LaSalle grows industrial portfolio with GTA acquisitions

RENX  Commercial  •  Industrial  •  Ontario, Toronto / GTA

The LaSalle Canada Property Fund (LCPF) has acquired a newly constructed, three-building class-A logistics portfolio comprising more than 600,000 square feet in the Greater Toronto Area (GTA) from Carttera.

Greyspring acquires 10 buildings, 412 apts. in Montreal

RENX  Residential  •  Apartments  •  Greater Montreal

Greyspring Apartments has expanded its holdings in Greater Montreal, adding the 412-unit Domaine Choisy community to its portfolio. The complex fronts onto de Choisy Street, and consists of 10 low-rise wood-and-brick buildings in the Saint-Léonard neighbourhood.

Dream Office considers mandatory vaccines

Commercial  •  Globe and Mail (Sub. required)

Dream Office REIT (D-UN-T) is among Canadian companies considering mandatory vaccines. “We are prepared to take the risk to allow the safety of our staff . . . we hope that by Labour Day, there will be more clarity,” said CEO Michael Cooper.

Pandemic strengthens lawyers’ case for remote work

Commercial  •  Globe and Mail

The pandemic has left Canadian lawyers wanting to spend more time working remotely, and with more flexible schedules. According to a recent global survey by Sharplegal of Thomson Reuters Corp., Canadian lawyers would prefer to work two days a week at home on average.

Cranes down at Bay Adelaide Centre’s final tower

Commercial  •  Urban Toronto

At Brookfield Property Partners’ (BPY-UN-T) Bay Adelaide Centre in Toronto’s Financial District, the cranes are down from the third-and-final Scotiabank North Tower, which is at its final height of 32 storeys and gearing up for an early 2022 completion.

ONE, Tricon propose mixed-use towers at Queen St. E.

Residential, Commercial  •  Urban Toronto

ONE Properties proposes a 25-storey mixed-use Graziani + Corazza Architects-designed tower with 446 residential units at 245 Queen St. E. in Toronto. Meanwhile, Tricon Residential has proposed a 33-storey Hariri Pontarini-designed mixed-use including 824 rental units at 261 Queen St. E.

Sponsored by Zora Management Real estate tokenization as the next frontier

George Djuric, Founder of Toronto-based Zora Management, breaks down why tokenization and blockchain technology increases financial inclusion and dramatically improves real estate investing by opening up illiquid asset classes to a broader investor base.

Commercial lot at 579 Yonge listed for $27M

Residential, Commercial  •  blogTO

A 39-by-100-foot corner lot at 579 Yonge, most recently the home of Nick’s Sport Shop, is listed for $27 million. The listing refers to it as an “excellent corner redevelopment opportunity to own a commercial building in the heart of downtown Toronto.”

Labatt invests $69.2M in Edmonton brewery expansion

Commercial  •  Calgary Herald

Labatt Breweries of Canada has put the finishing touches on an Edmonton expansion to add 30,000 square feet of warehouse space and a new  production facility. Of Labatt’s recent $119-million capital investment in Alberta, $69.2 million has gone into the Edmonton brewery.

The Saskatchewan Edge › Your space is a reflection of your business

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Remarkable stability with rent collection: First Capital

Commercial  •  Bloomberg

VIDEO: Adam Paul, president and CEO of First Capital REIT, talks about trends like Canadians leaving urban cores during COVID-19 but he says the same appealing reasons to live in a city haven’t changed so people will return once the pandemic fades.

REIT second-quarter financial results

Residential, Commercial  • 

BTB REIT, (BTB-UN-T), Canada Newswire

CT REIT, (CRT-UN-T), Canada Newswire
Dream Industrial REIT, (DIR-UN-T), Business Wire
Dream Office REIT, (D-UN-T), Business Wire
ERES REIT, (ERE-UN-X), Globe Newswire
Interrent REIT, (IIP-UN-T), Business Wire

John Forrester to replace Brett White as C&W CEO

Commercial  •  Bisnow

Cushman & Wakefield (CWK-N) has named global president John Forrester as its next CEO, effective at the beginning of 2022. The real estate services giant’s current CEO, Brett White, will remain as executive chairman, a position he has held since 2015.

WFH Google employees could take a pay cut

Commercial  •  Vancouver Sun  •  Business In Vancouver

Google employees based in the same office before the pandemic could see different changes in pay if they switch to working from home permanently, with long commuters hit harder, according to a company pay calculator.

Site of collapsed Fla. condo for sale, likely worth $100M

Commercial  •  Bisnow

A Miami judge has ordered that the site where the Champlain Towers South condominium once stood must be sold in order to compensate victims and their families. A broker marketing the site says it will sell for $100M or more.

ESR $5.2B buy of ARA to create No. 3 asset manager

Commercial  •  Financial Post

Hong Kong-headquartered ESR Cayman Ltd. will acquire real estate fund manager ARA Asset Management Ltd. for $5.2 billion, creating the third-largest listed real estate investment manager in the world. The combined entity will have $129 billion in assets under management.

CMHC model questioned after Van. project halted

Residential  •  Globe and Mail  •  Globe and Mail

A small Vancouver non-profit has halted construction of 70 new low-cost apartments in the Downtown Eastside, after the federal Canada Mortgage and Housing Corporation imposed stringent new requirements on a crucial construction loan.

T.O. housing market still too hot for millennials

Residential  •  Financial Post  •  Global News  •  TRNTO Real Estate

Higher prices are putting home ownership further out of reach for millennials. A study out yesterday from Canadian financial services firm Borrowell found that Toronto had the lowest rate of home ownership by millennials in the country.

Ottawa July home sales reflected pre-pandemic norms

Residential  •  Global News  •  CTV  •  Ottawa Business Journal

Ottawa’s housing market showed clear signs of stabilization in July as sales returned closer to pre-pandemic levels. The Ottawa Real Estate Board said its members sold 1,724 residential properties last month, a year-over-year decrease of 21 per cent from the 2,183 units sold.

Westbank launches ‘Car for a condo’ trade-in at Oakridge

Residential  •  urbanYVR

Westbank Corp. is trying a creative approach to help move condos at its 319-unit Oakridge x Lissoni tower, partnering with Dilawri Group to allow people to trade in their cars for a credit toward a condo.