Allied, Westbank to develop Toronto’s 19 Duncan

Allied, Westbank to develop Toronto’s 19 Duncan

Allied Properties REIT has had a busy couple of days, announcing a major Toronto joint venture with Westbank will proceed, while adding a key downtown property to its portfolio. Allied and Westbank will partner on a multi-use tower incorporating an existing heritage building at 19 Duncan St. Allied also purchased 70 The Esplanade, adding to a portfolio of buildings it owns along that block.

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Slowdown coming in B.C. CRE transactions: Avison Young

The end of 2017 will also likely be the end of an unprecedented five years of commercial real estate sales in British Columbia, an Avison Young report says. There has been a record-smashing amount of investment in the first half of 2017, to the tune of 109 deals worth just under $5.1 billion in B.C, according to the semi-annual report.

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Peer-to-peer leasing disrupts real estate brokers, landlords

Peer-to-peer real estate services that take brokerages and landlords out of the leasing equation are one of the biggest issues facing building owners these days. Regus, WeWork and LiquidSpace are examples of companies that provide flexible office rentals, co-working spaces, meeting rooms and services and fill a gap in the marketplace that more traditional landlords haven’t really catered to.

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Kitchener’s Lot42 transforms steel mill into ‘global flex campus’

An events and office space which has transformed what used to be a heavy industrial site is about to open in Kitchener, Ont. Lot42 is a multi-purpose events facility on the site of a former steel mill. It’s nearing the end of a 10-month conversion which its owners say is creating a “global flex campus.”

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CIM starts work on Markham’s Mackenzie Creek

CIM International Group Inc., and its partners have begun site preparation for the Mackenzie Creek development in Markham, Ont., which will contain 195 townhomes at full build-out. Averton Homes is the project manager, while Morrison Financial Mortgage Corporation is providing construction financing.

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Six months ago: Renaissance for RioCan’s Yonge Eglinton Centre

RioCan Real Estate Investment Trust’s 2015 expansion and renovation of midtown Toronto’s Yonge Eglinton Centre is still paying dividends. The office component of the mixed-use centre includes 754,068 square feet of space in two towers.

Property Biz Canada

One year ago: GTA boom behind new Fiera Properties fund

Fiera Properties Ltd. is launching a new, five-year closed end investment fund designed to capitalize on the rapid and seemingly unstoppable growth of the Greater Toronto Area. The firm’s new GTA Opportunity Fund, currently with committed capital of $55 million after its first closing in July 2016 is currently raising additional investor capital for its second closing, scheduled for late 2016.

Property Biz Canada

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