TransLink sells six-hectare Oakridge Transit Centre

TransLink sells six-hectare Oakridge Transit Centre

The Lower Mainland’s transit agency has won a jackpot that will provide $440-million for the region’s ambitious system expansion. TransLink announced on Tuesday the six-hectare Oakridge Transit Centre has been sold to a partnership between Intergulf Development Group, and Asian developer Modern Green Development Co.

Globe and Mail – CBC – Vancouver Sun – Business in Vancouver

Next-gen grain terminal to be build in Vancouver

G3 Terminal Vancouver, an affiliate of G3 Global Holdings (G3), is pleased to announce that it will build a state-of-the-art grain export terminal in North Vancouver, British Columbia, the first new grain terminal constructed at the Port of Vancouver since the 1960s.

Canada Newswire

Greybrook and Fieldgate team up in Shelburne, Ont.

With people continuing to be priced out of the Greater Toronto Area (GTA) single-family housing market, communities on the periphery are taking advantage and looking to meet their needs. One of the latest planned developments to do this will be built on a 54-acre site in Shelburne co-owned by Greybrook Realty Partners Inc. and Fieldgate Homes.

Property Biz Canada

Pension funds to buy Halifax industrial building

In a $40 million deal that’s set to close in early January, national real estate investment management company Fiera Properties is buying 400,000 square feet of brand new industrial property in Halifax’s Bayers Lake and Burnside Industrial Park.

The Chronicle Herald

Amazon chooses Montreal for its Canadian data centre

Internet giant Amazon Web Services has opened a cluster of data centres near Montreal due to the ready availability and cost of hydro-electric power in Quebec. The company, which is notoriously secretive about its data centres, said there are now at least two data centres just outside Montreal to offer web-based services to the “Canada Region.”

Montreal Gazette

Calgary developer hired security months before shooting

The Calgary real estate executive shot and injured in a targeted attack had hired private security personnel several months ago after receiving threats. A source close to Riaz Mamdani, chief executive officer of Strategic Group and his family said the Calgary businessman had hired security to be posted inside the perimeter of his mansion in Calgary’s wealthy Mount Royal neighbourhood.

Globe and Mail – Globe and Mail

Canadian retail leaders Launch retail innovation challenge

Four of Canada’s most influential retail players are teaming up to launch the Canadian Retail Innovation Challenge. Dx3 Canada, in conjunction with leading retail real estate investor, developer and manager, Oxford Properties Group; industry thought-leaders, Retail Prophet; and the Retail Council of Canada (RCC), have created the national contest.

Canada Newswire

Freshii restaurant chain files for IPO

Restaurant chain Freshii Inc. is going ahead with an initial public offering of its shares. The company says it has filed a preliminary prospectus with securities regulators in Canada for an initial public offering and secondary offering of class A subordinate voting shares.

Toronto Star

The LCBO’s absurd monopoly

The holidays are for winding down, which can mean vegging out, which in the 21st century can mean even more random channel surfing than usual. This weekend such surfing brought me to an interview by the estimable Amanda Lang with the president and CEO of the Liquor Control Board of Ontario, or LCBO, as it’s now known.

Financial Post

DND building in Ottawa still shut down

On Friday two Department of National Defence buildings in Ottawa. Department of National Defence offices at 25 Nicholas St. were evacuated due to power outage and sprinkler system outage. There was also a flood there. And the DND building at 615 Booth St. had been shut down completely because of a boiler failure.

Ottawa Citizen

High-end apartments slated for Halifax’s Robie Street

A proposed $100 million high-end rental residential development will soon rise in Halifax’s downtown core, at the southeast corner of Robie and College streets. The Promenade at Robie South will feature two apartment towers with about 376 rental units, underground parking, ground-floor commercial spaces opening directly to the city sidewalks, public spaces or amenities and a promenade-style walkway along College Street.

The Chronicle Herald

Buildings on climate change agenda tops CaGBC’s big year

It means a lot to Thomas Mueller, president and CEO of the Canada Green Building Council (CaGBC), that the Pan-Canadian Framework on Clean Growth and Climate Change recognizes the building sector as an area critical to reducing greenhouse gas emissions. Mueller pushed hard to get buildings recognized as a major contribution to emissions. But it’s also only the beginning as far as he’s concerned.

Sustainable Biz Canada

Colliers to merge with largest affiliate

Colliers International Group, Inc. (CIGI-Q) on Thursday announced plans to merge with its largest independently owned U.S. affiliate, Colliers Parrish International Inc. (CPI), bringing 400 real estate professionals across nine offices in Northern California and Nevada under the corporate umbrella.

CoStar Group

JLL continues US expansion of valuation & advisory services

JLL (JLL-N) has acquired the Chicago affiliate of Integra Realty Resources (IRR), a leading network of independent U.S. commercial real estate valuation, counseling and advisory firms. This acquisition builds upon the addition of the Houston affiliate of IRR in October and Dallas affiliate of IRR earlier this month.

Marketwired

Allianz, CBRE GIP back €1bn European student housing fund

International Campus has launched €1bn student housing fund with €600m already raised from Allianz and another European investor. The Fizz Student Housing Fund is intended to operate as a long-term investment vehicle and will help accommodation specialist International Campus expand across Europe.

IPE Real Estate

Market Trends and Research

Lowering tax burden on N.S. businesses

Slash the tax burden on Halifax businesses by half, move to a very simple and basic commercial tax rate in the city and slap user fees on companies for the municipal services they use, says a public policy think-tank. “The No. 1 issue is the municipal government’s property taxes,” Benjamin Dachis, associate director of research for the C.D. Howe Institute.

The Chronicle Herald

Real Estate Companies

Directors selling at Atrium Mortgage Investment

Today we look at Atrium Mortgage Investment which invests in mortgages secured by residential, multi-residential, and commercial property in urban centres in Canada. The share price set a 52-week high of $12.60 on Aug. 25. The stock has subsequently dropped 5.0 per cent versus a 3.6-per-cent gain for the INK Canadian Insider Index as of Dec. 14.

Globe and Mail

Mainstreet Health Investments Inc. acquires three memory care communities

Mainstreet Health Investments Inc. (HLP-U-T) has closed on the previously announced acquisition of a portfolio of three memory care communities in the U.S. comprising 171 units for an aggregate purchase price of US$44.3 million.

Canada Newswire

Real Estate Investment Trusts

This fund manager isn’t writing off REITs

Seasoned investors should also be trained skeptics, so when catalysts such as the U.S. election appear to change the existing investment regime, there is a temptation to fade big moves in the market. This contrarian strategy goes against the prevailing trend, taking the view that the market is being naive or overly simplistic with its sudden moves.

Financial Post

NorthWest Healthcare Properties REIT announces full exercise of over-allotment option

NorthWest Healthcare Properties REIT (NWH.UN-T) issued an additional $10.5 million aggregate principal amount of 5.25% convertible unsecured subordinated debentures of the REIT. The issuance was pursuant to the exercise in full of an over-allotment option granted by the REIT to a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets.

Canada Newswire

Allied Properties REIT announces renewal of share buy back

Allied Properties REIT (AP.UN-T) has received approval from the Toronto Stock Exchange  for the renewal of its normal course issuer bid which will enable it to purchase up to 8,306,955 of its 84,731,533 issued and outstanding units as at December 7, 2016, representing approximately 10% of its public float of 83,069,554 Units as at that date.

Marketwired

Retail

Peter Freed and partners acquiring Toronto Fashion Week

Peter Freed announced the purchase of Toronto Fashion Week® from IMG Canada Limited.  Freed, President of Freed Developments, is spearheading the ownership group comprised of several of the country’s top executives in real estate, media and finance.

Canada Newswire

Restaurants and Eateries

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New Development

Mount Pleasant needs more density

Growing up, my grandmother would tell us stories about southeast False Creek — about the dirty water and polluted air. Back then, the area was a heavy industrial hub on the outskirts of the city core. But in my lifetime the neighbourhood has changed dramatically.

Vancouver Sun

Why the library got it right with the new central site

Aspiring to greater things. That was the front page of the Ottawa Citizen on April 21, 2012 just before the 2012 Planning Summit. It was hoped the outcome of the summit would start a renaissance in urban planning where we would stop planning for the lowest common denominator, bring certainty to the planning process and embrace architectural greatness.

Ottawa Citizen

Sports Venues

Edmonton community unhappy with parking lot rezoning

A downtown community league is feeling a little cheated by city council’s decision to rezone a parking lot north of Rogers Place in exchange for a donation. The Central McDougall Community League’s board of directors found out about the city’s decision to allow parking lots to be developed and operated for three years  through a Postmedia story.

Edmonton Journal

Infrastructure

Based on faulty premise we’re to widen Ottawa’s Highway 417

We’re sinking another $95 million into widening Highway 417, for some reason. This time it’s adding a lane in each direction between Maitland Avenue and Island Park Drive, which is three kilometres of highway. Nearly $16 million for each kilometre of new lane.

Ottawa Citizen

OPINION: What’s with the road toll love-in?

There is no doubt Canadians are going to pay more for infrastructure over the next decade, but tolls are the wrong way to do it. It’s easy to see the allure of road tolls. They punish driving, which some view as inherently evil, and they give politicians a new sack of money so they can promise to spend more on transit and reduce road congestion while holding the line on taxes.

CBC

Other

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