Dream to break ground at Calgary’s Providence in 2020

Dream to break ground at Calgary’s Providence in 2020

A massive Providence residential project in southwest Calgary intends to pioneer a generation of new suburban communities in the city and usher in a new era of community development. Real estate developer Dream has 1,650 acres of land in the sprawling community that will eventually house more than 33,000 people.

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Concert buys False Creek Flats office building

Concert has purchased the newly constructed 468 Terminal Ave., office building in Vancouver, an asset which company president and CEO Brian McCauley calls an “exceptional acquisition.” Purchased by Concert’s CREC Commercial Fund LP, 468 Terminal Avenue is located in the rapidly-growing and highly coveted False Creek Flats neighbourhood.

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John O’Neill succeeds Rob O’Neill as CEO of AHIP REIT

Vancouver-based American Hotel Income Properties REIT announced Wednesday morning the appointment of John O’Neill as its new CEO. John will succeed his older brother, Rob O’Neill, on October 1. Rob will retire from the CEO’s post, but will remain on its board of directors.

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Microsoft moving Canadian HQ to Toronto’s CIBC Square

Microsoft Canada announced Tuesday a series of major investments across Canada, including moving its Canadian HQ to a brand new CIBC Square office tower when it opens in 2020 in downtown Toronto. Microsoft will occupy 132,000 square feet over four floors at the project, under construction at 81 Bay Street by developers Ivanhoé Cambridge and Hines.

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Survey shows what renters want and will pay for

“We are getting into an affordability squeeze, so it’s important that owners and builders of properties focus on spending their money on the stuff that really matters.” That’s how Amy Erixon of Avison Young introduced her presentation on the 2018 Canadian Multi-Res Tenant Rental Survey.

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Want more from city hall? Then pay up

It’s that time of year when many of us follow the ups and downs of gas prices following the summer driving season. Maybe you’re the sort to rush out of your way to the gas station that’s a few cents a litre cheaper. But in the end, how much does this really save you? Likely not enough for a cup of coffee. The impact is more psychological than practical.

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Six months ago: CPPIB real estate assets top $42.8B in 2017

Net assets for the Canada Pension Plan Investment Board (CPPIB) have grown to $337.1 billion Cdn after a very busy year of real estate activity which now comprises 12.7 per cent of the total portfolio or $42.8 billion. Real assets, which combine commercial real estate, infrastructure and agricultural land, reached $75.3 billion and 22.3 per cent of the total CPP Fund at the end of 2017.

Property Biz Canada

One year ago: Q Management buys multi-res in Hamilton, London

Q Management LP (QMLP) has entered into agreements to acquire 2,019 suites at 24 properties in Hamilton and London, Ont., giving it the critical mass it desires in both cities. “Our strategy is to buy very well-located assets in markets that are growing and strengthening, and to enhance the assets by spending targeted capital expenditures,” said QMLP president and chief executive officer Dan Argiros.

Property Biz Canada

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