Salaries rise fast as CRE firms seek top talent: Hays

RENX  Residential, Commercial  •  Human Resources  •  National, Toronto / GTA

There has been a large increase in salaries for employees in all real estate classes in the Greater Toronto Area as companies struggle to find top talent, says a specialist in real estate recruitment.

Originate, Westdale, Cameron Stephens JV on 2 T.O. towers

RENX  Residential  •  Apartments, Condominiums  •  Toronto / GTA

Originate Developments, Westdale Properties and Cameron Stephens Equity Capital are teaming up to redevelop a former cultural centre into 48- and 55-storey residential towers on Wynford Drive in Toronto.

GTA price dip could be among deepest in 50 years: RBC

Residential  •  CTV  •  Yahoo Finance

A housing correction, which has already led to four consecutive months of price declines in the previously overheated GTA market, could end up becoming “one of the deepest of the past half a century,” says a new report from RBC.

Building during pandemic pays off for SAMM

Commercial  •  Globe and Mail  •  RENX

Two years ago, while Toronto was reeling from the first wave of the pandemic, SAMM Developments kicked off construction of Regal Plaza Corporate Centre, a combined office and hotel building. Construction has reached the second floors on the 11-storey building.

MTY to acquire BBQ Holdings for $200M

Commercial  •  CityNews  •  Canada Newswire

MTY Food Group (MTY-T) will acquire all of the issued and outstanding common shares of BBQ Holdings (BBQ-Q), a franchiser and operator of more than 300 restaurants in the U.S., Canada and the United Arab Emirates. for approximately US$200 million.

Sponsored by Strathmore Summer is snow removal time!

Ironically, summer is a very important time of year for snow and ice management. With the right planning and timing, you can ensure your building receives the best possible service this winter.

Ashland sells Ajax land to Sunray Group for $12.25M

Commercial  •  Globe Newswire

Ashland, Inc. (ASH-N) today announced it has completed the sale of approximately six acres of land located in Ajax, Ont., to Sunray Group of Hotels Inc., a leading real estate developer, in a transaction of $12.25 million.

Montreal dealership group buys Circuit Mont-Tremblant

Commercial  •  PR Newswire

Eighteen months after it was listed on the market, the prestigious Circuit Mont-Tremblant will soon be developed to its full potential. A company owned by Montreal businessman Gad Bitton, president and CEO of Holand Automotive Group, has just acquired it.

Greenway Greenhouse lists surplus asset for sale

Commercial  •  Canada Newswire

Greenway Greenhouse Cannabis Corporation (GWAY-CN) has signed an agreement with a Tier 1 financial institution to facilitate the sale of a surplus asset located in Leamington, Ont. The property is a 10-acre high-tech hydroponic greenhouse leased to Sunrite Greenhouse Ltd.

The Industrial Real Estate Show › Podcast: Investing in multi-tenant industrial real estate

Chad Griffiths: Partner, NAI Commercial

REIT second-quarter financial results

Residential, Commercial  • 

Artis REIT, (AX-UN-T), Canada Newswire
BTB REIT, (BTB-UN-T), Canada Newswire
CT REIT, (CRT-UN-T), Canada Newswire
Dream Industrial REIT, (DIR-UN-T), Business Wire
Dream Impact Trust, (MPCT-UN-T), Business Wire

REOC second-quarter financial results

Residential, Commercial  • 

Brookfield Business Partners, (BBU-UN-T), Globe Newswire
Genesis Land Development Corp. (GDC-T), Canada Newswire
Northview Fund, (NHF-UN-T), Globe Newswire
Parkit Enterprise Inc., (PKT-X), Stockhouse

Vancouver Fraser Port Authority acquitted of conflict

Commercial  •  Business in Vancouver

A Canadian court has issued a decision against terminal operator GCT Canada Ltd. in its accusations that the Vancouver Fraser Port Authority showed a conflict of interest in prioritizing its own expansion project over a rival from GCT.

U.S., Canada target solutions to supply chain snarls

Commercial  •  Edmonton Journal

Supply chain bottlenecks continue to affect North American businesses, consumers and the economy, more than 28 months after the COVID-19 crisis first arrived. The challenges still show up through clogged ports, escalating prices and sparsely stocked shelves for certain in-demand products.

Amazon shrinks workforce by 100,000

Commercial  •  Financial Post

Amazon.com Inc. is the latest company to discuss its belt-tightening efforts. The e-commerce giant said it’s been adding jobs at the slowest rate since 2019. After relying on attrition to winnow its staff, Amazon now has about 100,000 fewer employees quarter-over-quarter.

Property debt bond market imploding in China

Residential, Commercial  •  Bloomberg

When investor demand for Chinese property debt was approaching its peak in 2018, a banker could pull together the makings of a multi-million dollar deal while barely looking up from her drink. Now, the $203 billion market is all but dead.

Trouble in ‘mortgage land’ due to higher rates

Residential  •  Financial Post  •  Globe and Mail  •  Financial Post

The Bank of Canada’s aggressive path of interest rate hikes and the possibility of a recession are ushering in a new economic reality beginning to weigh on mortgage demand, industry watchers say.

Montreal home sales down 18% year-over-year

Residential  •  Toronto Star  •  QPAREB media release

The Quebec Professional Association of Real Estate Brokers says Montreal sales in July fell by 18 per cent year-over-year, with the plexes category alone seeing a 38 per cent drop. Homes with between two and five units plunged from 454 to 281 year-over-year.

Quebec’s nursing homes betting on Green House Project

Residential  •  Globe and Mail

Quebec is in the midst of a drive to transform long-term care. The U.S.-based Green House Project aims to eradicate the indignities of institutional living through smaller-scaled forms of elder care that are designed to accommodate the needs of residents.

Seniors housing decisions could have ripple effects

Residential  •  Financial Post

Seniors were a quarter of Canadian homeowners in 2016. The figure at the time was already up by five per cent from 2006. This trend is also expected to continue, a study from CBRE shows.