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Brookfield Residential keeps its focus on Alberta, Ontario
Brookfield Residential keeps its focus on Alberta, Ontario
Brookfield Residential Properties continues to focus its Canadian operations in the Alberta (Calgary and Edmonton) and Ontario (Greater Toronto Area) markets. Despite challenges in the homebuilding industry, however, Brookfield remains optimistic about Canada's economy and future.
Lion Electric sells new Mirabel facility to BTB for $28M
Saint-Jérôme, Que.,-based electric vehicle manufacturer Lion Electric Company has completed a sale-leaseback transaction with Montreal's BTB Real Estate Investment Trust for its new battery factory in Mirabel, Que., for $28 million.
Curved, $25M footbridge planned at Carbonleo's Royalmount
Developer Carbonleo has unveiled a concept drawing and started site work for an enclosed, gently curving footbridge over Hwy. 15 from its massive Royalmount mega-mall and mixed-use district to the De la Savane Métro station.
Empty office towers show pain rippling through Montreal
Montreal thrived for years as a bustling property market, tech-company hotspot and an artistic center, with new office and condo towers rising like never before. Now the downtown is marked by construction cones, quiet streets and empty buildings.
Melcor REIT sells Kelowna office building for $19.5M
Melcor REIT (MR-UN-T) announced it has completed the sale of Kelowna Business Centre for $19.5 million. The office building includes ground-floor retail with total gross leasable area of 71,600 square feet on a 2.8-acre site.
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Aspen Ridge blames city as Markham condo cancelled
The first Toronto-area condominium project cancellation of the year - the 20-storey Union Margo on 1735 Bur Oak Ave., in Markham - has been registered by Aspen Ridge Homes, an arm of the De Gasperis family group of companies.
First Capital unitholders' meeting set for March 28
First Capital REIT (FCR-UN-T) announced a special meeting of unitholders to be held on March 28, 2023 to address both normal course matters and matters related to the meeting of unitholders requisitioned by Sandpiper Group and Artis REIT (AX-UN-T).
HOPA Ports: Strong season despite supply-chain uncertainty
HOPA Ports saw a total of 11.2 million metric tonnes of cargo through Hamilton and Oshawa’s ports during the 2021 shipping season, up nine per cent year-over-year. A total of 678 vessels visited its two ports during the 2021 season.
Real estate podcasts
David Hoffman, Hines: Leading from the back, People Who Perform
Mike Bonneveld, Skyline Industrial REIT: Industrial investment, CRE Podcast
Don White, Private Pension Partners and Apartment Plus REIT: Launching a private REIT, CRE Podcast
RXR Realty to give worn-out offices 'back to the bank'
Scott Rechler ploughed billions of dollars into Manhattan office properties after the 2008 financial crisis. Now Rechler, the chief executive of property developer RXR Realty LLC, is preparing to surrender some of his offices to lenders.
Vornado writes down value of portfolio by $600M
Vornado Realty Trust expects to take a $600 million impairment charge on its portfolio, $480 million of which is related to its ownership stake in a large portfolio of Times Square and Fifth Avenue retail properties.
New York joins shift of office hubs to residential
New York City, the biggest U.S. commercial real estate market, signaled it's looking to accelerate an effort to shift office-heavy neighbourhoods toward residential space in a move that points to a potential transformation of major American cities post-pandemic.
Kushner says it still wants to buy Veris
Kushner Cos. has accused the board of Veris Residential (VRE-N) of operating without transparency and misleading the public regarding Kushner's push to buy the multifamily operator. Kushner owns more than 4.5 million shares, or about five percent of Veris.
Firm Capital acquires 50% interest in two MHCs for $2.85M
Firm Capital Property Trust (FCD-UN-T) has acquired a 50% interest in Peterborough's manufactured housing community (MHC) SunPark Parkhill Estates for $1.55 million and a 50% interest in Trenton's 58-site SunPark Skyview Estates MHC in for $1.3 million.
GTA average home prices plunge at record rate: TRREB
GTA homes saw the biggest year-over-year price drop on record in January with a 16.4 per cent plunge in the average selling price of houses and condos, the Toronto Regional Real Estate Board (TRREB) reported on Friday.
Preconstruction assignment market sees abrupt down-shift
In the last few years, Capital North Realty's Frank Giralico had been doing a brisk trade in the Greater Toronto Area’s “preconstruction assignment market,” in which investors ante up a down-payment on an as-yet unbuilt condo. No longer.
Single-family houses, multi-family homes
ANALYSIS: City planners should take a moment to consider “hidden density,” affordable rental housing that exists within single detached home neighbourhoods, say housing advocates. Data show this hidden renter density is more than 40 per cent in most Vancouver neighbourhoods.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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