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After tough 2022, REITs poised for 2023 rebound: Hazelview
After tough 2022, REITS poised for 2023 rebound: Hazelview
Fund managers globally have been left battered and bruised by the triple storm that swept across the economic landscape this year.
NexLiving acquires 299 apts., spends $73.9M in December
NexLiving Communities has announced its second significant acquisition during December, acquiring a two-property portfolio in Saint John, N.B., comprising 149 units plus future development land, for $34.3 million.
Sinclair Centre P3 redevelopment to begin in 2026
Colliers Project Leaders and Ottawa-based project management firm Tiree will provide P3 public-private partnership commercial and procurement advisory services in the federal government's redevelopment of its Sinclair Centre block in downtown Vancouver into a mixed-use redevelopment with substantial office space.
 | The Apartment Building Expert Projecting rents, cap rates and listening to Conrad BlackDerek LoboFounder and CEO , SVN Rock Advisors Inc. |
Foodtastic to buy restaurant chain Freshii for $74.4M
Foodtastic has signed a deal to buy healthy fast food restaurant chain Freshii (FRII-T) for $74.4 million. Foodtastic's brands include Second Cup, Pita Pit, Milestones, Fionn MacCool's, Shoeless Joe's, Au Coq, La Belle et La Boeuf and Monza.
Heli purchases heli-skiing firm, Heather Mountain Lodge
Heli has closed on the purchase of Great Canadian Heli-Skiing and Heather Mountain Lodge, between Golden and Revelstoke, B.C., at the East gate of Glacier National Park. Financial terms were not disclosed.
Not unreasonable for public servants to return to the office
OPINION: In a world where the majority of people and businesses have returned to near pre-pandemic activities, it's puzzling to watch Ottawa’s downtown still full of empty buildings – and struggling businesses – as public servants work from home.
Five trends that shaped real estate in 2022
While 2022 was slated to be another year of transformation, not everything unfolded exactly as expected. The inability of global central banks to quickly tame inflation caught some off guard, as did a deeper rooting of hybrid work patterns.
Ontario government removes 7,400 acres from Greenbelt
The Ontario government issued regulations this week, with no formal announcement, to go ahead with its contentious plans to remove 7,400 acres from the protected Greenbelt, 10 days after public consultations on the proposal ended.
Summit Industrial unitholders OK GIC, Dream takeover
Summit Industrial Income REIT (SMU-UN-T) announced unitholders voted to approve the previously announced plan of arrangement in which GIC and Dream Industrial REIT (DIR-UN-T) will acquire all of the assets and assume all of the liabilities of the REIT.
Kite to provide e-mobility at Brigil's The Dale Ottawa ap'ts
Kite Mobility has partnered with The Dale, a 33-storey rental high-rise in Ottawa, to give residents access to multiple sustainable transportation options including e-scooters, e-bikes and electric vehicles.
Chair invests $403K US in BSR REIT
On Dec. 7, chair of the board Neil Labatte invested over $403,000 US in units of BSR REIT (HOM-DB-U-T). He bought 30,000 units at an average cost per unit of approximately US$13.45.
SEC probes Blackstone, Starwood for limiting withdrawals
Moves by Steve Schwarzman’s Blackstone Group and Barry Sternlicht’s Starwood Capital to limit investor withdrawals from their respective real estate investment trusts amid an uptick in requests has caught the attention of the Securities and Exchange Commission in the U.S.
2022 could be U.S. REITs' second-worst year on record
The office sector has been the biggest drag on real-estate investment trusts in 2022, which is shaping up to be their second-worst year on record, according to Morgan Stanley's REIT outlook.
Beleaguered PREIT delisted from New York Stock Exchange
Philadelphia-based mall owner Pennsylvania REIT (PREIT) has been delisted from the New York Stock Exchange. The exchange took the action because PREIT has been unable to maintain a market cap of more than $15 million.
Cineworld to exit 23 more leases amid bankruptcy process
Cineworld, the parent company of Regal Cinemas, is looking to exit 23 more U.S. movie theatre leases as part of its ongoing bankruptcy process. The London-based firm is asking the court to help it exit a total of 69 locations.
Home price index falls 1.3 per cent in November
Canadian home prices fell 1.3 per cent month-over-month in November, while year-over-year price gains continued to slow, Teranet–National Bank National Composite House Price data showed on Monday. It dropped 0.8 per cent in October.
Ontario, British Columbia headed for a buyer’s market, RBC says
High interest rates will continue to hold back homebuyers into the new year, except in Ontario and British Columbia, largely a result of overshooting earlier in the pandemic, a new report by RBC says.
Vancouver’s real estate outlook isn’t so sunny for sellers
ANALYSIS: A year ago, the outlook for sellers of real estate in the Vancouver area was optimistic, with industry experts foreseeing a continued upward trajectory of home prices after near record-setting sales. The forecast for 2023 is not so cheerful.
Ottawa rental prices jump 18 per cent in 2022
The price to rent a one-bedroom apartment in Ottawa increased by more than 18 per cent this year, slightly more than the national average, according to a new report released by Rentals.ca.
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