Fundamentals solid, expect CRE bull run to continue: CBRE

Fundamentals solid, expect CRE bull run to continue: CBRE

Nine years into a bull run for the Canadian commercial real estate industry, underlying fundamentals remain so strong there’s no end in sight to the market cycle. That is the sentiment expressed in CBRE’s “Canada Market Outlook 2018” report and reiterated by executive vice-president and executive managing director Paul Morassutti during the company’s annual Canadian CRE outlook presentation.

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Kevric breaks ground on Toronto’s 99 Atlantic

A Feb. 28 groundbreaking ceremony marked the launch of Toronto’s 99 Atlantic, the second part of a Kevric Real Estate Corporation project that began with the redevelopment of the now fully leased 40 Hanna. “On this land we’re beginning the construction of a new 145,000-square-foot office building that also includes retail,” said Kevric president Richard Hylands at the groundbreaking.

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Airdrie’s development land poised to fuel Calgary’s growth

The city of Airdrie, just six kilometres north of Calgary’s city limits, is poised to reap the benefits of a growing demand for residential and industrial land in the region. The city has the potential to take advantage and build on the booming growth taking place just a couple of kilometres south in the Balzac area of Rocky View County, which borders Calgary’s northern city boundaries.

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Quebec forum tackles rental housing challenges

An influx of affluent international students in Montreal is providing new opportunities to developers and forcing managers of student housing to up their game, says Jean-Marc Bélanger, vice-president of operations at Cogir Real Estate. He was among the speakers at a session on trends in student housing, seniors housing and mixed-use developments at the recent Quebec Apartment Investment Conference in Montreal.

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Only ‘non-traditional’ approaches will fix socio-economic woes

Ever hear that old line about insanity? It’s defined as doing the same thing over and over again and expecting different results. You could say it applies to how we have handled many of the socio-economic issues facing Canada.

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Six months ago: Cominar REIT to sell all non-core real estate

Cominar REIT will sell its entire real estate portfolio outside of its core markets of the Montreal, Quebec City and Ottawa/Gatineau areas in a bid to reduce debt and improve its balance sheet. The sale of its Toronto, Western Canada and Atlantic Canada assets could easily generate more than their fair market value of $1.2 billion, said Cominar CEO Michel Dallaire. The move comes after DBRS downgraded the credit rating for the REIT’s unsecured debentures from BBB to BB.

Property Biz Canada

One year ago: Durham housing market should stay hot

Home sales and prices in Ontario’s Durham Region rose significantly last year, and early indicators show no reasons for that trend to slow in 2017. The average residential sale price in the region east of Toronto rose by nearly 20 per cent year-over-year in 2016 to $527,285, while sales rose to 11,700 from 10,910 during the January to October period for those respective years.

Property Biz Canada

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