Blockchain
R2 Capital Partners Acquires 13.2 Acres, 155,459 sq. ft. Retail Plaza
Calgary, Alberta–(Newsfile Corp. – January 17, 2022) – R2 Capital Partners Inc. (“R2”) announces the acquisition of 168 Rothesay Ave, Saint John, NB.
Figure 1: R2 CAPITAL PARTNERS ACQUIRES 13.2 ACRES, 155,459 SQ. FT. RETAIL PLAZA
The property spans 13.2 acres, consisting of a 155,459 sq. ft. retail anchored plaza. The tenants are a mix of publicly traded corporations, government, and national brands with a weighted average lease term (WALT) of 14.1 years, realizing a purchase capitalization rate of 8.8%.
R2 has realized forced appreciation in the property’s purchase value of approximately 35.2% based on a third-party as-stabilized appraisal. The significant percentage increase in property valuation is identified as a result of improving operational efficiencies, finalizing lease negotiations from key tenants, the favourable entry price of $12,500,000, and other value-add opportunities.
Further value-add opportunities which R2 will explore over the coming months include:
- Developing one or more Quick-Service Restaurants (QSRs).
- Renegotiation of under-market value lease rates.
- Leasing the remaining vacant space to a public corporation with a strong covenant and brand.
- Explore the potential for mixed-use, multi-family development with the abundant land area.
CORPORATE PROFILE
R2 Capital Partners Inc. is a privately held real estate investment firm offering investors and partners diversified exposure to residential and commercial real estate and utilizing a vast network of partnerships, relationships, and industry-leading technology to capitalize on emerging secondary and tertiary markets across North America.
R2 offers a full-service operating platform containing expertise in acquisitions, financing, property operations, renovations, accounting, risk management, market research, and other related support functions. Brock Rogerson and Spencer Riche lead R2 Capital Partners Inc., combining over 20 years of experience, jointly holding over $40 million in real estate assets, headquartered in Calgary, Alberta, with a second office in Winnipeg, Manitoba.
Media Contact
Company Name :- R2 Capital Partners Inc.
Email Id :- [email protected]
Company Website : https://www.r2capital.ca/
PR Contact
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110325
Blockchain
Alarum Announces Exciting Events Lineup and Welcomes Esteemed Advisor to NetNut’s Advisory Board
Blockchain
RevoluGROUP Canada Inc. Announces White Label Partnership with MONECO France
Blockchain
Australian Fintech Stables Launches International Remittances Between Australia and The Philippines
Pictured Left to Right: Erez Rachamim, Bernardo Bilotta and Daniel Li.
-
Blockchain Press Releases7 days ago
OpenStamp raises seed round led by Animoca Ventures and with participation from KuCoin Ventures and others
-
Blockchain Press Releases7 days ago
KuCoin Introduces GemVote: Empowering Community Voices in Token Listings
-
Blockchain Press Releases6 days ago
Bitcoin Halving Frenzy: Join Bybit’s Miner’s Point Plaza for a Shot at $1 Million and Witness History!
-
Blockchain6 days ago
New to The Street Announces Episode 564, Five Corporate Interviews, Airing on The Fox Business Network, Monday, March 25, 2024, at 10:30 PM PT
-
Blockchain6 days ago
Moondance Labs Announces $6 Million Funding to Boost Development of Tanssi Protocol
-
Blockchain Press Releases6 days ago
Bitget Unveils Proof of Reserves (POR) in March 2024: BTC & ETH Assets Surge by 20%
-
Blockchain Press Releases3 days ago
Bitget Wallet Partners with Over 40 Projects Including Avalanche, Taiko to Launch the BWB Ecosystem Partner Program
-
Blockchain Press Releases7 days ago
Bybit Card Now Earns Exclusive Toncoin Rewards in Latest Collaboration