Pure Industrial REIT acquires portfolio in Alberta

Pure Industrial REIT acquires portfolio in Alberta

Pure Industrial Real Estate Trust (AAR.UN-T) announced that it has entered into an unconditional agreement to acquire a portfolio of income producing properties located in core markets in Alberta, a conditional agreement to acquire a portfolio in the Southeastern U.S., acquisition and redevelopment of  330,000 square foot Richmond, BC property.

Marketwired

ELAD acquires stake in Agellan Commercial REIT

ELAD Canada Inc. has entered into an agreement to acquire, through an indirect subsidiary, approximately 13.4% of the issued and outstanding Units of Agellan Commercial REIT (ACR.UN) a Toronto-based real estate investment trust which owns and operates a diversified portfolio of income producing industrial, office and retail properties in the United States and Canada.

Canada Newswire

Artis REIT sells industrial properties in Alberta

Artis REIT (AX.UN-T) has entered into an unconditional agreement to sell a portfolio of eight industrial properties located in Alberta, totaling approximately 1.2 million square feet of gross leasable area. The REIT has also entered into an unconditional agreement to sell one retail property located in Alberta and provided an update on property dispositions year-to-date.

Canada Newswire – Artis REIT future is more America, less Alberta

Tsawwassen Mills mall hoping to attract far-flung customers

Metro Vancouver’s newest mega-mall is opening its doors this morning near the Tsawwassen ferry terminal, but it remains to be seen if it will draw enough shoppers and workers for long-term success. Built on Tsawwassen First Nation land, the Tsawwassen Mills shopping centre will be the fourth largest in Metro Vancouver, based on its 1.2 million square feet of retail space.

CBC

Li Ka-shing’s CKI expands airport parking footprint in Canada

Hong Kong tycoon Li Ka-shing’s Canadian airport car park operator Park’N Fly has acquired an indoor airport parking business for C$12 million. Park’N Fly, 50 per cent-held by Li’s Cheung Kong Infrastructure (CKI), has bought a “valet indoor airport parking” business adjacent to the Winnipeg International Airport in central Canada.

Business in Vancouver

Renowned Vancouver architect Bing Thom has died

Architect Bing Thom designed beautiful buildings. But his structures weren’t worlds unto themselves — they were designed to make a positive cultural contribution to their city. The result was a legacy of striking buildings that brought the Vancouver architect acclaim around the world.

Vancouver Sun

Crown marks 15 years in the GTA CRE market

Crown Realty Partners has grown from five employees 15 years ago to 101 today, and managing partner Les Miller says it’s people that have driven the company’s prosperity. “The staff that we’ve hired have all had an entrepreneurial spirit and been customer-focused and had a true appetite to succeed.”

Property Biz Canada

Proposed Edmonton tower would smash height records

East downtown residents are getting word they could one day have a record-breaking neighbour. Alldritt Land Corp. is pitching an 80-storey mixed residential tower that could end up as much as 29 metres taller than the Ice District’s 251-metre Stantec tower, still under construction, but billed as the tallest tower in Western Canada.

Edmonton Journal

Calgary’s Lord Shaughnessy the greenest school in Canada

The Career and Technology Centre (CTC) at Calgary’s Lord Shaughnessy School has been named the Greenest School in Canada. The school received the award from the Canada Green Building Council (CaGBC) and theCanada Coalition for Green Schools.

Sustainable Biz Canada

Calgary rezones golf course for real estate development

Council approved the rezoning that will pave the way for a 716-unit housing development on a closed golf course late Monday despite hearing from dozens of Calgarians who voiced their opposition to the plan. For hours, citizens detailed their concerns with the pitch to redevelop the former Harvest Hills golf course that many said is a beloved 26-hectare green space.

Calgary Herald

FTQ and SMB launch residential project in Quebec City

Fonds immobilier de solidarité FTQ and Groupe immobilier SMB are partnering on Le Hameau Saint-Jacques, a new residential development that capitalizes on the natural setting of the Les Rivières borough and located on Saint-Jacques Boulevard, at the northwest tip of the Lebourgneuf neighbourhood in Québec City.

Canada Newswire

CAPREIT acquires London, Ontario townhome property

Canadian Apartment Properties Real Estate Investment Trust (CAR.UN-T) has completed the acquisition of an 87-suite luxury town home property in London, Ontario. The property is centrally located in North West London close to a large shopping centre, schools, restaurants, banks and fitness centres, and is a short drive from the University of Western Ontario.

Marketwired

Toronto developer Urbancorp sights on a new project

The Toronto developer behind the revitalization of the Windemere, a once notorious apartment building at 48 Weber Street West in downtown Kitchener, says the renovations are now complete as it sets its sights on a new redevelopment project. Urbanfund Corporation renovation of 48 Weber is complete and that 95 per cent leased and occupied.

CBC

Air rights deal complicates Toronto’s rail corridor park

Two Toronto law firms are confirming the existence of an agreement to transfer the rights to the air space over the rail corridor to a GTA developer (Craft Acquisitions Corporation) with dreams of building condominiums — in the same space being eyed by the city and Mayor John Tory for a large public park.

Toronto Star

The challenges of developing old service stations

Carpathia Credit Union is a little Winnipeg financial institution that was looking to make a big impact with a new branch a few years ago. “We wanted a location with a lot of traffic that was also in a residential area,” says chief executive officer Walter Dlugosh. Land in Winnipeg’s older, established neighbourhoods was difficult to find.

Globe and Mail

Featured Column

Part 3: Technology is going to change everything

There’s never been a better moment in the history of commercial real estate in Calgary, or anywhere in the world. And the lessons we can learn from the Calgary marketplace apply regardless of where you live, or even what industry you’re in.

Read more

	Multi-residential Property Biz Canada in 2017
	In 2017, or sooner, RENX is going to publish a second weekly edition of Property Biz Canada focused primarily on the multi-residential sector in Canada. This is a great new advertising opportunity to reach professionals in this sector of the industry. Contact sales@renx.ca, 1-855-569-6300

 

Market Trends and Research

Burnaby blasts province for $1.53 billion in taxes

As the number of real estate purchases by foreign buyers continues to drop in Burnaby, city politicians are once again taking aim at the provincial government for the affordable housing crunch facing the region.  City council recently approved a recommendation to request that Metro Vancouver gather municipal views on the province’s new Housing Priority Initiatives Fund.

Burnaby Now

Regina building permits plunge 46% to $39M in September

Construction activity plunged 46 per cent to $39 million in September, compared with $72.5 million during the same period last year, according to the City of Regina’s monthly building permit report released Tuesday.

Regina Leader Post

Real Estate Companies

Vail Resorts, Whistler Blackcomb combo receives Investment Canada Act approval

Vail Resorts, Inc. (MTN-N) and Whistler Blackcomb Holdings Inc. (WB-T) announced that Vail Resorts has received Investment Canada Act approval in connection with the previously announced strategic combination joining Whistler Blackcomb with Vail Resorts by way of plan of arrangement.

Canada Newswire

Nick Yanovski joins Avison Young in Toronto

Avison Young announced today that highly regarded capital markets specialist Nick Yanovski has joined the firm in Toronto. Effective immediately, Yanovski becomes a Principal of Avison Young and member of the Toronto capital markets team. In this role, he will focus on sourcing capital markets transactions in theGreater Toronto Area (GTA) and Ontario-wide.

Canada Newswire

REOC Financial Reports

	REITs & REOCs – Second-quarter 2016 report
	RENX has prepared a table with a convenient list of the companies and a summary of links to their second-quarter 2016 results. Have we missed any?  Canadian REITs & REOCs – Second-quarter 2016 report

 

Retail

Profit dip at Jean Coutu Group, untaxed online sales irk merchants

Pharmacy chain Jean Coutu Group (PJC.A-T) boosted revenues 2 per cent to $701 million in the second quarter ended Aug. 27, but profits fell slightly, to $51.5 million from $53.8 million a year ago. Quebec merchants are unhappy with the inertia of the federal and provincial governments in tackling the issue of taxation of online purchases from outside websites.

Montreal Gazette

New Development

Fort McMurray’s Waterways subdivision starts rebuild

The Alberta government has assured the residents of a fire-ravaged community in Fort McMurray they can rebuild even though the subdivision sits on a floodplain. “This clears the path in some respects of people looking for some answers,” Mayor Melissa Blake said Tuesday.

CBC

Broadview Hotel prepares to strip off its veil

It’s the full-frontal makeover of a landmark that’s been teasing east-end residents for months. This week the scaffolding and construction mesh finally get ripped off the restored red Romanesque Revival facade of the Broadview Hotel, formerly Jilly’s strip club.

Toronto Star

Cabot Links golf resort expansion reignites beach-access concerns

A community in Cape Breton is grappling with a sense of unease as it watches a golf resort — that is widely credited with growing the local economy and creating jobs — forge ahead with plans for further development that some residents aren’t sure they want, worried they’ll lose access to a popular adjacent 1.5-kilometre beach.

CBC

Infrastructure

George Massey bridge shortlist announced

Two divisions of a company blacklisted from World Bank-financed infrastructure projects for bribery are part of a shortlisted consortium bidding to build a $3.5 billion bridge over the Fraser River. SNC-Lavalin Capital Inc. is listed as an equity partner with Fluor Canada Ltd. and John Laing Investment Ltd. under the banner of Pacific Skyway Partners for Massey Tunnel replacement project.

Business in Vancouver

Scarborough subway might already be off track

The head of the TTC, Andy Byford is warning that the Scarborough subway project that council voted for less than three months ago is already at risk for delays and cost increases. Andy Byford said it’s still possible to complete the one-stop extension by 2025 and at a cost of $3.2 billion, “but we’re flagging it’s a red, as in danger.”

Toronto Star

Saskatchewan needs $51B worth of infrastructure

Saskatchewan will need more than $50 billion worth of infrastructure in the next decade or two to backfill the province’s current infrastructure deficit and keep pace with economic and population growth, according to a new study by the Institute of Certified Management Consultants of Saskatchewan (CMC Saskatchewan).

Regina Leader Post

Other

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