Toronto condo site sells at the ‘right price’

Toronto condo site sells at the ‘right price’

Greybrook Realty Partners Inc. had big plans for its four-acre parcel of land on Toronto’s waterfront at 215 Lake Shore Boulevard East but an offer from Chinese real estate Greenland Group (Canada) turned out to be too good to turn down.

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Vancouver industrial space a bottleneck for Canada

Metro Vancouver commuters and transporters are enjoying new and improved bridges and roads, but a severe shortage of industrial space to lease or buy continues to bottleneck the movement of goods and people, say local stakeholders and experts. The current industrial vacancy rate is 2-3% said Lee Hester a SVP with JLL in Vancouver.

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Retail plaza sales fuel ReDev growth plans

ReDev Properties Ltd. has closed its second sale of an Edmonton retail plaza to an undisclosed Western Canadian private development firm in two months. “We were approached by the same purchaser and we made it a bundle for them,” ReDev president Richard Crenian said of the recent sales.

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PROREIT closing in on deals

PRO Real Estate Investment Trust (PROREIT) has completed a $29-million equity offering and is using some of that money to acquire 11 Canadian commercial properties for $58.3 million.

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TOBY winner profile: Toronto-Dominion Centre

The 23rd floor of the TD Bank Tower in the Toronto-Dominion Centre became the first WELL Gold-certified space in the world in May, and the 4.3-million-square-foot complex added another honour to its growing list of awards early this fall.

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CRE industry must make more use of data

The commercial real estate industry can do a much better job of utilizing technology, data and analytics, and companies that don’t embrace them risk falling behind both indirect and direct competitors that maximize their use.

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The healing circle comes to Ontario’s Assessment Review Board

It’s possible that the single largest source of conflict between taxpayers and government is assessment for property taxes. Challenging a property assessment that you consider unfair has traditionally been a confrontational process, but it doesn’t have to be. Nor should it.

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Six months ago: REALpac coalition takes on Toronto City Hall

REALpac and the real estate sector swiftly reacted to the news the City of Toronto faces a budget shortfall of nearly $500 million in 2017 by forming a coalition with a singular message: don’t expect the commercial real estate sector to pay the freight again. That’s something of an oversimplification.

Property Biz Canada

One year ago: Morguard ‘stabilizing’ shareholder for Temple: CEO

For the past few months, Morguard Corp. has been on something of a buying spree, scooping up shares of embattled Temple Hotels Inc. In its latest announcement, the Mississauga, Ont.-based real estate giant said it acquired 18.3 million common shares for $20 million, raising its stake in the company, to a total of 24.4% of Temple’s issued and outstanding common shares.

Property Biz Canada

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