Greybrook enters Quebec, partners on major developments

Greybrook enters Quebec, partners on major developments

Greybrook Realty Partners is expanding its Canadian presence outside the GTA and Southern Ontario by buying and renovating multi-unit residential buildings in Montreal. It’s one of several initiatives on the go by Greybrook and parent company Greybrook Capital, which also plans investments in several major Canadian and U.S. developments as well as an IPO for one of its health entities.

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Allied, RioCan announce two major office tenants at The Well

Allied Properties REIT and RioCan REIT have announced two office tenants at The Well in downtown Toronto, including global advertising marketplace firm Index Exchange. The two leases comprise about 30 per cent of million square feet of office space in the multi-building, mixed-use development at Spadina Avenue and Front Street West.

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Ivanhoé invests $55M in Mic Mac Mall renovation

Mic Mac Mall will bring life to its former Target store as part of Ivanhoé Cambridge’s $55-million revitalization of the Halifax-Dartmouth shopping centre. “The retail industry is a competitive market, and the same goes for Halifax and Atlantic Canada,” said Mic Mac Mall general manager Tamitha Oakley.

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WPT, CPPIB, AIMCo form $1B JV to buy U.S. industrial

WPT Industrial REIT, Canada Pension Plan Investment Board and Alberta Investment Management Corporation have formed a joint venture to acquire up to $1 billion in industrial properties in U.S. logistics markets through a “value-add and development investment strategy”. CPPIB and AIMCo will each own a 45 per cent interest in the venture and WPT 10 per cent.

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Windmill chosen to develop Guelph’s Baker District

Windmill Development Group will partner with the City of Guelph, Ont. on the planning, design and development of the Baker District. “We’re very excited about it,” said Windmill partner Alex Speigel. “It’s quite a large project of about two city blocks in downtown Guelph.” The development team includes Diamond Schmitt Architects, urban design firm DTAH, and Urban Equation Corporation.

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AIMCo to redevelop Edmonton’s HSBC Bank Place

Faced with stiff competition for tenants from ICE District and other new office developments in downtown Edmonton, the Alberta Investment Management Corporation says it will redevelop its HSBC Bank Place Tower in the downtown business sector. The renovations will upgrade HSBC Bank Place from a class-A building to class-AA. AIMCo says.

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Saskatoon industrial market in recovery mode

These are rare times when what appears to be a negative economic indicator is actually a necessary, painful step on the road to recovery; a time when a story can be framed negatively or positively when viewed through the lens of reality.

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Six months ago: Calgary Co-op launches $2B development campaign

Calgary Co-op, one of the largest retail cooperatives in North America, has embarked on an ambitious $2 billion-plus capital investment campaign to expand the grocery chain’s operations. The company, with more than 460,000 members, 3,850 employees, assets of $565 million and annual sales of just over $1 billion, has proposed a major investment program in Calgary to expand its retail operations and create mixed-use developments.

Property Biz Canada

One year ago: Winnipeg office market quietly thriving

With so much positive activity happening on the office front in Toronto and Vancouver, and generally less positive news coming out of Calgary and Edmonton, it can be easy to overlook what’s happening in cities like Winnipeg. However, Cushman & Wakefield’s new global office forecast reveals that Manitoba’s capital ranks surprisingly high in certain categories on a worldwide scale.

Property Biz Canada

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