Record year for growth as Killam buys 4 apt. properties

RENX  Residential  •  Apartments  •  National, Edmonton, Atlantic Canada

Acquisitions and the completion of three developments have added 1,601 apartments to Killam Apartment REIT’s (KMP-UN-T) portfolio in 2021, a record year for the trust. CEO Philip Fraser made the comment as Killam revealed four apartment building acquisitions in its Q3 2021 financials.

Decathlon’s new-concept store, robot fulfillment centre

RENX  Commercial  •  Industrial, Retail  •  National, Calgary

At its newest store in Calgary, sporting goods retailer Decathlon Canada may be setting the trend for how warehouse and fulfillment space will look for other Canadian retailers. The new Southcentre Mall store comprises 63,000 square feet, including an automated warehouse.

Van.’s Broadway corridor plan calls for increased density

Residential  •  Globe and Mail

A bold new plan for Vancouver’s Broadway corridor is suggesting towers of up to 40 storeys on key spots as part of a dramatic increase in density. The proposal would require about 70 per cent of new housing to be private rentals.

Oxford plans to add apartments to three GTA malls

Residential, Commercial  •  Bloomberg  •  Toronto Star

Oxford Properties Group plans to add rental apartment towers at Yorkdale Shopping Centre, Square One Mall and Scarborough Town Centre, creating mixed-use neighborhoods inviting renters to live where they shop. “We’re starting to go vertical,” Oxford CEO Michael Turner said.

CentreCourt bringing 52-storey condo to downtown T.O.

Residential  •  Urban Toronto  •  RENX

CentreCourt is bringing a 52-storey residential tower to Toronto’s 252 Church St., right around the corner from Dundas Square. The IBI Group-designed tower will house 679 units, ranging from 300 to 700 square feet with bachelor units, one-bedroom, one-bed-plus-den, two-bedroom and two-bedroom-plus-den suites.

Streamliner proposes 11-, 15-storey infill buildings

Residential  •  Urban Toronto

Streamliner Properties has proposed 11- and 15-storey residential buildings connected via six-storey podiums at 500 Duplex Ave.  in Toronto’s Midtown area. The IBI Group-designed buildings would include 621 residential units comprised of 286 one-bedrooms, 269 two-bedrooms and 66 three-bedrooms.

T.O. office space pulled off sublet market: AY

Commercial  •  Daily Hive

An increasing number of workplaces are pulling their downtown Toronto office space off the sublet market as they get ready to welcome back employees. The space available has fallen from 3.3 million to three million square feet since the beginning of 2021.

Gryd launches consumer-facing parking app

Commercial  •  Canada Newswire

Gryd, a Winnipeg-based tech start-up, has expanded its suite of services for the real-estate industry, creating a consumer-facing parking app that matches drivers searching for parking with unused spots in privately owned parking lots via the GrydPark app.

Ont. mini-budget promises new GTA highways

Commercial  •  Toronto Star  •  Globe and Mail  •  Globe Newswire

In Thursday’s mini-budget, Ontario Finance Minister Peter Bethlenfalvy earmarked $1.6 billion over six years “to support large bridge rehabilitation projects and advance key highway expansion projects, including the Bradford bypass and Highway 413.”

The Industrial Real Estate Show › Podcast: Having the right insurance for your industrial CRE

Chad Griffiths: Partner, NAI Commercial

Real estate podcasts

Residential, Commercial  • 

Ray Wong, Altus Group: Office space in Toronto and Vancouver markets, CRE Podcast
Jennifer Keesmaat, Markee Developments and Rollin Stanley, City of Calgary: Can we break the middle class of their addiction to sprawl?, City Space
Michael Bach, Canadian Centre for Diversity and Inclusion: The marginalization of LGBTQ2S+ people, REALtalk, Episode 29

REIT third-quarter financial results

Residential, Commercial  • 

Dream Office REIT, (D-UN-T), Business Wire
ERES REIT, (ERE-UN-X), Globe Newswire
Killam Apartment REIT, (KMP-UN-T), Canada Newswire

Monmouth to be acquired by ILPT for $4.0B

Commercial  •  Globe Newswire  •  CP Executive  •  Globe Newswire

Monmouth Real Estate Investment Corporation (MNR-N) announced today it has entered into a definitive merger agreement under which Industrial Logistics Properties Trust (ILPT-Q) will acquire all of its outstanding shares in an all-cash transaction valued at approximately $4.0 billion.

Brookfield buying DreamWorks HQ for $327M

Commercial  •  Bisnow  •  The Real Deal

Brookfield is buying the DreamWorks Animation headquarters in Glendale, Calif., for $327 million, sources confirmed. The seven-building property is being sold by Seoul-based Hana Asset Management and Ocean West Capital Partners in El Segundo.

China’s Kaisa, three of its units suspended from trading

Residential, Commercial  •  Globe and Mail  •  CNN

Shenzhen-based home builder Kaisa Group Holdings Ltd and three of its units had their shares suspended from trading on Friday, a day after an affiliate missed a payment to onshore investors as China’s snowballing property debt crisis jolts other developers.

Amazon targets Jersey City for major office expansion

Commercial  •  Bloomberg

Amazon.com Inc. is close to a deal for roughly 400,000 square feet of space on the Jersey City waterfront, according to sources. The e-commerce giant is targeting a building called Harborside 1 at a Mack-Cali Realty Corp. complex.

Airbnb revenue surges as countries open up

Residential  •  Globe and Mail  •  Toronto Star

Airbnb Inc.’s (ABNB-Q) quarterly revenue topped Wall Street expectations and the short-term home rental company said on Thursday a rebound in global travel amid rising vaccination rates in the last three months of the year would drive growth in 2022.

Collapsed Nigerian building had permit for 15 floors, not 21

Residential  •  Daily Commercial News

Authorities in Nigeria have arrested the owner of a high-rise apartment building in the country’s largest city that suddenly collapsed, killing at least 14 people and leaving dozens still missing Tuesday beneath the rubble.

B.C. to bring in cooling-off period for resale properties

Residential  •  Vancouver Sun  •  Saanich News  •  Toronto Star

B.C. will introduce laws to protect consumers in the province’s hot real estate market, including cooling-off periods which are limited amounts of time in which home buyers can change their minds and cancel a purchase with no or diminished legal consequences.

Ottawa-Gatineau affordability reaching record lows

Residential  •  Global News

Home ownership is becoming less and less affordable in the National Capital Region as real estate prices and associated costs rise while average household incomes drop, according to the latest housing market assessment from Desjardins