Oxford invests $110M to revive Les Promenades Gatineau

Oxford invests $110M to revive Les Promenades Gatineau

Oxford Properties Group has injected more than $110 million into Les Promenades Gatineau shopping centre since purchasing the mall in 2012, and the investment is starting to pay dividends. With the recent opening of its HomeSense and Marshalls stores, Les Promenades has added two more major assets.

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Urbacon building second Richmond Hill data centre

Urbacon Data Centre Solutions Inc., has broken ground on Data Centre Two, the second of five it plans to build at the Barker Business Park Digital Campus in Richmond Hill, Ont. “We’ve commenced site servicing with underground installation of storm and sanitary sewers, water and electrical,” said Urbacon’s Peter Russell.

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Tricon sells 14-property Lifestyle Communities portfolio

Tricon Capital Group Inc. (TCN) continues to “simplify” its holdings, announcing Monday an agreement to sell the 14 manufactured housing communities in its Tricon Lifestyle Communities portfolio. Tricon did not identify the purchaser, other to say it is an institutional investor. Financial details were not immediately released.

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Pure Multi-Family says Electra bid undervalues REIT

The board of directors of Pure Multi-Family REIT LP (RUF.U) says it has rejected an acquisition bid by Florida-based Electra America because it believes “the proposals do not fully value Pure Multi-Family’s highly attractive portfolio” and other potential bidders might be willing to offer more money. Pure’s board issued a release Thursday night which outlines three reasons for rejecting the all-cash bid.

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Starlight buys four Vancouver apartment buildings

Starlight Investments has acquired four “landmark” concrete high-rise apartment buildings comprising a total of 456 units in downtown Vancouver and North Vancouver. The acquisition lifts Starlight’s Victoria and Vancouver portfolio to approximately 1700 units in 18 concrete high-rise towers and midrise multi-residential buildings.

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ENERGY STAR building certifications now in Canada

Natural Resources Canada has taken the next step in Canada’s push to promote a low carbon economy, launching its ENERGY STAR certification program for commercial and institutional buildings on March 26. “ENERGY STAR has long been a trusted label to help make smart decisions about energy use,” said Natural Resources Canada spokesperson Catherine Leroux.

Sustainable Biz Canada

Saskatoon’s STC lands acquisition gives city some options

It was made public last week the City of Saskatoon has purchased one of the last properties held by the now-mothballed Saskatchewan Transportation Company (STC). The timing is especially interesting as the city recently commissioned a report regarding the feasibility of a downtown arena. Could this be part of a bigger plan?

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Six months ago: PSPIB, AIMCo JV with Starlight on $1.3B venture

Starlight Investments is partnering with the Public Sector Pension Investment Board and the Alberta Investment Management Corp. on a program to purchase US$1.3 billion of U.S. residential properties. The partnership also made its first purchase, Parkhouse Apartment Homes in Denver, a 465-unit, class-A, garden style, multi-family property.

Property Biz Canada

One year ago: Crombie REIT wants to be multi-family player

Crombie REIT is best known as a retail-focused landlord with 280 commercial properties and an enterprise value of $4.8 billion. Its portfolio largely consists of shopping centres and freestanding stores, but President and CEO Don Clow wants to make better use of many of those properties.

Property Biz Canada

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