Canada Life concerned about contract: Avista

Article Abstract:

Canada Life Assurance Co does not favor Canadian Real Estate Investment Trust (CREIT) as merger partner of Avista, a real estate investment trust partly owned by Canada Life. This is because a CREIT-Avista merger would mean a loss to Canada Life, whose subsidiary Adason Properties Ltd earns $5b million annually for providing advisory and management services to avista. Canada Life, which owns a 16% equity stake at Avista, instead supports the merger bid of Summit.

Direct Life Insurance Carriers, Parent-to-subsidiary activities, Life Insurance, Canada Life Assurance Co.

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CHIP brings property management in-house

Article Abstract:

Canadian Hotel Income Properties Real Estate Investment Trust is bringing its property management in-house as it purchases the management contracts of its hotels from O'Neill Hotels & Resorts Ltd. The C$26.8 million cash and paper acquisition deal will bring 40 O'Neill Hotels executives and employees under the fold of the REIT. With the deal, the company will also stop paying advisory or management fees to another party.

Strategy & planning, Real Estate Investment Trusts, Real Estate Invest Trusts, Canadian Hotel Income Properties Real Estate Investment Trust

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