Minto buys 212 acres of West Ottawa dev. land for $245M

RENX  Residential  •  Apartments, Homes, Land  •  Ottawa

Minto Group has acquired 212 acres of draft plan-approved Ottawa land for $245 million from the DelZotto family in what’s believed to be the city’s highest-valued land deal. The plan allows for development of about 2,755 housing units, commercial and retail space.

Denciti buys Victoria-area dev. property, plans condo build

RENX  Residential  •  Retail, Condominiums  •  British Columbia

Two parcels of land totalling almost an acre have been acquired by Denciti Development Corp., in the Greater Victoria township of Esquimalt, where it is planning a six-storey multifamily project.

TWC/Clublink sells Laval golf club to developer for $70M

Commercial  •  Canada Newswire

TWC Enterprises Limited (TWC-T), together with its partner, today announced it has reached an agreement to sell Club de Golf Islesmere in Laval, Que., to a Quebec developer for approximately $70 million. TWC is entitled to approximately 45% of the proceeds.

Panattoni leases new 548K-sq.-ft. Edmonton facility to MTE Logistix

RENX  Commercial  •  Industrial  •  Edmonton

Panattoni Development Canada, in partnership with Manulife Investment Management, has pre-leased 100 per cent of the new Apex Business Park Building 3, a 548,124-square-foot facility and Edmonton’s largest speculative industrial development.

Ottawa’s ‘Block 2’ redesign preserves heritage buildings

Commercial  •  CBC  •  Canada Newswire  •  Globe and Mail (Sub. required)

The upcoming $430-million redesign of an entire block of buildings across Wellington Street from Parliament Hill would bring courtyards, atriums and a new public square to downtown Ottawa while preserving heritage buildings, Public Services and Procurement Canada announced Monday.

Sponsored by MNP Real estate and the 2022 federal budget

A positive update for businesses is there were no changes to the current tax rules on intergenerational business transfers. Amendments introduced through Bill C-208 in 2021 allow parents to succeed their businesses to their children in a tax effective manner.

S. Alberta town to sell 46 acres for industrial dev.

Commercial  •  Western Investor

Continuing its aggressive push for development, the Town of Innisfail just south of Red Deer has set an introductory price of $160,000 per acre for new parcels of industrial land totalling 46 acres at a new provincially approved industrial area.

Canada Post introduces $470M sorting facility

Commercial  •  Canada Newswire  •  Toronto Star

Canada Post haas unveiled its new leading-edge zero-carbon parcel sorting facility that will have the capacity to process more than one million packages a day. The $470-million, 585,000-square-foot Albert Jackson Processing Centre in Scarborough will open in early 2023.

Reinvention of malls accelerates in COVID’s wake

Commercial  •  Globe and Mail

Reports of a “retail apocalypse” don’t tell the whole story about what’s happening in Canadian shopping centres. The truth is more complex, with wins and losses leading to a revolution in retail.

Plaza proposes 49-storey mixed-use tower

Residential, Commercial  •  Urban Toronto

Plaza proposes a triangular-shaped, mixed-use, pedestrian-oriented building which would include 430 residential units – 86 one-bedrooms, 130 one-bedroom-plus-dens, 171 two-bedrooms and 43 three-bedrooms – within a BDP Quadrangle-designed tower that would stand 49 storeys at 307 Lake Shore Blvd. E. in Toronto.

Marlin Spring proposes 22-storey condo building

Residential  •  Urban Toronto  •  RENX

Marlin Spring has proposed a 22-storey IBI Group-designed condo building on a 1.2 acre lot at 5 Cosburn Ave. in Toronto’s East York area. The building would include 376 residential units, 187 parking spaces and 339 long-term and 38 short-term bicycle parking spaces.

REIT first-quarter financial results

Residential, Commercial  • 

CAPREIT, (CAR-UN-T), Globe Newswire
Flagship Communities REIT, (MHC-U-T), Canada Newswire

Brookfield lands anchor tenant for 660 Fifth

Commercial  •  Bisnow  •  Commercial Property Executive

For the first time since Brookfield Properties acquired Manhattan’s 660 Fifth Avenue from Kushner Cos. that had become the centre of unwanted attention for the New Jersey landlord, an office lease has been signed. Macquarie Group has inked a 220,000-square-foot deal.

CPP Investments 10th in global real estate rankings

Residential, Commercial  •  REMI Network

CPP Investments is positioned 10th in IPE Real Assets’ recently released 2022 rankings of global real estate investors. However, with roughly $49 billion in real estate assets under management, it has slipped two notches from eighth-place status in 2021.

New CRE funds bring billions to U.S. market

Commercial  •  Bisnow

It has been a busy week for closing funds aimed at taking advantage of the hotter parts of the U.S. real estate market, with more than $2.5 billion pouring in from investors of every stripe.

Walmart cuts full-year profit forecast

Commercial  •  Globe and Mail (Sub. required)  •  Business Wire

Walmart Inc. (WMT-N) cut its full-year profit forecast on Tuesday, signalling a bigger knock to the retail giant’s profit margins from surging costs of everything from fuel to labour. Shares tumbled 6.5 per cent to $138.51 in premarket trading.

Housing starts drop 38% in Toronto: CMHC

Residential  •  Financial Post

Toronto saw a 38 per cent month-over-month housing start decrease in its seasonally adjusted, annualized pace, falling to 24,605 units in April, according to the Canada Mortgage and Housing Corporation (CMHC). Toronto has struggled to keep up with the immense demand.

GTA real estate approaching ‘buyer’s market’: BMO

Residential  •  Global News  •  Financial Post  •  Globe and Mail

“The GTA sales-listing ratio plunged to just 45 per cent in April, which is suddenly getting into buyer’s market terrain,” chief economist Doug Porter wrote in Tuesday’s BMO snapshot data assessment.

Vancouver aims to avoid the downside of density

Residential  •  Globe and Mail (Sub. required)

OPINION: Vancouver’s draft Broadway Plan is a more detailed plan that will add 50,000 residents to the corridor, and the Vancouver Plan is a high-level, long-term framework for major new density throughout the city.

Alberta Land Titles delays slowing down deals

Residential  •  CBC

Transferring property from one owner to another is taking much longer in Alberta than it used to. The provincial government’s land titles office is currently registering land title documents received on Feb. 4 and survey plans and documents received on March 2.