Soneil buys Mississauga industrial portfolio, office bldg.

RENX  Commercial  •  Industrial, Office  •  Toronto / GTA

Soneil Investments has closed on two recent acquisitions in Mississauga, a five-property industrial portfolio on nine acres of land at the Dixie and Eglinton intersection, and a 150,000 square foot office complex in the Meadowvale neighbourhood.

eStruxture to grow in Calgary, Montreal, Vancouver

RENX  Commercial  •  Industrial  •  Calgary

eStruxture Data Centers’ recent bet on Calgary as a solid data centre market has paid off and the Montreal-based company is now set to open its second facility in the Alberta city.

CAPREIT to sell Ontario apartment, buys two new builds

Residential  •  Globe Newswire  •  RENX

Canadian Apartment Properties REIT (CAR.UN-T) announced the disposition of a property in East York, built in 1974 and comprised of 253 residential units, for $90.1 million and the purchase of two recently constructed apartment buildings in Laval and Edmonton.

Big investors eye Canada’s home market: ReMax pres.

Residential  •  CBC

While investment firms have become the biggest buyers of U.S. homes, big investors buying single-family homes to rent in Canada is a newer phenomenon. Toronto-based Core Development Group plans to spend $1 billion buying houses in mid-sized Canadian cities.

Choice Properties revises its 2280 Dundas W. proposal

Residential, Commercial  •  Urban Toronto

A revised proposal by Choice Properties REIT has been submitted for its 2280 Dundas West redevelopment, a mixed-use, transit-oriented project with nearly 2,000 dwellings including affordable housing, a grocery store adjacent to the GO rail corridor, and a school.

Lifetime proposes 48-storey condo in midtown Toronto

Residential  •  Urban Toronto

Zoning By-law Amendment and Site Plan Approval applications have been submitted to the City of Toronto by Lifetime Developments, seeking permissions to redevelop 141 Roehampton Avenue with a contemporary residential building designed by Wallman Architects.

HQ Commercial updates Surrey six-building proposal

Residential, Commercial  •  Daily Hive

HQ Commercial‘s new renderings for its proposed six-building redevelopment spanning 6.3 acres and replacing Bristol Estates in Surrey City Centre include five condominium towers of 36, 39, 44, 48 and 52 storeys with a combined 2,017 units. A sixth mid-rise building would contain 185 rental units.

Mall demo clears path for new Fraser Valley town centre

Commercial  •  Western Investor

A shopping mall that once dominated downtown Aldergrove in Langley Township is being demolished for a mixed-use Aldergrove Town Centre. The Janna Group, which purchased the property in 2008, is replacing the old mall with commercial, residential and public services.

PROREIT completes strategic JV with Crestpoint

Residential, Commercial  •  PR Newswire  •  RENX

PRO REIT (PRV.UN-T) has completed its previously announced joint venture with Crestpoint Real Estate Investments Ltd., to own an industrial-focused portfolio of 42 properties located in Atlantic Canada comprised of nearly 3.1 million square feet of gross leasable area.

Canadian Net REIT acquires two properties in N.B, Que.

Commercial  •  Globe Newswire

Canadian Net REIT (NET.UN-X) has acquired two properties, its 100th and 101st properties. The first acquisition is a 4,400-square-foot auto service centre in Fredericton, N.B., and the second is a 53,151-square-foot hardware store in Chateauguay, Que.

Strategies to thrive in the current pre-construction market

Michael Klassen: Partner, Broker of Record, Eleven Eleven RE

U of T receives CIB funding for deep energy retrofits

Commercial  •  Sustainable Biz Canada

The University of Toronto will receive up to $56 million from the Canada Infrastructure Bank to be applied to several deep energy retrofits at the university’s downtown St. George campus.

Calgary office vacancy rates see small improvement

Commercial  •  Calgary Herald

Vacancy rates in Calgary’s downtown continue to improve. A second-quarter report from Jones Lang LaSalle commercial real estate shows vacancy dropped from 29.9 per cent to 29.7 per cent in the second quarter of 2022.

Remote work is over in these U.S. markets

Commercial  •  Bisnow

While businesses continue to wrestle over workplace return policies in the largest U.S. employment hubs, in midsized and small cities where lockdowns were shorter and people drive to work, employees are largely back at their desks full time.

Hilton to expand workforce, not footprint, in new HQ

Commercial  •  Bisnow

Hilton plans to expand the headcount at its Northern Virginia headquarters by more than 40% over the next five years, but it will do so without expanding its office footprint. Hilton Worldwide has occupied the same building in McLean, Va. since 2009.

Turf war heats up between Unreserved and RE industry

Residential  •  CBC

The founder of Ottawa-based Unreserved, who pleaded guilty to fraud charges over fudged car loans in 2009, is back in court. This time he’s a plaintiff accusing three trade associations of trying to damage the reputation of his latest venture.

Properly raises $36M CAD in financing to accelerate growth

Commercial  •  PR Newswire

Properly has closed a $36-million financing round, led by existing partners and others. This brings Properly’s total funding to $192 million, making it the best-funded and fastest-growing Canadian real estate startup.

BC Housing CEO quits, cites anger toward policymakers

Residential  •  Globe and Mail  •  BC Housing announcement

BC Housing CEO Shayne Ramsay, who has led B.C.’s housing agency for 22 years, is resigning. He cites incidents of violence against homeless people, and an increasingly threatening environment for policymakers leaving him questioning whether he can continue to offer solutions.

These 5 charts describe Canada wide rent increases

Residential  •  CBC  •  Edmonton Journal  •  Toronto Star

Many Canadians are finding it harder to obtain housing that fits their budget as rents soar across the country. Rising prices are being driven by higher interest rates cooling off the house-buying market, putting more strain on rentals.

Toronto and Vancouver home prices decline again in July

Residential  •  Globe and Mail  •  Financial Post  •  Toronto Star

Home prices continue to fall in Canada’s two most expensive markets according to regional real estate boards. The typical price of a home in Toronto was $1,157,500 in July, down 13 per cent from the March peak – the largest four-month decline since 2001.