Mart (Pharmaprix) and Banque Nationale. COGIR will manage and lease the shopping centre and Bayfield will act as asset manager.
Bayfield growing with retail in better secondary markets
October 23, 2013
Bayfield REIT has a nice ring to it – except that it never happened. Last year, Toronto’s Bayfield Realty Advisors Inc. looked at turning itself into a REIT and ultimately decided against the move.“I didn’t feel good about the market, so we didn’t,” Harold Spring, Bayfield’s president and CEO, said in a phone interview. “We thought the market just might not be as good when we came to market and we didn’t want to take the risk.”
As it turns out, it was a good move. The REITs have lost about 30 per cent in their value over the course of the year.
It’s the sort of prescient management that has helped turned the acquisition, asset management and development firm into a player in the retail market in the last eight years.
Bayfield Realty Advisors Announces Acquisition of Alberni Mall
October 17, 2013
TORONTO, ONTARIO–(Marketwired – Oct 1, 2013)- Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield), today announced that it has completed the acquisition of a 155,442 sf single storey open format community shopping centre in Port Alberni, British Columbia for $22,800,000. The property, located within the Alberni-Clayoquot Regional District, is anchored by Canadian Tire/Mark’s Work Wearhouse, Dollar Tree and Boston Pizza, and was newly redeveloped in 2012 to include Home Hardware, the Brick, Aaron’s Furniture and Paws & Claws. The property is strategically located within the dominant retail node of Port Alberni, at the convergence of Highway 4 and Cherry Creek Road. Canreal Management Corporation will manage the shopping centre and Bayfield will act as asset and leasing manager.
Bayfield Realty Advisors Announce Sale of 110 Yonge Street
October 1, 2013
TORONTO, ONTARIO–(Marketwired – Oct 1, 2013)- Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield), today announced that Bayfield has sold its 50% interest in 110 Yonge Street, The Canada Trust Building, a 150,323 square foot office building within Toronto’s downtown financial core, at the southwest corner of Yonge and Adelaide Streets. The 50% interest in the building was purchased in July of 2009 for $21,250,000 and was sold for more than $30,000,000. The property was sold to take advantage of historically low capitalization rates and strong demand for core financial office properties.
Bayfield Realty Advisors Announce Acquisition of Galeries des Sources
December 1, 2012
TORONTO, ONTARIO–(Marketwired – Jan 7, 2013)- Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield) today announced that it has completed the acquisition of a 361,440 sf single storey enclosed regional shopping centre in Dollard-des-Ormeaux, Quebec for $53,500,000. The property, located approximately 15 km from downtown Montreal, is anchored by Canadian Tire, Winners, Staples, and Super C (Metro), and contains a 5,770 sf freestanding pad (SAQ-Government Liquor Store). The property is located at the convergence of two of Montreal’s busiest thoroughfares, Des Sources Boulevard and Autoroute 40 (Trans-Canada). Cogir will manage and lease the shopping centre and Bayfield will act as asset manager.
Bayfield’s commercial and retail portfolio now totals in excess of 4 million square feet in major Canadian markets with an approximate market value of $600 million dollars.
Bayfield Realty Advisors Announce Sale of Place des Quatre-Bourgeois
June 1, 2012
TORONTO, ONTARIO – Mr. Harold Spring, President and CEO of Bayfield Realty Advisors Inc. (Bayfield) today announced that it has sold Place des Quatre-Bourgeois,a 245,000 square foot grocery anchored enclosed shopping centre located in Quebec City, Quebec for $32,025,000. The centre was 100% leased and national tenants of the centre included IGA (Sobeys), Winners, Hart Stores, Dollarama and Jean Coutu. The centre was purchased in 2008 for $24,415,000 and provided an excellent safe and consistent return on investment during Bayfield’s 4 year period of ownership. The property was sold on the basis of Bayfield’s belief that the property’s ability to generate increased returns had been substantially realized, and to take advantage of the current high demand and pricing of retail assets in the real estate market place.
