Starlight finding success with ‘near-urban strategy’

Starlight finding success with ‘near-urban strategy’

Toronto’s Bloor Islington Place has made an impressive turnaround since Starlight Investments acquired it four years ago as part of its “near-urban strategy”. The three-tower, one-million-square-foot office and retail complex on Bloor Street West has direct access to the Islington subway station and is adjacent to a MiWay transit hub.

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Spaces to open three Vancouver locations this year

Creative workspace company Spaces is moving quickly in Vancouver. Before even opening its first Gastown location, the co-working firm has announced plans for two additional locations. The three sites will comprise about 145,000 square feet. “They’re each in very specific micro-markets in Vancouver, all of which have a tremendous need for co-working,” said Spaces executive vice-president Wayne Berger.

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Electra America bids to acquire Pure Multi-Family REIT

Electra America has announced it is attempting to purchase Canadian-based Pure Multi-Family REIT LP (RUF.U). The Florida-based owner and operator of multifamily properties announced it has extended a previously submitted offer to the board of Pure Multi-Family for an all-cash offer of US$7.59 (equivalent to CDN$9.79) per Class A share to acquire all of Pure’s outstanding units.

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Canadian hotel profits, occupancy show promise: CBRE

It’s a good time to own a hotel in Canada, suggests a new hotel investment and operations report from CBRE. The Canadian hotel market remained strong in 2017, buoyed by robust investment and operations performances in Vancouver, Toronto and Montreal, according to CBRE’s 2018 Canadian Hotels Outlook.

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TorQuest announces merger of Amenity, Rubicon pharmacies

Private equity investor TorQuest Partners says its Amenity Holdings Inc., will merge with “complementary retail pharmacy platform” Rubicon Pharmacies Canada Inc. The new entity will operate as Rubicon, owning and operating 101 pharmacies across western Canada. “We are thrilled for the opportunity to bring together two companies with the same mission…” said Michael Wright, CEO of Rubicon.

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With rapid transit expansion, today’s outliers are future darlings

Earlier in the year, I wrote a piece about the draw of the urban core for the kinds of businesses which traditionally flocked to suburban business parks, but what about that big swath of real estate in the middle? It recently made headlines in Ottawa when venerable satellite firm Telesat announced it would give up its home of nearly three decades out toward the eastern ‘burbs in exchange for a pricier downtown address.

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Six months ago: RioCan to sell $2B in property, focus on major markets

 RioCan Real Estate Investment Trust is taking the final major step toward becoming a REIT focused almost solely on Canada’s six largest urban markets. The trust announced Monday it will sell about 100 properties, valued at nearly $2 billion, in secondary markets across the country.

Property Biz Canada

One year ago: ‘Exciting time’ in Montreal, developments worth billions

The orange cones bedeviling Montreal motorists appear to be paying off. Montreal’s real estate community is decidedly buoyant about construction in the city. “This is an exciting time to be a Montrealer,” Mike Jager, director of business development, Montoni Group, said at the Montreal Real Estate Forum. “For the last 40 years, we saw the rest of Canada grow while we stood still.”

Property Biz Canada

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