Cidex buys high-density Calgary redevelopment site

Cidex buys high-density Calgary redevelopment site

Cidex Group of Companies, a real estate developer with several multi-residential projects in Calgary’s downtown area, has purchased a prime high-density development site in the Beltline previously owned by ATCO, RENX has learned. The 1.79-acre site sold for $14.5 million confirmed Kevin Morgans, principal, investment sales for Avison Young, which listed the property.

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H&R REIT makes ‘significant progress’

H&R REIT president and CEO Thomas Hofstedter set out several goals in a February letter to shareholders, including streamlining the REIT’s portfolio and simplifying its capital structure. In the trust’s Q2 2018 report and conference call, H&R reported “significant progress in achieving these objectives.”

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GTA CRE investment ahead of record 2017 pace

Commercial real estate investment in the GTA reached $11.3 billion in the first half of this year, up six per cent from 2017’s record-setting pace according to Altus Group. “There will always be interest in the Toronto marketplace just because of the population, its industries, its financial services, and now being recognized as one of the stronger tech hubs in North America,” said Ray Wong of Altus Group.

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Brookfield to build Toronto’s Bay Adelaide Centre North tower

Brookfield Property Partners L.P. (BPY-UN-T) says it will commence development of the third and final office tower of Bay Adelaide Centre in downtown Toronto. Scotiabank has signed a commitment to lease 420,000 square feet – approximately 51 per cent of the building – for 15 years as the anchor tenant of Bay Adelaide Centre North.

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Fun Sin City facts from a real estate nerd

I just got back from a hot but fun weekend in Las Vegas and of course my commercial real estate brain could not turn off the whole time I was there. The immense size of the development and the energy it must take to run it all caused me to do a little research when taking a break from the distractions of the Strip.

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Six months ago: Ex-CEO Dallaire resigns as chair of Cominar

The transformation of Cominar REIT continued Monday. The trust, in the midst of a major selloff of assets valued at up to $2.6 billion, announced Michel Dallaire has resigned as chairman of its board of trustees, and as trustee. In a release announcing the departure, Cominar said Dallaire is leaving “in order to devote his time and energy on future development projects of the Groupe Dallaire in Québec City.” 

Property Biz Canada

One year ago: C & W buys 20 Vic, expands services in Canada

Cushman & Wakefield’s acquisition of 20 VIC Management puts the company in the asset services and property management business for the first time in Canada, says Chuck Scott, CEO of Cushman & Wakefield Canada. “The asset services business is something that we in Cushman & Wakefield are in in most other geographies around the world, but until now haven’t been in it in Canada,” Scott says.

Property Biz Canada

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