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Milestone call for PROREIT: CEO Beckerleg prepares to step down
Milestone call for PROREIT: CEO prepares to step down
Several milestones were noted during PROREIT’s year-end and Q4 2022 results conference call: the REIT topped $1 billion in assets as it hits its 10th anniversary; and it was the last call for president/CEO Jim Beckerleg.
Vancouver Broadway Plan review litmus test for council
GUEST SUBMISSION: One of Vancouver’s key rental districts has a 0.5 per cent vacancy rate – part of our citywide housing affordability crisis. On March 29, council will consider a policy which could slow the “pace of change” in the area.
Fight to change zoning rules looming in Toronto
In the face of a historic housing crisis, city planners and some elected officials have been pitching a consequential shift in the way Toronto can grow. The idea is to allow “gentle” density to crack into traditionally single-house areas.
Toronto laneway temporarily threw wrench into Gupta's plans
Developer Steve Gupta, who proposed to build a 33-storey, mixed-use tower with parking for 33 cars, first had to go to court over a laneway behind 185 King St. E. owned by a man who died 150 years ago.
High interest rates usher in uncertainty in Canada, U.S.
The Bank of Canada may have hit the pause button on interest rate hikes after its latest increase in January, but Canadian construction and real estate analysts remain uncertain when and whether key sectors will regain the strength they had.
Interest rates unexpectedly dropping on five-year mortgages
Following the collapse of Silicon Valley Bank and Signature Bank, government bond yields have tanked, and as a result, mortgage lenders are slashing rates on five-year fixed mortgages by as much as 0.4 of a percentage point.
Foodtastic CEO hungry for more restaurants
Founder/CEO Peter Mammas has turned Foodtastic from a loose collection of Quebec restaurants with $20 million in system sales into a fledgling empire with more than 1,000 restaurants poised to hit $1.2 billion in sales this year.
Ivanhoé reopening Montréal Eaton Centre's ninth floor
Ivanhoé Cambridge announced the ninth floor of the Montreal Eaton Centre will reopen to the public in 2023. The space, classified as a heritage landmark, will include a restaurant and a venue for various shows, exhibitions and private events.
Save-On-Foods to open new store in Richmond, B.C.
Western Canadian grocer Save-On-Foods is opening the doors to its newest location this week in Richmond, B.C.’s Garden City shopping centre. The 20,500-square-foot store is located at 370-9100 Blundell Rd.
Apparel company DUER to expand to 10 stores by year-end
Vancouver-based apparel brand DUER, known for its comfort-driven denim and pants, plans to open five new stores by the end of the year, which would bring the company's store-count to 10 across North America.
QScale, Énergir partner to recover heat at data centres
QScale, a designer and developer of environmentally friendly high-performance computing facilities, has partnered with Énergir Development to maximize waste heat recovery at the Q01 Campus being built in Lévis, Que., and reuse the heat for greenhouses.
Real estate podcasts
Sonny Kalsi, BentallGreenOak: Banking crisis' real estate impact, Bisnow Reports
Daniel Foch, Nick Hill, hosts: How bank failures could impact RE, Real Estate Investor
Paul J. Massey, B6 Real Estate Advisors: A giant in New York CRE, Tenant Experience Network
JPMorgan, Blackstone execs warn of deepening CRE distress
After another increase in the Federal Reserve's benchmark interest rate this week, some of the biggest owners of and lenders to CRE - including Blackstone and J.P. Morgan Asset Management - are sounding the alarm about possible distress.
Bank failures make little dent in Canadian CRE
U.S. bank failures have had little fallout for Canadian commercial landlords listed on the TSX. DBRS Morningstar reports only two issuers count the distressed institutions among their tenants and they occupy a minimal fraction of the affected portfolios for both.
Boston leads U.S. office pipeline
Boston now holds the largest under-construction office supply in the nation, surpassing Manhattan. Backed by a strong university hub, the city is one of the biggest centres for life science and research, bolstering the need for lab office space.
Abraham Trust acquires NYC's Flatiron Building for $190M
The Flatiron Building — the sail-shaped landmark wedged into Manhattan’s grid — has a new owner. In a court-ordered auction Thursday, a low-profile Virginia investment firm named Abraham Trust muscled out the current landlords with a $190 million bid.
Super-wealthy real estate buyers back on the prowl
ANALYSIS: Vancouver’s super-high-end buyers – your centi-millionaire types – appear to be out of hibernation. Despite the foreign buyer ban that went into effect in January, there is an appetite among the über-wealthy for the splashiest of mansions and penthouses.
What's with all the empty pockets of land in Vancouver?
OPINION: In a city like Vancouver, you’d think that every inch of space would be spoken for and maximized. However, there are squares, rectangles, slices, whole blocks of mystifyingly empty land throughout our supposedly high-priced, packed-to-the-gills metropolis.
RESCON supports commitments made in Ont. budget
The Residential Construction Council of Ontario (RESCON) is pleased the provincial government has reiterated its commitment to building 1.5 million homes over the next decade and is taking additional much-needed steps to bolster the skilled trades.
Nova Scotia keeping 5% rent cap until end of 2025
The Nova Scotia government will extend a cap on rent hikes, but it plans to ease the restriction at the end of the year to allow increases of up to five per cent.
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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