Bluebird Self Storage builds, buys to expand portfolio

RENX  Commercial  •  Industrial  •  National

Bluebird Self Storage is capitalizing on growing demand for storage space, building and buying assets to expand its portfolio. Company principal Reade De Curtins said Bluebird plans to grow from its current 28 locations to 50 sites within 24 months

Crown acquires 1.2M-sq.-ft. Mississauga office portfolio

RENX  Commercial  •  Office  •  Toronto / GTA

UPDATED, new quotes, details: Crown Realty Partners has completed the largest acquisition in the firm’s 20-year history, a 1.2-million-square-foot office community in the Heartland Business Community in Mississauga.

Richmond mixed-use developer seeks CCAA protection

Commercial  •  Western Investor

The developer of the mixed-use Atmosphere development in downtown Richmond is seeking protection from creditors. Alderbridge Way LP is seeking protection under the Companies Creditors Arrangement Act. The company faces $346.1 million in obligations, while assets total slightly more than $351.4 million.

Tridel, Bazis planning 57-storey condo tower

Residential  •  blogTO

Tridel and Bazis have proposed to redevelop the site at 60 Queen St. E., with a 57-storey condo tower, dubbed QueenChurch for the intersection it will tower above. The tower will be designed by Rosario Varacalli.

No industrial space relief in Ottawa until 2023: Brokers

Commercial  •  Ottawa Business Journal

Ottawa’s pipeline of new industrial real estate construction is growing as demand for space surges, but most of those projects won’t start easing the supply crunch until at least next year, according to new reports by CBRE and Colliers.

Alta. brownfield site set for industrial redevelopment

Commercial  •  Western Investor

Industrial development can proceed on a 60-acre brownfield site in Southwest Innisfail just south of Red Deer as Alberta authorities have lifted a restriction that prevented redevelopment of the site. Industrial expansion is the cornerstone for Innisfail’s long-term vision.

Alberta downtowns lead as workers return to offices: AY

Commercial  •  Western Investor  •  Financial Post  •  Globe and Mail (Sub. required)

Data from the latest Avison Young Vitality Index shows foot traffic in downtown Edmonton the week of April 4 was 78 per cent of what it was March 2, 2020. That’s the strongest performance among the 23 North American cities in the index.

‘Multiple’ bids submitted for LeBreton Flats: NCC

Residential, Commercial  •  Ottawa Business Journal

With speculation swirling about whether an NHL arena could be coming to Ottawa’s LeBreton Flats, the National Capital Commission said Thursday it has received multiple pitches for a major attraction at the coveted development site west of downtown.

Chard proposes 12-storey Vancouver office building

Commercial  •  urbanYVR

Chard Development is planning a 12-storey office building with ground-floor retail space at 2 East Broadway in Vancouver. The MCMP Architects-designed building would include a fitness centre on the second floor, and amenity terraces on floors seven, nine and the rooftop.

Budget misses mark for Canadian retailers: CFIB

Commercial  •  Retail Insider  •  Retail Insider

The 2022 federal budget, announced on Thursday, was a missed opportunity to help small businesses recover from COVID, says the president and CEO of the Canadian Federation of Independent Business. Dan Kelly said the budget ends all COVID supports.

Starlight Capital to acquire Stone, increases AUM to $1B

Residential, Commercial  •  Globe Newswire

Starlight Investments Capital has entered into an agreement to acquire Stone Investment Group Limited through a series of transactions. Starlight will acquire the 6,464 $1,000 principal amount secured debentures issued by Stone, increasing its assets under management to over $1 billion.

Real estate podcasts

Residential, Commercial  • 

Lauren Haw, Zoocasa: Will Toronto housing bloom in spring?, This Matters

Mark Stewart, Stellantis: Auto sector’s pivot to electric vehicles, Down to Business

Ethan Song, RareCircles: Life after retail, The Retail Insider Podcast Network

QuadReal, GPT double Aussie logistics JV to $1.88B

Commercial  •  IPE Real Assets  •  RENX

Vancouver-headquartered QuadReal Property Group and Australia’s GPT Group have doubled the size of their logistics joint venture to $1.88 billion Cdn. QuadReal, in partnership with Charter Hall Group, is also currently developing a commercial office complex in Brisbane.

Inovalis acquires five-storey Parisian office building

Commercial  •  Business Wire

Inovalis REIT (INO-UN-T) announced it has completed the purchase of the Gaïa office property in Nanterre, a suburb of Paris. The ninth property in the REIT’s Paris portfolio, the Gaïa is a five-storey, 118,400-square-foot building built in 2014.

WWC acquires 250-unit Texas apartment community

Residential  •  Western Wealth Capital media release

Western Wealth Capital has closed on its 125th real estate acquisition – Villas at Chase Oaks Apartment Homes in Plano, Texas. The 250-unit multifamily apartment community was constructed in 1986. The firm’s AUM includes 72 multifamily rental buildings totalling over 17,000 units.

7 World Trade Center lands $458M refinancing

Commercial  •  Commercial Property Executive

Silverstein Properties has secured a $457.5-million loan from Goldman Sachs for the refinancing of 7 World Trade Center in New York City. Executed in green bonds, the refinancing comprises $449.2 million in tax-exempt bonds, and $8.31 million in taxable bonds.

Feds unveil new tax-free home savings account

Residential  •  CBC  •  Toronto Star  •  Toronto Star

The federal government outlined its plans to tackle sky-high housing costs in Thursday’s budget — including a crackdown on speculators, a pledge to double the pace of new home construction and a new tax-sheltered way to save for a home.

Potential homebuyers should stick to renting: Tal

Residential  •  Financial Post  •  Financial Post  •  CTV

Potential homebuyers should think outside the box by renting, says Benjamin Tal, chief economist for the Canadian Imperial Bank of Commerce. There is a stigma around renting versus owning, says Tal, and that stigma worsens as the wage gap increases.

Hamilton listings rise, but down year-over-year: RAHB

Residential  •  Global News  •  Hamilton Spectator  •  Realtors Association of Hamilton-Burlington media release

More property inventory became available for homebuyers in the Hamilton-Burlington area to consider in March. However, they are still experiencing a seller’s market fuelled by high demand and low supply, according to the Realtors Association of Hamilton and Burlington (RAHB).

Metro Van. mayors seek more affordable housing funds

Residential  •  CTV

Metro Vancouver mayors are asking the provincial government for more support to provide affordable housing. Housing Minister David Eby acknowledged there is an “endless appetite” for the provincial and federal governments to provide more support for affordable housing.