New deals bring Toronto Bay Park Centre to life

New deals bring Toronto Bay Park Centre to life

The first stage of the 2.9-million-square-foot downtown Toronto Bay Park Centre office complex that will house CIBC’s headquarters and a new GO bus terminal is set to break ground in June. “The overall project value is projected to be a little under $2 billion,” said Jonathan Pearce, Ivanhoé Cambridge’s senior vice-president of North American office leasing.

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Crown closes on ‘unique’ downtown TO property

Toronto’s Downtown West is one of the city’s hottest markets, a fact that has Crown Realty Partners celebrating the purchase this week of 111 Peter Street. The real estate investment and management firm purchased the 252,000-square-foot building along with partners from a pension fund owner, according to Emily Hanna, a Crown Realty partner.

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Rental stigma? Not in Vancouver or Toronto, experts say

Any stigma associated with renting an apartment versus buying a condo in high-cost housing cities has disappeared, Vancouver Real Estate Forum panelists concluded at an April 11 session. “People are deciding rental is not just a stepping stone. Rental is an end game,” said Dan Sander, director of Hollyburn Properties.

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Greybrook on land buying spree in the GTA

Over the past month, Greybrook Realty Partners has been on a buying spree of land to the east and north of Toronto suitable for housing.

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Developer has big dreams for small towns

The town of Crossfield — about 30 minutes north of Calgary — has long been an agricultural hub known best for its rolling prairie and Rocky mountain views. It’s a rural community that like many others across Canada have stagnated for many years as growth has largely favoured major centres.

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Saskatoon office trends you need to know

In spite of a forecast for a slight increase in the unemployment rate and decrease in housing starts in Saskatchewan, RBC Provincial 2017 Outlooks is predicting a growth in GDP of 1.8 per cent.

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Six months ago: Algoma Central Properties has begun its selloff

While Algoma Central Properties president Tom Siklos would prefer if its parent company wasn’t getting out of the real estate business, he’s trying to make the most of it. “We want to accomplish what the board has asked and when we walk away from here we want to have raised as much capital as possible,” said Siklos, who’s in his seventh year as president of the Algoma Central Corporation unit.

Property Biz Canada

One year ago: Hotel sector to stay hot in 2016: Colliers

Canada enjoyed its third-richest year for hotels deals in 2015 and Colliers International’s 2016 Canadian Hotel Investment Report predicts more of the same this year. That optimism is driven by increased interest from foreign buyers, the strength of Toronto and Vancouver markets and by strong continued lender interest in the sector.

Property Biz Canada

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