TORONTO: Biggest Talk of Bay Street
That would be the reported but yet-to-be confirmed $500M sale of Bayview Village. Not so much about what it is—a 440k SF upscale shopping mall in North York—but what it represents: that despite some naysaying (they have that in Canada?) and pessimism in the market, prices and demand for good, urban real estate in the Greater Toronto Area in fact remain strong. Also, a shrinking domestic market that helped command such a high price is partly driving so many pension funds and REITS into foreign markets for investment opportunities.