Shindico begins Winnipeg’s mixed-use Westport dev.

RENX  Residential, Commercial  •  Industrial, Office, Retail, Apartments, Hotels and Resorts  •  Winnipeg

The massive mixed-used Westport development by local developer Shindico Realty is a million-square-foot vote of confidence for Winnipeg’s economy, both today and in the future, says its lead developer.

Acquisitions buoy Canadian Net REIT’s Q2 financials

RENX  Commercial  •  Retail  •  National

Canadian Net Real Estate Investment Trust reports year-over-year gains in funds from operations (FFO), FFO per unit and net operating income (NOI) in its second quarter ended June 30.

Pension funds selling off office properties

Commercial  •  Bisnow

Office has long been the preferred real estate asset class for North American pension funds, but its share of investment has rapidly dwindled — office holdings now account for 23% of private real estate funds’ holdings, down 11% from three years ago.

Real estate M&A transaction activity soared in 2021

Residential, Commercial  •  Lexology  •  Lexology

Public M&A transaction activity for Canadian real estate issuers increased in 2021, with three transactions totalling $100.1 billion. That compares to $4.9 billion in 2020 for one transaction, and 2019 activity that saw $10.2 billion of value across six transactions.

PARCLL opens first Canadian facility in Mississauga

Commercial  •  PR Newswire

PARCLL, a leading global e-commerce logistics solutions provider, opened its first Canada-based shipping facility earlier this month. The facility is located just minutes from Pearson International Airport, in Mississauga, near highways 401, 403, 410, 427 and 407.

No slowdown in sight for Halifax industrial: Colliers

Commercial  •  Saltwire  •  RENX

The market for industrial space in Halifax is expected to continue to reach record high levels in Q3 2022, according to Colliers International, which anticipates an increase of 6.1 per cent quarter-over-quarter to $11.39 per square foot, one of Canada’s highest rates.

No fines issued for Ontario developer price hikes

Residential  •  CBC

Nine months after the province pledged to crack down on developers for cancelling housing build contracts or demanding more money from buyers, Ontario’s Home Construction Regulatory Authority (HCRA) has yet to levy any fines for these controversial practices.

Look to invest in residential REITs: Fund manager

Residential  •  Bloomberg

Vacancy rates are already extremely low across Canada and increases in immigration will put more upward pressure on rental prices despite REIT unit prices falling amid rising interest rates, Timelo Investment Management president and portfolio manager JF Tardif said.

Deals reached over purchase of Husky gas stations

Commercial  •  Globe and Mail (Sub. required)

Parkland Corp. (PKI-T) and Federated Co-operatives have signed agreements with the Competition Bureau over their acquisition of 337 Husky retail gas stations. Parkland will sell six retail gas stations in Hamilton, while FCL will sell the Husky station in Gimli, Man.

Northstar wants to recycle N. America’s asphalt shingles

Residential, Commercial  •  Sustainable Biz Canada

Large shareholder invests over $3.6M in Slate Office

Commercial  •  Globe and Mail (Sub. required)  •  RENX

Between Aug. 12-22, Sime Armoyan, with an ownership position exceeding 10 per cent, acquired a total of 800,000 Slate Office REIT (SOT-UN-T) units for Armco Alberta Inc. at an average cost of approximately $4.52. The cost of the purchases was more than $3.6 million.

Real estate podcasts

Residential, Commercial  • 

Jeremiah Shamess, Colliers International: The future of Toronto real estate, CRE Podcast

Josh Berger, Norman Bobrow & Co: What do tenants really want?, Tenant Experience Network

Rohit Gupta, Gupta Group of Companies: Solving complex projects, CRE Podcast

Amazon ups postponed, cancelled warehouses to 49

Commercial  •  Bisnow

Millions of square feet of industrial real estate are on the chopping block amid plans by Amazon to cancel or postpone the opening of 49 warehouses. Nine of the properties were set to open in California.

Dalfen breaks ground on Central Florida project

Commercial  •  Commercial Property Executive  •  PR Newswire

Dalfen Industrial has broken ground on Auburndale Commerce Center, with plans to build two class-A industrial facilities totaling 893,400 square feet in Auburndale, Fla. According to CommercialEdge data, the company acquired the development site in November 2021 for $25.7 million, from Mancini Cos.

Bosa acquires Seattle residential site for $17.5M

Residential  •  The Registry

Vancouver-based investment company Bosa Properties has acquired a 0.61-acre site at 2700 1st Ave. in downtown Seattle’s Belltown neighbourhood for $17.5 million US. The 26,640-square-foot parcel is zoned for residential development up to 267 units.

Nicola acquires Colorado industrial node

Commercial  •  Globe Newswire  •  RENX

Nicola Wealth Real Estate (NWRE) has acquired 3751 Fraser St., in Aurora, Colo., in an established industrial node. The 6.7-acre site includes structures comprising 24,844 square feet with ample yard space supporting the current use as an industrial outside storage (IOS) facility.

GTA average rent up nearly 25% year-over-year

Residential  •  CTV  •  blogTO  •  Financial Post

The GTA August Rent Report 2022, conducted by Bullpen Research & Consulting and TorontoRentals.com, says Toronto rents hit $2,667 per month in July, up from $2,512 in June, and an increase of nearly 25 per cent from $2,142 in July 2021.

A 5-point plan to bring 1.5 million new homes to Ontario

Residential  •  Toronto Star

OPINION: Experts, the industry and governments all agree that Ontario’s current housing crisis — centred on the GTA — is firmly rooted in insufficient housing supply. That’s why Ontario’s home-building industry recently released a five-point plan to advise governments.

More trouble incoming for housing market: BMO

Residential  •  Canadian Mortgage Professional  •  STOREYS

The Canadian housing sector must brace for more turbulent waters ahead, building on the significant deceleration seen over the past few months, according to BMO chief economist Doug Porter, who says the market has essentially entered bear territory.

Housing Summit: Que. municipalities ask for more tools

Residential  •  Les Affaires  •  La Presse

Quebec municipalities want new tools that will allow them to finance projects to try to counter the housing shortage and maintain affordability and accessibility, attendees heard at the Friday’s Housing Summit presented jointly by the municipalities of Longueuil and Laval.