Strong Canadian real estate performance continues Canadian commercial real estate delivered another strong performance in 2012, as measured by the REAL- pac /IPD Canada Annual Property Index. The annual total return of 14.1 per cent continued Canada’s strong performance. Real estate outperformed public equities (7.5%), bonds (3.0%) and inflation (0.8%). (Equities are based on the . Total annual returns for the three years, five years, and ten years ending December, 2012 remain robust at 13.6%, 8.7% and 11.7% respectively. Examining the four major property sectors, residential registered the only increase in total return in 2012 (16.2%, up from 11.9% in 2011). Total returns for office properties, which spiked between 2010 and 2011, pulled back only slightly in 2012 to 15.9% while industrial and retail produced lower total returns in 2012 (11.8% and 13.5% respectively) compared to 2011. Overall, the six largest commercial property markets generated healthy total returns in 2012. Of the six largest markets, Edmonton was the only metro that saw accel- erating growth in value. Calgary, Toronto, Montreal, Van- couver and Ottawa all produced healthy but lower returns in 2012 compared to 2011. PLAN YOUR STAY EARLY Book 7 days ahead and get 15% savings! Toronto developer confirms interest in purchasing Ottawa Constuction Association property Toronto-based Lamb Development Corp (LDC). has confirmed its interest in purchasing the Ottawa Con- struction Association (OCA)’s headquarters building and land by paying a substantial deposit to hold its $4.6 mil- lion offer the association’s downtown office and site. OCA president John DeVries said Lamb has commit- ted to a “deposit in the six figures” to hold the property for further due diligence, for seven months. He declined to specify the deposit’s exact amount, other than con- firming it is in the six figures (that would be greater than $100,000 and less than $1 million.) LDC’s website says the company was established in 2001 by condo broker Brad J. Lamb “to directly partici- pate in the development of stylish, urban condominium projects. At that time, with over 13 years of experience in consulting, marketing, and the selling of over 80 of Toronto’s most innovative and exciting projects, Mr. Lamb wanted to bring something different to the devel- opment world. DeVries said the association decided to put its build- ing and land on the market in late 2012 because the property, as currently configured, no longer really meets the association’s requirements. “Very few people actu- ally visit the plans room these days, and the training fa- cilities in the basement are inadequate for our needs,” he said. OUR MISSION: To facilitate the success of women in the Canadian construction industry by uniting our voices, knowledge and resources through the passion of our members and the women we inspire. www.cawic.ca The Canadian Design and Construction Report — Spring 2013 – 11