Poetry Living breaks into high-rise sector at CityPointe

RENX  Residential  •  Retail, Condominiums, Homes  •  Ontario, Toronto / GTA

As occupancy begins for 270 Poetry Living and TACC Developments low-rise homes at CityPointe Commons in the Greater Toronto Area city of Brampton, sales are about to begin for the high-rise component of the community.

StorageVault to buy 7 Ont., Alta. properties for $171.6M

RENX  Commercial  •  Industrial  •  Ontario, Toronto / GTA, Alberta

Toronto-based StorageVault Canada Inc. (SVI-T) says it has agreements to acquire seven storage locations from seven vendor groups in Ontario and Alberta for $171.6 million.

Sandpiper ruffles feathers with aggressive takeovers

Residential, Commercial  •  Financial Post  •  RENX

When COVID-19 upended the global property market two years ago, few companies seemed as poorly positioned for the new normal as Artis REIT (AX-UN-T). However, Samir Manji, an activist investor who runs Vancouver-based Sandpiper Group, saw an opportunity.

Manulife invests in real estate in hedge against inflation

Commercial  •  Financial Post

In a hedge against inflation, Toronto-based Manulife Financial Corp. (MFC-T) has invested in real assets such as real estate, infrastructure and timber, which make up the bulk of the firm’s older portfolios, chief executive officer Roy Gori said Wednesday.

Windsor loses out on $2.5B plant due to lack of energy

Commercial  •  CBC

Windsor is losing out on a $2.5-billion plant from Seoul-headquartered LG Chem as the region can’t support the amount of electricity needed for the facility, according to Invest Windsor-Essex CEO Stephen MacKenzie.

Mtl. borough holding public meeting for future dev.

Residential, Commercial  •  Montreal Gazette

The Montreal borough of Pierrefonds-Roxboro will holding a public information meeting on Tuesday “aimed at explaining the process of developing a special urban planning program for the development of St-Charles Blvd.”

Post-secondary schools could help downtown Calgary

Commercial  •  Calgary Herald

A report for the Alberta government into problems confounding downtown Calgary calls for the province to play an active role in finding solutions, such as examining incentives to convert offices into other roles and bringing post-secondary facilities into the area.

Downtown Edm. businesses anxious for recovery

Commercial  •  CBC

With restrictions lifted and office workers now returning to their cubicles, downtown Edmonton business owners are hoping improved profit margins will follow. City data shows 25 business licences in Edmonton’s downtown were cancelled in 2020, while 177 were issued. In 2021, 20 licences were cancelled.

Canadian Tire reports Q1 profit, sales growth

Commercial  •  Toronto Star  •  Bloomberg  •  Canada Newswire

Canadian Tire Corp. Ltd. (CTC-A-T) is using customer data mined through its loyalty program and credit cards to drive sales and counter the potential demand impact of rising prices.

The Industrial Real Estate Show › Podcast: Social media strategies for the industrial real estate industry

Chad Griffiths: Partner, NAI Commercial

REIT first-quarter financial results

Residential, Commercial  • 

American Hotel Income Properties REIT, (HOT-UN-T), PR Newswire
Automotive Properties REIT, (APR-UN-T), Canada Newswire
BSR REIT, (HOM-U-T), Canada Newswire
H&R REIT, (HR-UN-T), Canada Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire
Nexus Industrial REIT, (NXR-UN-T), Globe Newswire
Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire

Real estate podcasts

Residential, Commercial  • 

Arlene Dickinson, Venturepark: The state of entrepreneurship, The Retail Insider Podcast Network

Jennifer O’Connor, Athena Sustainable Materials Institute: Life-cycle assessment, The Construction Record

Tsur Somerville, UBC: Canadians losing faith in housing market, Down to Business

Brookfield spinning off $80B asset mgmt. business

Commercial  •  Globe and Mail (Sub. required)  •  Bisnow  •  Financial Post

Brookfield Asset Management Inc. (BAM-A-T) made it official Thursday, announcing it will spin off a new asset-management business to shareholders by the year’s end, creating a roughly US$80-billion entity that will pay most of the dividends its shareholders now receive.

WeWork’s year-over-year losses narrow sharply

Commercial  •  Bisnow

WeWork (WE-N), which went public in October through a merger with special-purpose acquisition company Yardi Systems, said Thursday its quarterly loss narrowed sharply as membership sales increased and workers returned to the company’s locations.

How big a gamble is Investing in Europe in wartime?

Commercial  •  Bisnow

Is now a good time to invest in Europe, with the risk of global stagnation and an increasingly dangerous war on the doorstep? What risks do U.S. newcomers face?

Canada’s Nobul Technologies makes Texas debut

Residential, Commercial  •  Businesswire  •  RENX

Toronto-based Nobul Technologies a consumer-centric real estate technology company connecting home buyers and sellers to the right real estate agents that meet their needs, has made its marketplace in Dallas, Fort Worth, Houston, Austin, San Antonio, and El Paso.

Interest rates will depend heavily on housing: B of C

Residential  •  Globe and Mail (Sub. required)  •  Financial Post

The Bank of Canada needs to keep raising interest rates to tackle runaway inflation, deputy governor Toni Gravelle said on Thursday – although how high rates go will depend on how the housing market responds to rising borrowing costs.

Borrowers still choosing variable-rate mortgages

Residential  •  Globe and Mail  •  Globe and Mail

Federal rules aimed at taming financial risk in the mortgage market are giving some home buyers an incentive to choose variable rates, despite rapidly climbing interest rates. The bar for variable rates is lower, and loans more likely larger.

T.O. market ‘like a flip of a switch’: Realtor

Residential  •  Toronto Star

It was crazy how quickly the market turned, says realtor Dajan Kumarasamy. He had three or four homes listed in March. One week those houses were drawing 15 to 20 offers. The next week, it was two or three.

Lawsuit alleges price fixing of realtor commissions

Residential  •  Globe and Mail (Sub. required)

As house prices rose to never-before-seen levels in Ontario in recent years, a class-action lawsuit that alleges price fixing in real estate commissions has steadily been churning away in the background.