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RioCan enlists Darktrace for cyber security at The Well
RioCan enlists Darktrace for cyber security at The Well
Darktrace, a cyber security company that uses preventative artificial intelligence (AI) to detect threats and protect organizations, is now involved with one of Canada’s most ambitious mixed-use developments: The Well. Darktrace was launched in Cambridge, England in 2013 and director
Fund manager seeks to replace First Capital chair
• Globe and Mail (Sub. required) • Canada Newswire • Canada Newswire
Institutional investors led by Ewing Morris & Co. Investment Partners launched a bid Thursday to replace the chair of shopping mall owner First Capital REIT (FCR-UN-T), the latest in a series of activist campaigns aimed at property companies perceived as underperformers.
Vancouverites go to court over F.N. dev. services deal
• Globe and Mail (Sub. required) • Vancouver Sun • RENX
A Vancouver residents association has launched a legal bid to quash a services agreement between the city and the Squamish Nation for Senakw, the largest Indigenous-led housing and retail development in Canadian history which is slated to include 6,000 rental units.
NOVIA bringing 357 apts, mixed-use to Longueuil
LSR GesDev and Fonds immobilier de solidarité FTQ, have launched NOVIA, which will create 357 rental units – studio, 3½, 4½, 5½ and 6½ units and two-storey townhomes – in Longueuil. Approximately 28,000 square feet of retail and office space will also be developed.
Chard’s three-building Victoria mixed-use proceeds
Victoria council agreed Thursday to move forward with Chard Development’s three-building proposal comprising about 450 units of housing, retail and office space. The proposal includes two 21-storey mixed-use buildings along with a 16-storey rental to be operated by B.C. Housing.
Peak Power turns buildings into virtual power plants
Peak Power, a Toronto-based climate tech company, is pioneering decarbonization software that transforms buildings into ‘virtual power plants’ by converting hours of peak power usage into stored clean energy.
Indigenous-owned hotel opens on Winnipeg reserve
• On-Site Magazine • NetNewsLedger
Long Plain First Nation has opened the Wyndham Garden Winnipeg Airport (Odé Aki) hotel on its Madison urban reserve. The 132-room facility, the first Indigenous-owned hotel in the Wyndham Garden group, is near Polo Park shopping centre.
Equity deals, M&A activity slow sharply in Q3
• Globe and Mail (Sub. required)
Takeover activity and sales of equity and debt, the lifeblood of investment banks and law firms, has dropped sharply year-over-year. Rising interest rates, recession fears and a stock-market sell-off cooled what had been a hot market for deal-making.
Foot traffic steadily rising across Canadian cities
• Globe and Mail • Ottawa Business Journal • RENX
As Canada moves out of the COVID-19 pandemic era, new Avison Young data shows a steady increase in foot traffic across the country, as more people return to the office, shop in-store, head back to class and venture to events.
Loblaw expects e-commerce to grow ‘significantly’
• Globe and Mail (Sub. required) • Canada Newswire
Loblaw Cos. Ltd. (L-T) president Galen G. Weston says he believes a recent pull-back in e-commerce grocery shopping in Canada is temporary and that online ordering for delivery and store pickup will continue to grow “significantly above today’s levels.”
Clearing ports, skilled labour key to supply chain: Report
• Globe and Mail (Sub. required) • Global News • Financial Post
A federal task force says Canada’s transportation supply chain is approaching its “breaking point” and urgent action from both government and industry is needed to keep goods flowing. Priority items include easing congestion at ports and addressing labour shortages.
Real estate podcasts
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Brandon Donnelly, Slate Asset Management: Making development work, CRE Podcast
Rasheq Zarif, ReWyre: Helping future-proof buildings, Tenant Experience Network
Nathan Janzen, Royal Bank of Canada: How labour shortages have impacted the economy, Down to Business
Oxford acquires seven Spanish logistics assets
• Oxford Properties Group media release • IPE Real Assets
Oxford Properties Group announced its first investments in Spain with the acquisition of seven urban logistics assets, via three separate transactions through its portfolio company M7 Real Estate. The assets comprise a total of approximately 968,750 square feet.
San Francisco’s office vacancy rate tops 25%
San Francisco’s office vacancies have climbed to a record and are now more than six times their pre-pandemic level, highlighting the tech hub’s ongoing economic struggles. The city’s office-vacancy rate reached 25.5% at the end of September, according to CBRE Group.
Chicago’s data centre market running out of room
• Bisnow
The Chicago area is riding a wave of data centre development, but a lack of available land appropriate for these projects means data centre builders will have to get creative if the market is to continue to grow.
A rift is emerging among remote and office workers
• Financial Post • Toronto Star
Almost three-quarters of respondents to a GoodHire survey of U.S. workers said companies should pay in-office employees more than their work-from-home colleagues, and two-thirds are concerned that managers view full-time remote workers as lazier.
Wealth gap between homeowners, renters widening quickly
• Globe and Mail (Sub. required)
The wealth gap between homeowners and renters is widening and governments should create policies that improve financial outcomes for long-term tenants, Toronto-Dominion Bank (TD-T) said Wednesday in a report. Residential real estate accounts for a growing share of household assets.
Housing affordability to improve in 2023: Desjardins
As rising interest rates weigh on housing affordability, a new report by Desjardins suggests some relief may be on the horizon. Thursday’s report said housing affordability is set to improve in 2023, though to varying degrees across the country.
High fees, slow approvals hold back new housing: BILD
Delays in municipal building approvals and escalating municipal fees and charges on new homes are making it increasingly difficult to build the housing our region needs, according to a study conducted for the Building Industry and Land Development Association (BILD).
HSBC’s sale could be a setback for mortgage shoppers
• Globe and Mail (Sub. required)
OPINION: Since 2016, HSBC Bank Canada has perennially and openly undercut big banks on mortgage pricing. But now, HSBC Bank Canada confirms it’s looking at a potential sale. And that could leave consumers paying more.
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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