RioCan to sell $2B in property, focus on major markets

RioCan to sell $2B in property, focus on major markets

UPDATE: 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.

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World’s tallest Passive House towers planned in Vancouver

A pair of developers are planning to build the world’s tallest Passive House structure in Vancouver. Landa Global Properties and Asia Standard Americas have submitted a rezoning application for a two-tower rental home and condo development at 1400 Alberni Street in downtown Vancouver.

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Vancouver tech sector needs boost to reach critical mass

Vancouver’s tech market needs more investment, talent and work spaces to reach what a panel of local experts consider a sustainable critical mass. Roughly 150,000 are employed in B.C.’s tech industry, said Kraig Docherty, the director of talent programs at B.C. Tech — an advocacy organization for the region’s technology industry. He was speaking during a panel focused on the future of technology and real estate at the Commercial Real Estate Development Association (NAIOP) in downtown Vancouver.

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Broccolini begins building new Montreal CBC HQ

Construction has begun on the new headquarters for CBC/Radio-Canada in Montreal as part of a mixed-use project that will eventually transform a large segment of the eastern edge of the city’s downtown. The new Maison de Radio-Canada “helps kick off of the redevelopment of the eastern part of downtown Montreal,” says Roger Plamondon, president of Broccolini Real Estate Group, which will build and own the CBC/Radio-Canada Montreal headquarters.

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Carbon tax: Pain can bring opportunity if we’re smart

It’s not going to be smooth sailing cutting our reliance on fossil fuels, but with change comes the incentive to try something new and better. I attended a tax conference last week that featured the federal Liberal’s impending carbon tax on the agenda. The plan is to put a “price on pollution” by imposing a carbon tax of $10 per tonne across Canada, starting next year. This tax will rise each year to $50 a tonne by 2022.

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Six months ago: Starlight buys stake in Mississauga property

Starlight Investments, which has been busy acquiring multi-residential properties of late, switched things up last week with the purchase of a 50 per cent interest in the Mississauga Executive Centre. The 1.15-million-square foot commercial facility is sited on 26 acres at the intersection of Hurontario Street and Burnhamthorpe Road East.

Property Biz Canada

One year ago: CIBC’s Avery a pessimist on Calgary office market

Calgary’s boom and bust office market, which today is decidedly in the latter phase, is not recovering anytime soon, according to Alex Avery, managing director of Institutional Equities at CIBC World Markets. Any bounce back for the province’s oil capital is predicated on a strong crude price recovery, something Avery believes is unlikely.

Property Biz Canada

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