Island Deal Shows New Direction
Mainland Chinese investors are starting to surprise industry observers when it comes to where they're placing their commercial real estate dollars in B.C. The Fox Island deal is further proof of that, JLL’s Mark Lester tells us. (You thought we were going to tell you they're throwing it out of hot air balloons at random?)
A few details of the transaction have just been released—the 46-acre island, off Sunshine Coast, sold for $2.4M. You need to fly 20 minutes by floatplane to get there.
Mark, who is the SVP of JLL’s specialized assets division, which concentrates on more unique commercial deals, says you never would have seen Mainland Chinese buy something like an island in the past, or recreational properties in general. (Maybe they found an old treasure map for the island and aren't telling anyone.)
