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Centurion buys 534-unit apt. project, grows Ottawa-Gatineau portfolio
Centurion buys 534-unit apt. project, grows Gatineau portfolio
Centurion Apartment REIT is poised to acquire the first phase of the NOX multiresidential apartment development in Gatineau, Que., a project which when built-out will deliver 534 new housing units to the National Capital Region.
Forager acquires land, builds new ind. facility in SW Ontario
A 165,000-square-foot logistics and warehousing facility slated for completion in 2024 is proof recent headwinds, namely rising interest rates and a looming recession, can do little to quell momentum in Southwestern Ontario’s white-hot industrial real estate sector.
Calgary tech market still focused on growth
Calgary remains the star of Alberta’s tech sector, but a sharp drop in venture capital investment is keeping cost-conscious startups focused on low-cost space options. Local tech companies are being more cautious about lease commitments.
NexLiving to acquire Northpoint Mgmt., properties
NexLiving Communities (NXLV-X) announced today it has an agreement to acquire Northpoint Management from Sheaco Holdings for $39.6 million. NexLiving had previously announced an agreement to acquire two new Northpoint multiresidential buildings in Moncton.
Some investors exiting Toronto's condo market
"Preconstruction condos for the most part that were purchased in 2019 through 2020, after commissions, after fees, those individuals are not making any profits on this side. They're probably actually taking the loss," said Jordon Scrinko, CEO of Precondo.
Ontario won’t allow homes to be built on floodplains: Ford
Ontario has no plans to allow homes to be built on floodplains, Premier Doug Ford said Friday after the federal environment minister warned Ottawa would not provide disaster compensation where development is greenlit in areas prone to flooding.
Clearbrook proposes 36-storey mixed-use in Mississauga
Clearbrook Development Ltd. proposes a 36-storey mixed-use building at 3115 Hurontario St. in of Mississauga. The Sweeny&Co Architects-designed tower would include 431 residential units and 2,102 square feet of commercial space.
‘ESG is very much here to stay’: GPM panel
Panelists at Toronto's Global Property Markets conference waved away negativity surrounding ESG. Moderator Rebekah Tobias, managing director of investor relations and business development at MARCOL, declared: “ESG is very much here to stay.”
Resurrected Bentley changes stores, plots growth
Bentley & Co.’s predecessor, Bentley Leathers Inc., filed for bankruptcy protection in late 2019. It then began cutting its store count, overhauling its online platform, upgrading its warehouse and distribution network and slashing the brands and styles it sells.
Super C opens 101st store
Super C opened the doors to its newest store on Thursday after several months of construction. The 35,000-square-foot store in Beauharnois, Que., is the discount grocer’s 101st, and represents a $9.5-million investment.
Grocery industry making progress on code of conduct
Industry players say there has been “remarkable” headway toward a self-regulatory code of conduct for Canada’s grocery sector, but a key aspect is still a work in progress: a mechanism for enforcing the rules and arbitrating disputes.
KingSett acquires 165,000 MCAN Mortgage shares
KingSett Canadian Real Estate Income Fund LP announced it acquired 165,000 common shares of MCAN Mortgage Corporation, representing approximately 0.5% of the outstanding common shares, at a price of $16.61 each for an aggregate purchase price of $2,740,650.00.
Brookfield sets share ratio for asset mgmt. spinoff
Brookfield Asset Management Inc. (BAM-A-T) and Brookfield Asset Management Reinsurance Partners CL A Exchangeable (BAMR-T) will spin off its asset management business to shareholders at a ratio of 1 share of Spinco for every 4 Class A shares.
Big U.S. hotel deals overshadow market concerns
Hotel investors are slowing down sales as recession concerns continue, but some headline-grabbing deals including Brookfield Asset Management's acquisition of Watermark Lodging Trust are warping the perception — and the data — of the market.
Twin Cities office towers head to auction
Downtown Minneapolis' 30-storey LaSalle Plaza is scheduled for auction after the Teachers’ Retirement System of the State of Illinois avoided foreclosure by transferring the building to lender Northwest Mutual. Nearby Fifth Street Towers is facing the same fate.
U.S. CRE investment down 19% Y-0-Y
The U.S. commercial real estate market is in a slump, with investment sales down during Q3 2022 compared with both the previous quarter and a year earlier, according to a new report by Colliers.
Vancouver home sales down 53% Y-O-Y: REBGV
The Real Estate Board of Greater Vancouver says the typically slow conditions it sees in November were even more sluggish last month as home sales dropped 53 per cent from a year ago and 15 per cent from October.
Forty-year amortizations among lenders' emergency tools
Lenders and mortgage insurance providers are using emergency loan-modification options that will allow some struggling homeowners to extend their amortization periods to as long as 40 years, or reduce or defer payments, as mortgage payments soar along with interest rates.
National Bank ends ability to transfer mortgages
National Bank of Canada no longer allows customers to transfer existing mortgages after purchasing new properties, meaning clients hoping to move to new homes can’t hold on to low interest rates locked in before the recent surge in borrowing costs.
Home inspections rebound amid slower housing market
Home inspections are making a comeback as buyers take advantage of a slow real estate market to make sure their dream home isn’t a disaster in disguise. During the pandemic, frantic buyers were forgoing all conditions to win bidding wars.
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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