CIBC’s Avery a pessimist on Calgary office market

CIBC’s Avery a pessimist on Calgary office market

Calgary’s boom and bust office market, which today is decidedly in the latter phase, is not recovering anytime soon, according to Alex Avery, managing director of Institutional Equities at CIBC World Markets. Any bounce back for the province’s oil capital is predicated on a strong crude price recovery, something Avery believes is unlikely.

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Pent-up demand filling Vancouver office towers

When Manulife Real Estate unveiled a 16-storey, 250,000-square-foot office tower 980 Howe at the corner of Howe and Nelson Streets in downtown Vancouver last November, they were facing a downtown office leasing market with a 10% vacancy rate, the highest it had been in a decade.

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New ownership for Four Seasons Hotel Toronto

Auto parts and sports magnate Shahid Khan has entered the hotel business by purchasing Four Seasons Hotel Toronto from an affiliate of Kingdom Holding Company (KHC) for $225 million. “The buyer acted very responsibly through the transaction and was very motivated,” said JLL Canada Hotels and Hospitality Group senior vice-president Mark Sparrow

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New acquisition for Automotive Properties REIT

Automotive Properties REIT just acquired the Pfaff Audi property in Vaughan, Ont. and completed a $35-million equity offering that had an over-allotment option picked up, bringing the total value to $40 million.

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Plaza Retail REIT unveils a slate of development projects

Plaza Retail REIT this month announced a $21-million, 14-property slate of development projects in Atlantic Canada, Quebec and Ontario. The projects range from newly acquired ground-up developments, redevelopment and expansion of existing properties that illustrate Plaza’s conservative buy and improve development strategy.

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JLL Canada adds to multi-residential sales team

JLL Canada has hired two executives from a competing brokerage to expand the reach of its growing multi-residential investment sales platform. “Three years ago, JLL did not have a presence in the multi-residential sector,” said president Brett Miller. “We developed a strategy and then built and acquired teams in each major market, the biggest being Vancouver, Montreal, Toronto and Edmonton.”

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Staying true to its character will help Fort McMurray rise from the ashes

Few cities epitomize the word resilience as much as Fort McMurray. Its fortunes have been largely dependent on being able to find innovative ways to get a precious commodity from the ground. Since the 1960’s people with a can-do attitude have been attracted to this borderline subarctic climate because of the great opportunities.

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Access Private Equity (PE) through crowdfunding portals

A 2016 McKinsey Global Institute report suggests the combination of higher interest rates, lower economic growth and weak corporate profits is here to stay – and a portfolio made up only of stocks and bonds will generate lower returns for years to come.

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BOMA Regina hosts BOMEX for the first time

For the first time in its history, BOMEX® came to the Queen City of Regina! From September 20-22nd, BOMA Regina was thrilled to host industry colleagues from across the country, and share a taste of what the city has to offer.

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Compensated cooperation

You didn’t get into the commercial real estate business to lose money. But did you know that the existing business model for commercial real estate may be costing you thousands of dollars in potential commission?

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Six months ago: Firm Capital eyes Delavaco as springboard to U.S.

Real estate and financial services private equity company Firm Capital is setting its sights southward as part of its “workout” of Delavaco Residential Properties Corp., a U.S.-based property developer.  Firm Capital, which purchased an eight per cent stake in Delavaco (DVO.U-X), is now managing the restructuring of the American real estate company after deciding it made more sense to fix the financially troubled outfit than to sell its position. 

Property Biz Canada

One year ago: CT REIT becoming a blue-chip trust

Born after the 2013 “taper tantrum” stock and bond selloff  Canadian Tire’s real estate trust, CT REIT, has proven a model retail property trust – a steady player in a sector known for volatility.  “Yes, I think that is probably accurate,” CT REIT’s president and CEO Ken Silver said of its “blue-chip” status.

Property Biz Canada

	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

 

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