Landa to Acquire Burnaby Condo Development Project Via Court Sale

Landa Global has acquired a partially constructed condo development project in Burnaby, B.C., through a court sale for $12 million. The project, called Siena, was placed into receivership after financial difficulties stalled its progress. The 52,753-square-foot development includes residential and commercial units and is located in a vibrant area undergoing rejuvenation. The acquisition allows Landa Global to avoid property-transfer taxes while continuing construction with necessary permits in place.