Grand Long banks on office with Richmond towers

RENX  Residential, Commercial  •  Office, Retail, Condominiums  •  Metro Vancouver

Developer Grand Long is banking on pent-up demand for mid-market office space now that it’s officially launched a mixed-use residential-office tower, One Park, at 8119 Park Rd. in Richmond, in Greater Vancouver.

Oxford acquires $200M N.C. life science portfolio

RENX  Commercial  •  Industrial, Office  •  International

Oxford Properties is closing in on $5 billion in investments and commitments to the life science sector in 2021. It made its 12th and 13th North American acquisitions, buying Research Commons and a development property in North Carolina for $200M.

Clubhouse gets OK to redevelop Vaughan golf course

Residential, Commercial  •  Toronto Star

Vaughan city council has approved Clubhouse Developments’ 2017 application to redevelop the 290-acre The Country Club golf course. A revised application includes 662 mostly detached homes after axing its original bid to build 616 apartments and a total of 1,215 new homes.

Tech focus of downtown Calgary’s revitalization

Commercial  •  Globe and Mail (Sub. required)  •  RENX

The Edison, the tower which houses start-up Fuelled Family of Companies‘ office, has been held up as a model of what the tech industry could mean for Calgary’s struggling downtown. Its tenants also include MobSquad, Clio, Chata.ai and Entuitive.

Real estate stocks in worst slide since January

Residential, Commercial  •  Bloomberg

Shares of real estate firms are in their longest losing streak since January. The S&P/TSX Composite Real Estate Index fell 1% Friday, its fourth week of losses amid bets of interest-rate hikes at the Bank of Canada and the Federal Reserve.

The Industrial Real Estate Show › Podcast: Supply-chain, logistics and industrial real estate

Chad Griffiths: Partner, NAI Commercial

Cadillac Fairview launches holoportation technology

Commercial  •  Retail Insider  •  Canada Newswire

Cadillac Fairview is launching a unique and innovative holoportation technology PORTL at CF Toronto Eaton Centre, which will bring fashion shows to life during this holiday season. PORTL beams people and places in life-sized, volumetric 4K in real time.

Port Moody nixes proposed $350K micro-condos

Residential  •  Western Investor

A 111-unit Port Moody condo project proposed by developer Bill Laidler will no longer include 57 299-square-foot micro-suites priced from $350,000. Instead, the project has been scaled back to 88 units, of which 38 will be at least 410-square-foot studios.

Diamond, Alterra propose 39-storey condo tower

Residential  •  Urban Toronto

Diamond Corp. and the Alterra Group of Companies have proposed a 39-storey condominium tower at 50 and 64 Merton St., in Midtown Toronto. Overall, approximately 443 residential units are proposed, including a range of one-bedroom (60%), two-bedroom (30%), and three-bedroom (10%) units.

Edmonton Smart Cities plan hailed by proptech experts

Residential, Commercial  •  Daily Commercial News

Panelists at a recent proptech conference made a convincing case Smart Cities are more than the sum of their parts, with Edmonton offered up as a prime example of how an enlightened Smart City policy incorporates a breadth of participants.

End of Couche-Tard special voting rights in spotlight

Commercial  •  Globe and Mail (Sub. required)  •  RENX

The sun will set this week on the special voting rights held by the four founders of Alimentation Couche-Tard Inc. (ATD-A-T), leaving the Canadian convenience store giant more exposed to investor pressure than ever before.

Teachers acquires 50% of U.S. clean energy portfolio

Commercial  •  Sustainable Biz Canada

Ontario Teachers’ Pension Plan Board has announced an agreement with NextEra Energy Resources, LLC, a subsidiary of NextEra Energy, Inc., to acquire a 50 per cent interest in a portfolio of high-quality wind, solar and energy storage assets.

London investors grab San Jose buildings for $780M

Commercial  •  Mercury News

London-based investment company AGC Equity Partners has bought three north San Jose office buildings for nearly $800 million in a deal that marks Silicon Valley’s largest property purchase of 2021. The deal works out to about $1,185 per square foot.

Google says more workers returning to office

Commercial  •  Financial Post

Alphabet Inc’s Google has seen an increasing number of employees coming in to its offices each week, particularly younger workers, the company’s real estate chief said during an interview at the Reuters Next conference on Friday.

China’s Sunshine 100 defaults on $179M in bonds

Residential, Commercial  •  Bloomberg  •  Bloomberg

Chinese developer Sunshine 100 China Holdings Ltd. defaulted on $179 million of debt and interest payments due Sunday as the pain of higher borrowing costs hits indebted companies across the sector. The default will also trigger provisions under some other debt instruments.

Amid crisis, more Chinese developers to issue ABS

Residential, Commercial  •  Globe and Mail  •  Globe and Mail  •  Globe and Mail (Sub. required)

Some of China’s major property developers are planning to issue asset-backed securities in the near term, a further sign that regulators are marginally broadening financial channels for developers amid Evergrande’s debt crisis.

Canada not in midst of housing bubble: Siddall

Residential  •  CTV  •  Bloomberg

Evan Siddall, the former CEO of the Canada Mortgage and Housing Corporation, says the many factors contributing to Canada’s increasingly hot housing market, while notable, aren’t cumulating in a housing bubble.

The hard limits to ‘affordable’ Vancouver rentals

Residential  •  Globe and Mail (Sub. required)

GWL Realty Advisors‘ challenge of building Chronicle, one of the first new rental apartment buildings on Vancouver’s Robson Street in decades was not lost on the 50 business people who attended its launch party a little over a week ago.

Ontario should follow B.C. in quest for affordability

Residential  •  Vancouver Sun

OPINION: While B.C. has been active in discouraging excessive demand through a speculation and vacancy tax introduced in 2018, Ontario has been fumbling along with little more than a watered-down 15 per cent foreign-buyers tax, which targets only the Toronto-Hamilton corridor.

B.C. broker sues FINTRAC over $255K penalty

Residential  •  Vancouver Sun

B.C. real estate broker Pacific Place-Arc Realty has filed a lawsuit against Canada’s money-laundering watchdog after being hit with a $255,000 penalty. Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) alleged Pacific had committed six violations.