LaSalle Canada fund buys into Minto Place, Calgary mall

LaSalle Canada fund buys into Minto Place, Calgary mall

The LaSalle Canada Property Fund has grown to a gross asset value of more than $1 billion since its launch in December 2017, and the money is being quickly deployed. The LCPF secured up to $350 million of new capital commitments earlier this month, and has used portions of it to acquire Calgary’s Market at Quarry Park and a 33-per cent interest in Ottawa’s Minto Place.

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Calm, steady hand winning strategy for Melcor

Melcor Developments Ltd., an Alberta-based real estate development and asset management company, has a simple strategic philosophy which has served it well for 95 years. “It really hasn’t changed … When you have a company that’s been around for 95 years you really have to go back to say ‘what’s worked?’ ” said Darin Rayburn, Melcor’s president and CEO.

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RioCan, Boardwalk JV on Calgary Brio apartment project

Calgary-based Boardwalk REIT has partnered with RioCan REIT to build a 162-unit multi-residential rental tower in the Brentwood Village shopping centre in Calgary. The Brio mixed-use development will include a stepped six, 10 and 12-storey high-rise with about 130,000 square feet of rental housing and 10,000 square feet of retail.

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True North buys Richmond Hill, Ont., office property

True North Commercial Real Estate Investment Trust continues to grow its portfolio in the Greater Toronto Area with the acquisition of a 122,000-square-foot office in Richmond Hill. The property, at 6 Staples Ave., is the Canadian head office for Staples Business Depot.

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Hi-tech communication can’t replace in-person meeting

Today’s communication tools include email, voicemail, social media, text and electronic messaging services, video and audio conference calls and more recently, telepresence robots. All of these can be useful, however there are times when they just cannot replace a “belly-to-belly” meeting.

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Six months ago: DevImco to build Montreal metro development

Montreal-based developer Devimco Immobilier says it has been chosen by the City of Longueuil to build a $500-million mixed-use urban living space as part of the city’s downtown Centre-Ville project. The transit-oriented development will cover an area of one million square feet and will be built above the existing Metro station.

Property Biz Canada

One year ago: InterRent, Trinity, PBC JV on Ottawa development

InterRent Real Estate Investment Trust has announced a multi-use “transformational development” in downtown Ottawa at the junction of the city’s two new light rail transit lines. InterRent purchased one-third of the 3.6-acre site at 900 Albert Street for $14.2 million in a joint venture with Trinity Developments and PBC Real Estate Advisors Inc.

Property Biz Canada

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