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Amazon to open massive Ottawa distribution centre

6 years ago

Amazon to open massive Ottawa distribution centre

The world’s largest retailer is building a massive new facility in Ottawa’s east end. Amazon’s distribution centre will be a million square feet — the largest industrial building ever built in the city. It will sit on a 96-acre property and include 99 truck loading bays.

CTVCBCOttawa Business Journal

Fate of Anbang’s B.C. properties unclear

After the former chairman of Chinese insurance giant Anbang Insurance Group was sentenced to 18 months in prison earlier this month, attention has turned to how the company’s overseas assets – including some high-profile properties in B.C. – will be managed.

Business In Vancouver

Minto files IPO for Minto Apartment REIT

Minto Properties has filed a preliminary prospectus for an initial public offering of shares to create the Minto Apartment REIT, the company announced Wednesday. The REIT will take over an initial portfolio of 22 income-producing, multi-residential rental properties from Minto Properties.

Property Biz CanadaProperty Biz Canada

ROMSPEN

 

Sidewalk Toronto ‘fundamentally different’ urban approach

There’s a lot of curiosity surrounding Sidewalk Labs and Waterfront Toronto’s Sidewalk Toronto effort to create a new kind of mixed-use community on the city’s Eastern waterfront.

Property Biz Canada

Aurora acquisition spree raises ‘question marks’

One of Canada’s largest marijuana companies is on a buying spree that’s leaving “question marks” for investors. Since November, Aurora Cannabis Inc. (ACB-T) has invested in retail liquor stores, an organic waste technology company, and acquired multiple cannabis producers.

Financial PostCanada Newswire

Calgary buildings eye smaller floor plates to attract tenants

The oil price collapse which began in the latter half of 2014 triggered a skyrocketing downtown office vacancy rate in Calgary’s skyscrapers and a new reality for the market.

Property Biz Canada

ENMAX to build District Energy Centre in Edmonton

The success of Calgary’s eight-year-old District Energy Centre has utility company ENMAX looking to build a similar centralized heating system in Edmonton. The concept displaces individual building boilers and heating systems.

Sustainable Biz Canada

Firm Capital Billboard

 

Blackstone, Ivanhoé close $3.8B acquisition of PIRET

Pure Industrial Real Estate Trust (AAR-UN-T) Thursday announced the closing of the previously announced plan of arrangement, pursuant to which an affiliate of Blackstone Property Partners (BX-N)  and Ivanhoé Cambridge acquired all of its issued and outstanding trust units.

Canada NewswireProperty Biz Canada

Latest IPOs signal REIT resurgence

REITs are falling back into investors’ favour, resulting in a rare resurgence of initial public offerings — all in the face of rising interest rates. BSR REIT (HOM-U-T) recently completed a US$135-million IPO, and on Wednesday, Minto Apartment REIT filed for its own IPO.

Globe and Mail (Subscription required)

Granite REIT’s ex-COO facing assault charge

According to court filings, in early November Granite REIT‘s (GRT-UN-T) then-chief operating officer and co-head of global real estate John De Aragon allegedly assaulted the company’s chief financial officer, Ilias Konstantopoulos. De Aragon is now facing one charge of assault. 

Financial Post

Edmonton rejects Holyrood Gardens development plan

The Edmonton Design Committee has rejected new plans for the Holyrood Gardens redevelopment, saying they require a “fundamental redesign.” Regency Developments had proposed building three towers 18 to 22 storeys high and four six-storey mid-rises as part of a 1,200-unit project northeast of the Bonnie Doon traffic circle.

Edmonton Journal

City of Edmonton Stovel Listing

 

Infrastructure bank tabs ex-CPPIB exec as CEO

The new chief executive of the $35-billion Canada Infrastructure Bank says it will be nine to 18 months before it will be ready to announce its first investment. Pierre Lavallee is a former senior executive of the Canada Pension Plan Investment Board.

CBCFinancial PostGlobe and Mail (Subscription required)

‘Brilliant’ silence: Amazon’s HQ2 weapon of choice

Nine months ago, Amazon tucked itself into a cannonball and splashed every city in North America with an unprecedented public challenge: If you can meet our requirements, convince us to build a multi-billion-dollar headquarters in your town. Toronto became the only Canadian city to make the final-20 list.

BisnowFortuneGlobe and Mail (Subscription required)

Time may be right for more M&A among U.S. REITs

There are several large proposed REIT mergers in the books already in 2018, but analysts say the activity may not be done yet.  First, General Growth Properties Inc. (GGP) agreed to a buyout  offer from Brookfield Property Partners (BPY-UN-T).

National Real Estate InvestorThe Real DealForbes

Facebook signs largest office lease in San Fran

A joint venture of MetLife Investment Management, The John Buck Co. and Golub & Co. has signed Facebook (FB-Q) to a 755,900-square-foot lease at Park Tower at Transbay, a new class-A building in San Francisco.

CP Executive

Winnipeg Real estate Forum

 

Featured Column

BizStill passionate after 40 years . . . just getting started

I was 20 years old when I made my first serious attempt at selling myself. I had come to the realization after a period of overseas travel that we were incredibly fortunate to live in Canada. Real estate investment was extremely accessible.

Read more

Market Trends and Research

Toronto land-transfer tax revenue beats expectations

Despite a slide in residential home prices and sales, Toronto brought in $30 million more than expected from its land-transfer tax in the first three months of the year, thanks to an unexpected boost from the commercial real estate market.

Globe and Mail

Calgary is almost out of cemetery space

Calgary is running out of cemetery space. Doug Marter, manager of capital planning and infrastructure with Calgary Parks says the city knows it has a problem, even with a new cemetery set to open in 2020.

CBC

Real Estate Companies

Gazit-Globe sells Regency Centers shares for $295M US

Gazit-Globe (GZT-T) Thursday announced a wholly owned subsidiary sold 3.5 million shares of common stock of Regency Centers Corporation (REG-N) for approximately $200 million US. Including a May 17 sale, the total is approximately $295 million US.

Globe Newswire

Madison Marquette, PMRG merging

As firms such as Avison Young, Newmark Knight Frank and Cresa Partners are seeking alternative ways to compete with the global players, Madison Marquette and PM Realty Group are in merger talks.

CoStar GroupPR Newswire

REIT Financial Reports

Latest financial results:

* European Commercial REIT, (ERE-UN-X), Globe Newswire

Real Estate Investment Trusts

Bank borrowing risks remain for U.S. REITs

Bank borrowing by U.S. REITs surged post-crisis, despite strong unsecured bond market conditions. Bank borrowing grew in tandem with the economy exiting the recession as a surrogate for longer-term, and more expensive, unsecured bond issuance. Five-year to seven-year unsecured term loans became more attractive than unsecured bond issuance, due to more flexible tenors, lower all-in cost and prepayments without penalty.

CP Executive

Top IDA executive to chair new Irish property REIT

U.K.-based Peak Capital Partners has lined up Barry O’Dowd, a senior IDA Ireland executive who is set to retire from the agency, to chair a new Irish REIT preparing to float in Dublin and London this month. Yew Grove REIT announced Thursday it was planning an initial public offering with a portfolio of 10 properties, valued at $40 million Cdn.

Irish Times

Legal Corner

Cressey suing insurers over Fort Mac damage

Cressey Development Corp. and a group of affiliates are suing Lloyd’s Underwriters and several other insurers over losses suffered in the Fort McMurray wildfire in 2016. Cressey and its affiliates seek unspecified damages for breach of contract of insurance.

Business In Vancouver

Retail

Vancouver’s Olympic Village announces new retail tenants

WildTale, PappaRoti and Nook are the latest restaurant additions to Olympic Village’s trendy urban scene and speak to Executive Group Development’s promise to provide unique, experiential and service-related retail offerings at the Shops at West to meet the needs of the local community.

Canada Newswire

Infrastructure

REM launches urban, architectural integration committee

In order to ensure the new transit network integrates seamlessly into the various living environments and communities it will serve, the REM project office and the City of Montréal have launched an advisory committee to discuss its urban and architectural integration.

Canada Newswire

Other

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