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  • Vendu
Western Canada 4-Branch Portfolio - #1
Western Canada 4-Branch Portfolio - #2
Western Canada 4-Branch Portfolio - #3
Western Canada 4-Branch Portfolio - #4
The Bank of Nova Scotia (“Scotiabank” or the “Vendor”) has retained Colliers International (the “Advisor”) on an exclusive basis to offer for sale a four (4) asset retail Portfolio (the “Properties” or “Portfolio”) located within British Columbia and Alberta. The Portfolio of core bank branches consists of 62,554 square feet of total net rentable area (including 3,736 SF leased to a third party and 9,500 SF of vacant space) for which Scotiabank (49,318 SF total) has committed to a minimum of a 10-year sale-leaseback.

The Portfolio is well located within major commercial and retail nodes in Chilliwack, Kamloops, Calgary and Edmonton. Year 1 Net Operating Income for the Portfolio is approximately $1.1 million, with a 10% rental escalation in year 6. The British Columbia portion of the Portfolio consists of two (2) assets, or 29,630 square feet, and represents 34% of the year 1 NOI, while the Alberta Portfolio offers two (2) assets, or 32,924 square feet, and represents 66% of the year 1 NOI.

The sale of the properties will be considered on an individual, clustered and Portfolio basis. It is the Vendor’s preference that offers be received with no or limited conditions, and will be evaluated on that basis. Prospective financing terms through Scotiabank will be provided.
  • 06-07-2018
  • Deal closed 2018