Vancouver CRE investments rocket toward record

Vancouver CRE investments rocket toward record

The Vancouver region is on the verge of setting a record for overall commercial real estate sales in 2017, according to the latest figures provided by Altus Group. In its Q3 transaction stats, Altus Group showed a third-quarter total of $3.2 billion across 645 investment property sale deals worth more than $1-million.

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Trophy assets dominate Vancouver 2017 sales

As the Vancouver region closes out what is expected to be a record 2017 for commercial property sales, the list of top transactions for the year shows some mega-trophy assets changing hands. Through the first three quarters of 2017, investment sales for the region totalled $10.25 billion, according to Altus Group’s Vancouver Investment Transaction Stats – Q3. Last year set the record with a total of about $12.5 billion in deals, meaning only about $2.2-billion remained to close the gap in the final quarter of this year.

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Glut of hotel rooms about to hit Calgary market

While construction in Calgary’s downtown office market has come to a virtual halt with only one building under construction, activity in the hotels industry is booming. But that presents a problem as more hotel rooms are coming onto the market at a time when the industry has seen declining occupancy rates due to a reduction in business travel.

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Cominar to sell non-core market assets to Slate for $1.14B

UPDATED: Cominar Real Estate Investment Trust (CUF.UN) will sell its entire non-core property portfolio, valued at $1.14 billion, to Slate Asset Management in one of the largest commercial real estate transactions announced in Canada in 2017. Cominar, which announced August 22 its debt plan to divest all its assets in non-core markets as part of a debt reduction plan and intention to focus on its core markets, announced the sale Monday morning.

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Réseau Sélection retirement developments win global awards

Two retirement homes by Quebec developer Réseau Sélection have been named the best in seniors housing in a global awards program. The company won the Most Outstanding Senior Rental Housing of 2017 award for the Sélection Vaudreuil Signature, and Most Outstanding Vertical Retirement Living Project Award for its Sélection Panorama Prestige, at The Globals – Over 50s Housing Healthcare event.

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A ‘Net Zero’ home: What does it really mean?

In Canada, our new homes are already some of the most energy efficient in the world. There has, however, been a lot of discussion about “Net Zero” as it relates to housing, homes, and what it means in terms of building code changes and timing. The answer is complex, but what we do know is that the expected plan from the federal government is to mandate that all new homes must be Net Zero energy ready by 2030.

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Six months ago: Downtown Toronto office market still tight

New office space in downtown Toronto will continue to be hard to come by until the results of the latest major development cycle come to fruition in 2020 at the earliest, according to a new report from Newmark Knight Frank Devencore (NKFD). Nearly 10 million square feet of office space has been delivered to downtown Toronto over the past decade.

Property Biz Canada

One year ago: Angels help new generation of RE developers

A group of angel investors and the Fonds immobilier de solidarité FTQ have teamed up to help create a new generation of real estate developers in Quebec. The deal with investor group Anges Québec “will allow for the emergence of a generation of rising developers and support existing developers who need more liquidity,” says Normand Bélanger, president and CEO of the Fonds immobilier de solidarité FTQ.

Property Biz Canada

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