Google gets ready to ‘disrupt’ with Tango

Google gets ready to ‘disrupt’ with Tango

The phrase “disruptive technology” has been popular in the last few years as more and more technological gizmos come to market. Usually it refers to a technology that arrives at precisely the right moment to overwhelm its predecessor. The Tango development kit being sold by Google is equipped with technology that allows it to understand space and motion.

Daily Commercial News

This Canadian REIT is most-shorted company in N.A.

Canada’s largest residential landlord is the most-shorted company in North America as investors bet it will bear the brunt of a slow economic recovery in the oil-dependent region.  Short interest in Boardwalk REIT (BEI.UN-T) is at 37 per cent of its free float, or outstanding shares not held by insiders, the most shorted stock on Canada’s S&P/TSX Composite Index.

Globe and Mail

Hungerford acquires Edmonton’s Royal Alex Place

Long-term thinking and avoiding reliance on the oil and gas industries were behind Hungerford Properties’ recent decision to purchase Edmonton’s Royal Alex Place. The 11-storey building, with 44 residential units and three storeys of commercial space is in the downtown at 11112 101 St. NW.

Property Biz Canada

Halifax office building may see residential conversion

A commercial office building on Spring Garden Road could become a residential property in the future. The approximately 84,000-square-foot building at 5670 Spring Garden Rd. is owned by 51/56 Investments Ltd. and managed by Universal Realty Group.

The Chronicle Herald

True North Commercial REIT continues strategic growth

True North Commercial REIT (TNT.UN-T) is pleased to announce it has agreed to acquire a 40,000 square foot office property located at 5900 Explorer Drive, Mississauga, Ontario. The purchase price for the Explorer Property is $10.5 million, subject to customary adjustments and closing costs.

Canada Newswire

Agellan Commercial REIT to sell a portion of Parkway Place

Agellan Commercial REIT (ACR.UN-T) announced today that it has entered into agreements with certain private purchasers to sell a portion of the REIT’s Consumers Road office complex in Toronto, Ontario. The transaction involves the sale to the purchasers of the REIT’s partnership interest in 165 Yorkland LP.

Marketwired

Mayor Tory ‘horrified’ over removal of trees on Bayview

The clear-cutting of two thickly treed Bayview Ave. lots has “horrified” Mayor John Tory, who says he hopes any resulting prosecution results in fines of at least a million dollars to send a message to Toronto developers. Tory visited the site south of York Mills Rd. after the Star and other news outlets chronicled the fury of neighbours and local Councillor Jaye Robinson over the removal of trees.

Toronto Star – Toronto Star

Council approves Grandview-Woodland plan that allows higher density

Years of work by city staff and residents came to an emotional close Thursday as Vancouver councillors voted to approve the controversial Grandview-Woodland community plan.

Minutes before the vote, which passed with just one dissenting vote, Mayor Gregor Robertson addressed the tension that has formed between many of those closely involved in the development and refinement of the 30-year plan.

Vancouver Sun

Holt Renfrew at Square One sets a new bar for luxury

Holt Renfrew, Canada’s luxury destination since 1837, today unveiled the newest jewel in its network, a 130,000 square foot shop at Square One in Mississauga. As part of Holt Renfrew’s commitment to revitalize and enhance its network of stores on an elevated flagship store model, the Square One location takes luxury shopping to the next level, heralding a new era of extraordinary experiences.

Canada Newswire

Hudson’s Bay vice-chairman Bonnie Brooks tapped as LCBO board chair

The government of Ontario has named Hudson’s Bay Co. vice-chairman Bonnie Brooks as the new LCBO board chair, one day after announcing the launch of an online site where customers will be able to order alcohol.  Bonnie Brooks held senior roles with Hudson’s Bay Co. since 2008 when she joined the company and became its first female president and CEO.

Financial Post

Tim Hortons plans expansion into Southeast Asia

People craving a jolt of caffeine in the Philippines may soon be able to order a double-double at their local Tim Hortons.  Restaurant Brands International, the multinational owner and operator of Tim Hortons and Burger King, said it has partnered with a group of investors to establish a master franchise joint venture company in the Southeast Asian country.

Financial Post

CalSTRS seeking to de-risk CRE portfolio

The second largest public employee pension fund in the U.S., the California State Teachers’ Retirement System (CalSTRS) said it plans to take steps to lower its risk exposure in its real estate investments in the coming year. The $189 billion fund is planning to liquidate non-strategic CRE assets, particularly those it acquired before 2008.

CoStar Group

Airbnb rentals planned by Japanese real estate firm

Star Mica Co., a Tokyo-listed real-estate company founded by an ex-Goldman Sachs Group Inc. banker, plans to double returns from apartments using Airbnb to house tourists from abroad. The company owns about 2,500 apartments mostly in Tokyo.

Bloomberg

London timber skyscraper concept looks to the future

The idea of a timber skyscraper gracing London’s skyline may have taken a step closer to reality earlier this year, when conceptual plans for an 80-storey, 300-metre tower were presented to the city’s mayor.  Michael Ramage, of the University of Cambridge and Kevin Flanagan, a partner at PLP Architecture, presented the renderings to Boris Johnson, who at the time was still mayor of London.

Daily Commercial News

UK real estate investment fell prior to Brexit vote

The UK led a slowdown in commercial real estate investment across Europe in the first half of 2016, according to research by Real Capital Analytics (RCA) showing that uncertainty leading up to the country’s referendum on European Union membership added to a catalogue of risks deterring investors.

IPE Real Estate

Featured Column

Making buildings greener doesn’t have to be rocket science

For years, my brother complained about the heat in the summer cottage. I’d suggested that using a soaker hose to dampen the roof would turn the whole roof into a big air conditioning unit. He finally agreed to give it a try.

Read more

Market Trends and Research

U.S. office sector enjoys steady Q2 leasing momentum

The U.S. office market continued its steady momentum in the second quarter, recording 39.4 million square feet of net absorption in the first six months of 2016, nearly equaling the 40.2 million square feet absorbed during the record-setting first half of last year. The U.S. office vacancy rate ticked down another 15 basis points to 10.6% in the second quarter of 2016.

CoStar Group

Canada’s economy shrinks in worst month since 2009

The Alberta wildfires torched the Canadian economy in May, which saw the GDP contract by 0.6 per cent — the country’s deepest one-month decline in more than seven years.  On Friday, Statistics Canada’s latest reading for real gross domestic product revealed the extent of the economic damage caused by the blaze that roared through the heart of oilsands country.

Financial Post

Transit revenues down across Canada, StatsCan finds

OC Transpo’s not the only one scrounging for change between the O-Train seats. New data from Statistics Canada shows passenger bus and urban transit revenues were down across the country in 2014, falling 3.7 per cent from the year before.

Ottawa Business Journal

REIT Financial Reports

RioCan REIT announces third quarter financial results

Marketwired

InterRent REIT revenue up

Second-quarter revenue for Ottawa-based InterRent Real Estate Investment Trust (IIP.UN-T) rose more than 19 per cent year-over-year. The residential property owner reported operating revenue of $24.7 million during the three-month period that ended on June 30, up from $20.6 million during the same period last year.

Ottawa Business Journal

Real Estate Investment Trusts

Pure Industrial REIT secures mortgage financing of $110-million

Pure Industrial REIT (AAR.UN-T) today announced that the Trust has successfully closed on a $110 million mortgage financing.

Pure Multi-Family REIT closes CDN$37.3-million equity offering

Pure Multi-Family REIT LP (RUF.UN-T) announced the closing of its bought deal public offering of 4,884,000 Class A units, inclusive of 444,000 Units issued pursuant to the full exercise of the over-allotment option, at a price of CDN$7.64 per Unit, for gross proceeds to Pure Multi of CDN$37.3 million.

Marketwired

International

UMass wood construction expertise has Canadian roots

he Integrated Design Building at the University of Massachusetts, Amherst (UMass) is showing Americans how to build with mass timber—with a little help from Canadian experts. It’s also breaking records by featuring what’s believed to be the largest installation of wood-concrete composite floors in North America.

Daily Commercial News

Sustainability

JLL reports 2015 sustainability achievements

JLL (JLL-N) has outlined its renewed global commitment to sustainability in its recently released 2015 Global Sustainability Report, Building a Better Tomorrow.  The report reaffirms JLL’s commitment to sustainability and the tangible ways the firm is delivering positive financial, environmental and social results.

CaGBC to provide free LEED services in Fort McMurray

The Canada Green Building Council (CaGBC) will be providing free LEED registration and certification for residential, commercial and institutional rebuilding projects in Fort McMurray, Alta. CaGBC will work with LEED service providers EcoAmmo and 4 Elements Integrated Design, who will offer free LEED administration services to resident.

Daily Commercial News

Launch of Palais des congrès de Montréal and of the VERTical project

The Palais des congrès de Montréal becomes the main showcase for experimentation and promotion of the technologies and techniques in urban farming in Québec by deploying the Urban Agriculture Lab of the Palais des congrès de Montréal. This innovative project, which promotes the greening of the roof of the Palais through an experiment in sustainable development.

Canada Newswire

Other

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