Medical clinic centrepiece of Manitoba complex

Medical clinic centrepiece of Manitoba complex

A new business park in Selkirk, 35 kilometres east of Winnipeg, has landed an ambitious, multi-phase development that will include a medical clinic, a health-and-wellness complex, a transitional-care facility, a commercial/retail complex and a restaurant plaza. Selkirk’s Herbsman Inc. is developing the Easton Place Medical Centre on 16.5 acres within the city of Selkirk’s new business park.

Winnipeg Free Press

Land sales, condos could fund Northlands: Councillor

Land sales or 99-year lease agreements for residential condos at the south end of the Northlands campus could help fund its ambitious redevelopment scheme, says Edmonton City Coun. Tony Caterina. Northlands Vision 2020, set to be presented to council Tuesday, identifies the southwest corner of the 64-hectare site as a prime location for residential development, said Caterina.

Edmonton Journal – Global News – Edmonton Journal

C&W Canada CEO has a growth mandate

Newly appointed Cushman & Wakefield Canada chief executive Chuck Scott has no doubt about his role with the Toronto-based real estate services firm. “The mandate is pretty clear, it is to grow the company,” he said. “We are in this really perfect time here at Cushman & Wakefield in so far as we have got a lot of momentum that we have created coming off a record year across the country and pretty much all the markets and service lines.”

Property Biz Canada

Allied REIT reviews acquisition strategy, buys office

Allied Properties Real Estate Investment Trust’s (AP.UN-T) latest office acquisition in Toronto’s Liberty Village fits its strategy perfectly and kicks off what president and chief executive officer Michael Emory expects to be an active year. “We’ve always had a position in Liberty Village and thought this was a very good opportunity to add to that position in a way that would give us good yield going in and a good intensification opportunity going forward,” Emory said.

Property Biz Canada

Slate REITs target smaller markets

Investors looking for non-residential real estate assets in large secondary markets are paying close attention to a pair of trusts behind Slate Asset Management LP. Slate Retail REIT (SRT.UN-T) invests in, owns and operates 66 properties, mostly in smaller U.S. cities. Slate Office REIT (SOT.UN-T) is focused on “non-trophy” downtown and suburban office space in Canada.

Globe and Mail – Property Biz Canada

Reimagining Winnipeg a bold vision

While Winnipeg’s core does not match the density and buzz of larger cities, it has many of the qualities I find, and crave, in other downtowns. And some features other cities do not have. I love the architecture, the design of its streets and the natural balance of the two great intersections of downtown Winnipeg. 

Winnipeg Free Press

Marriott vows Starwood buy will stand

Marriott International Inc (MAR-Q) expressed confidence Monday its acquisition of Starwood Hotels & Resorts Worldwide Inc (HOT-N) would go through as planned, despite a richer counter-offer from a consortium led by Anbang Insurance Group Co. Marriott and Starwood had announced a stock-and-cash merger agreement in November valued at $16.2 billion Cdn.

Globest.com – Ottawa Business Journal – Reuters – Bloomberg

Going against the grain works for Wesgroup

Most developers take the same approach to mixed-use developments – build the residential and the new homeowners will bring in the retail. Vancouver-based developer Wesgroup decided to take the opposite approach – with much risk – and it worked.

Read more

Millennials fleeing Vancouver hurt tech sector

Kevin Oke had a Vancouver millennial’s dream job, working as lead designer at a video-game company whose clients included Atari and Ubisoft Entertainment SA, but he still couldn’t afford a house. So he left his native city and moved to Victoria in 2014. Oke, now 33, is part of the millennial retreat from a city where housing prices have skyrocketed.

Bloomberg

Hyperloop promises near-supersonic speeds

It’s not a plane. It’s not a train. It’s a Toronto company’s vision of sending you through a tube at almost supersonic speeds. The promise is to get Canadians from Toronto to Montreal in less than half an hour The technology is called Hyperloop, and the idea has been around since 2012, when billionaire inventor Elon Musk first proposed it.

Toronto Star

Canadian retailers failing to adapt

In fashion, you’re only as good as your last season. But now, you also have to be fast and adaptable, something retailers like Danier Leather, Laura, Smart Set and Jacob haven’t been able to do. In Canada, many retailers had a “great thing going for years,” according to Farla Efros, the president of HRC Advisory.

CBC News – National Real Estate Investor

Aldo’s reboot keys on overhauling sales strategy

It was an unprecedented day for footwear retailer Aldo Group Inc. On Dec. 10, the global shoe giant hut down its head office in Montreal for the day. Its new CEO, Patrik Frisk, instructed Aldo’s HQ employees to go back to their desks and draw up their 2016 goals for the company, in what he called GPS Day: Goal Planning Strategy Day.

Globe and Mail

Edmonton pawn shops booming as economy tumbles

If Edmonton pawn shops are any sign of the economy, things are bad and may be getting worse. “I’ve been in the business almost 20 years and I’ve never seen it this bad. It’s been rough for people,” said John McQuarrie, manager of West End Exchange.

Edmonton Journal

Sale price for Esso stations surprised analysts

VIDEO: Imperial Oil (IMO-T) received $2.8 billion for 497 gas stations last week, four times what analysts had predicted. Geoffrey Morgan explains what this might mean for other companies with gas station assets.

Financial Post

Hines-Goldman Sachs snag parcel for proposed SF tower

A joint venture of Hines affiliate Urban Pacific Development, LLC and Goldman Sachs affiliate Broad Street Principal Investments, LLC was selected by the Transbay Joint Powers Authority (TJPA) to acquire Parcel F, the last development site in San Francisco zoned for a building height taller than 550 feet. The purchase price was $160 million US.

CoStar Group – Commercial Property Executive

Featured Column

Retail Investment GTA Activity (2006-2015)

The total volume in square feet of retail properties sold in the GTA since 2006 has fluctuated from lows of 2.3 million square feet in 2009 and in 2012 to a high of 7.1 million square feet in 2011.

Read more

Market Trends and Research

	Canadian Metropolitan Outlook: Winter 2016
	The Conference Board of Canada publishes a quarterly overview of the outlook for the economies of metropolitan centres in Canada.  It provides a national overview and individual city reports, as summarized in this RENX chart. Conference Board of Canada: Metropolitan Outlook Chart: Winter 2016

 

Real Estate Companies

Egyptian developers demand increase of joint projects

A number of real estate developers urged the Egyptian government to put forth a programme to activate partnership with the private sector, through which the developers could inject their liquidity in development projects and get required lands. Several officials in the sector highlighted the importance of promoting the North Coast area and attracting investors.

Daily News Egypt

REOC Financial Reports

	REITs & REOCs – Fourth-quarter 2015 report
	RENX has prepared a table with a convenient list of the companies and a summary of links to their reports that will be updated quarterly. Fourth-quarter results are now arriving. Canadian REITs & REOCs – Fourth-quarter 2015 report

 

Real Estate Investment Trusts

Insiders buying at H&R REIT

Today, INK Research revisits H&R REIT (HR.UN-T). While the unit price remains below its 200-day moving average, it is trading above its 20-day and 50-day moving averages and is up more than eight per cent during the past 30 days as of midweek. During the rally, four insiders  have spent nearly $1.5 million buying units.

Globe and Mail

Greenland to list REIT in Singapore

Chinese property developer Greenland Group said Friday its unit plans to set up and list a REIT backed by hotel assets in China on the main board of the Singapore Exchange. The REIT, to be set up by Greenland Holdings and investment firm Amare, will purchase 19 hotel properties from Greenland for $4.27 billion Cdn, it said.

Reuters – theedgemarkets.com

Retail

Apollo Global to buy Fresh Market

Specialty grocery retailer Fresh Market Inc (TFM-Q) said Monday it agreed to be acquired by private equity firm Apollo Global Management LLC (APO-N) for about $1.81 billion Cdn in cash. Specialty retailers such as Fresh Market have been struggling against Wal-Mart Stores Inc (WMT-N), Kroger Co (KR-N) and Whole Foods Market Inc (WFM-Q).

Reuters – Forbes

New Development

Nor-Built recreating ‘old America’

Recreating the warm feel of small-town main street is behind the throwback design of a new residential/commercial complex in Amherstburg. The concept drawings depict a retro-style facade with retail space on the ground floor and residential apartments above. Builder Norbert Bolger, of Nor-Built Construction, refers to the design as “old America.”

Windsor Star

Renovation and Restoration

NCC to streamline sesquicentennial reconstruction

The National Capital Commission will separate the rebuilding of a heritage site from upgrades to the neighbouring block of Sussex Drive to ensure what it considers an integral part of its contribution to Canada’s sesquicentennial celebration is ready on time. Initial design drawings depicting a “glass box” by architect Anthony Leaning were shot down by Ottawans.

Ottawa Citizen

Infrastructure

Giant canopy part of Atlanta airport expansion

Officials in Atlanta are laying the groundwork for an expansion of the world’s busiest airport. Hartsfield-Jackson Atlanta International Airport officials unveiled details Thursday for a $6-billion expansion and renovation project. Airport general manager Miguel Southwell said plans include a giant, translucent canopy that will cover the streets and sidewalks outside the main terminal.

Winnipeg Free Press – Atlanta Magazine

Technology

Face-reading tech could make shopping more convenient

As you cruise through a shopping mall, you know you’re being filmed by security cameras keeping an eye out for shoplifters. Software like Eyeris’ Emovu, NEC’s Neoface or Eyesee also lets retailers determine your gender, race and approximate age, where and how long you looked at different displays and whether you were smiling or frowning at the time.

CBC News

Other

	RENX has surpassed 8,875 Twitter followers
	Follower Bonneville Multifamily Capital specialized in multifamily USDA and HUD/FHA loans. Based in Salt Lake City, UT it is the largest USDA lender in the country.
	Follow RENXca, the most comprehensive news feed on Twitter for Canadian real estate professionals.