Devimco plans biggest-ever $3B Montreal development

Devimco plans biggest-ever $3B Montreal development

Devimco Immobilier is planning a $3-billion project in the Griffintown area of Montreal, which would be the company’s biggest-ever development. It will be “an extremely exciting” mixed-use project that will surpass the Devimco-created Quartier Dix30 and Solar Uniquartier in size, Devimco president Serge Goulet told RENX.

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Once ignored, Winnipeg’s CRE draws outside investment

Call it a silent boom. While real estate has soared in other major Canadian cities the past several years, Winnipeg has been quietly having a bull market of its own. Only rather than being fueled by a mix of local, national and international investor — often the case in Canada’s largest cities like Vancouver and Toronto — Manitoba’s growth has largely been driven by homegrown money.

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Summit adds five industrial properties in GTA, Calgary

Five warehouse and logistics properties in the Greater Toronto Area and Calgary are about to enter Summit Industrial Income REIT’s ever-growing portfolio. Summit announced the acquisitions in Markham and Burlington, Ont., and in Calgary, on Wednesday. Together, the buildings total 798,673 square feet of gross leasable area.

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PROREIT buys 12 properties, internalizes management

PRO Real Estate Investment Trust will acquire 12 commercial properties in three provinces for $45.1 million, and has bought a Halifax-based property management firm to internalize those functions. The properties are six industrial buildings and development land in Winnipeg, five retail buildings in Quebec and New Brunswick, and the 50 per cent remaining interest in an industrial building in Drummondville, Que.

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Toronto, Yorkdale mall magnets for international retailers

Toronto is a magnet for international retailers setting up their first North American locations and the Yorkdale Shopping Centre has become the destination of choice for many of them. CBRE’s 2018 How Global Is The Business of Retail? Report says Toronto attracted 40 new international retailers in 2017, the most on record for the city and more than double New York City’s 15.

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Northview buys apartment portfolio from Starlight

Northview Apartment Real Estate Investment Trust says it will acquire a 623-unit portfolio of six apartment properties from affiliates of Starlight Group Property Holdings Inc., for $151.8 million. Four of the properties are in Ontario, while the other two are in Halifax.

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Six months ago: Ivanhoe, Manulife unveil Montreal’s Maison Manuvie

Ivanhoé Cambridge and insurance and investment firm Manulife have joined forces to open Maison Manuvie, a new 27-storey office building in downtown Montreal that serves as Manulife’s Quebec headquarters. The $220 million class AAA building at 900 de Maisonneuve Boulevard West is 83 per cent leased at opening with major tenant Manulife occupying more than 260,000 square feet of office space on 11 floors.

Property Biz Canada

One year ago: Changing of the guard at Concert

Brian McCauley has been the heir apparent to succeed David Podmore as president and chief executive officer at Concert Real Estate Corporation for several years, and he said people shouldn’t expect many changes when he assumes his new title on June 2. “I’d like to think that there are opportunities to continue to grow, adapt and modify over time, but I’m fundamentally a huge believer in our core values…” McCauley said.

Property Biz Canada

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