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Triovest acquires industrial land in Markham, Pickering
Triovest acquires industrial land in Markham, Pickering
Triovest and its partners have made two industrial development land acquisitions in the Greater Toronto Area and anticipate closing on additional properties by early January.
CPP to invest over $1B in U.S. JV with Bridge Industrial
CPP Investments will take a 95 per cent stake in a $1.4 billion joint venture with Chicago-based Bridge Industrial to develop industrial properties in core U.S. cities. They will focus on developing industrial assets for long-term ownership.
CRE investment in Canada remains on record pace
Commercial real estate investor sentiment has improved significantly over the past year, particularly over the past six months. As a result, Canada remains on track for a record year in investment volume.
Alberta’s St. Albert to expand by 3,850 acres
Former Sturgeon County land will become part of the City of St. Albert on Jan. 1. St. Albert, just north of Edmonton, seeks to develop the newly annexed 3,850 acres in accordance with the Edmonton Metropolitan Region Board’s growth plan.
Yonge North subway extension may bring new skyline
• blogTO
Like the flurry of new buildings reshaping Eglinton in advance of Toronto’s Crosstown LRT, the upcoming Yonge North subway extension could eventually be surrounded by a new skyline that would replace vast seas of big-box retail and surrounding surface parking.
Rendition proposes Van. industrial/office building
Rendition Developments has submitted a development permit application for a four-storey light industrial and office building in Mount Pleasant. The floor plate of each level of the FRANCL Architecture-designed building would be approximately 10,000 – 12,000 square feet.
Lamb proposes 16-storey mixed-use condo
Lamb Development Corporation submitted a Zoning By-law Amendment application to redevelop an assembly of lots at 39 Camden St. in Toronto’s Fashion District. Lamb proposes an architects—Alliance-designed 16-storey mixed-use condominium with 154 units and 3,918 square feet of commercial space.
Forum to buy $240M of real estate with new impact fund
Toronto-based Forum Equity Partners has launched a $125-million Real Estate Income and Impact Fund which will be used to acquire a $240-million seed portfolio of residential rental real estate across Canada.
Grocery leaders share their outlook for 2022
These remain uncertain times in Canada with rising concerns of a new pandemic variant. With this in mind, Canadian Grocer reached out to a handful of grocery industry leaders and asked them to share their outlooks for the year ahead.
Halifax becoming a Canadian tech hub: CBRE
Halifax’s tech workforce has steadily grown by 24 per cent in the last five years, according to CBRE’s 2021 Scoring Tech Talent report. It ranked the city seventh on a list of 25 emerging tech markets in Canada and the U.S.
B.C. upstart Spark key player in RE software biz
Before he launched Spark RE Technologies, a real estate software firm based in Vancouver, Simeon Garratt couldn’t have lived a more different life. Spark, launched by Garratt in 2012 after he moved to Vancouver from China, now caters to developers in 80 cities.
Allied Hotel shareholders approve plan of arrangement
• PR Newswire • RENX
Allied Hotel Properties Inc. (AHP-X) announced the completion of the statutory plan of arrangement with Allied Holdings Ltd pursuant to Part 9, Division 5 of the Business Corporations Act in which the company has redeemed all its issued and outstanding shares.
Rivian to build $5B EV assembly plant near Atlanta
• Bisnow
Rivian Automotive, a budding rival of Tesla, is launching the largest economic development project in Georgia’s history with a $5 billion electric vehicle assembly plant on nearly 2,000 acres an hour east of downtown Atlanta.
Couche-Tard acquires 21 New Mexico properties
• Toronto Star • Canada Newswire • RENX
Alimentation Couche-Tard Inc. (ATD-A-T) announced today an agreement with Pic Quik under which it has acquired 19 convenience stores and 2 non-operating properties across the state of New Mexico. The assets are owned and operated by Pic Quik.
Brookfield nears mega property sales to Blackstone
• Bloomberg • CP Executive • PR Newswire
Blackstone is in advanced talks to acquire a residential tower in downtown Manhattan from Brookfield Asset Management and Nuveen for $930 million. It’s also nearing the purchase of a 49% stake in One Manhattan West, a trophy office building developed by Brookfield.
China’s magnates lost a combined $46B in 2021
• Bloomberg • Wall Street Journal • Globe and Mail
The richest bosses behind China’s property firms have lost more than $46 billion combined this year, according to the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people. Evergrande Group founder Hui Ka Yan’s wealth alone has plunged by $17.2 billion.
‘Time is now’ to act on home prices: CIBC CEO
• Bloomberg • Globe and Mail (Sub. required)
The Canadian government has the capacity to make housing more affordable and must act now, Canadian Imperial Bank of Commerce chief executive officer Victor Dodig said.
Housing markets continue to defy gravity and pandemic
• Financial Post • CTV
The year isn’t over yet, but housing sales in Canada have already surpassed the total sales registered in 2020, once again proving forecasts of a housing bust to be grossly overstated, if not outright wrong.
Omicron has shifted the outlook for variable rates
• Globe and Mail (Sub. required) • CBC • Global News
The bad dream that is COVID-19 has muddied the mortgage rate outlook again. As Omicron threatens Canada’s recovery, many with variable-rate mortgages now expect – and hope – the Bank of Canada will keep rates lower for longer.
T.O. fintech Ledn launches bitcoin-backed mortgages
• Globe and Mail (Sub. required)
Ledn, a Toronto-based fintech company offering bitcoin-backed loans to crypto-friendly investors, announced it has raised $70 million to launch a bitcoin-backed mortgage product, which Ledn claims is the first such product in Canada.
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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