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Multires investors bullish on Quebec's strong rental sector
Multires investors bullish on Quebec's strong rental sector
Despite the presence of several headwinds, out-of-province investors remain bullish on Quebec’s multires properties market, citing continuing demand from renters. Executives from InterRent REIT and Hazelview Investments spoke at the Quebec Apartment Investment Conference about their reasons for optimism.
LKQ to buy Quebec-based Uni-Select for $2.8 billion
U.S. company LKQ Corp. has signed a deal to buy Quebec-based Uni-Select Inc. in an agreement that values the company at about $2.8 billion. The distributor of automotive parts and paints has over 5,200 employees, 15 distribution centres and more than 400 branches.
$1.2B bioethanol plant fully funded, ready for construction
The $1.2-billion Future Energy Park project is now fully funded due to a $545-million partnership announced by Green Impact Partners and Amber Infrastructure Group of London that involves three facilities, including the Calgary project.
 | The People Space CPP names 2 senior execs: moves at Pure, Slate, OMERS...Don WilcoxManaging Editor, RENX |
Calgary office sector is building momentum: AY
Avison Young's Calgary Office Market Report shows Q4 2022 capped one of the strongest leasing environments the Calgary office sector has seen in years. Downtown vacancy declined to 27.2 per cent; overall vacancy to 23.8 per cent.
Ledcor consolidates into Calgary beltline office
Ledcor Construction is relocating to the Calgary Beltline district following 25 years working out of offices in the Mayland Industrial Park area. The company plans to move its 25 office staff into 8,000 square feet in the Keynote tower.
Canada Computers plans Richmond Hill HQ, expansion
Canada Computers & Electronics has plans to open a new 150,000 square foot headquarters in Richmond Hill, Ont. The company has 40 locations across Canada. It is planning to open 20 new locations and modernize its warehouse facility.
Richmond development site centre of $190M mortgage lawsuit
Toronto firm Romspen Investment Corp. is taking B.C. developers to court for more than $191 million over a mortgage for a troubled seven-tower project proposed in Richmond. There has been no “substantive” work done on the project since 2020.
Redevelopment of Hamilton school site includes 1,000 units
New Horizon Development Group has kicked off 2023 with an ambitious redevelopment proposal on the east side of Hamilton that would see the residential conversion of the historic Delta Collegiate Institute (DCI) building, coupled with a site-wide intensification effort.
Sher bringing 11-storey mixed-use to Corktown
The Sher Corporation is bringing PARLIAMENT&CO to Toronto's up-and-coming Corktown neighbourhood. The 11-storey building will include commercial condominiums, residential condominiums, an 11th-storey event space and 3,000 square feet of ground-floor retail space.
Mitchell favours residential and industrial real estate
Dennis Mitchell, CEO of Starlight Capital, says residential real estate remains very robust, driven by demographics and immigration. And, "with industrial real estate, we see continued demand for data centres and cell towers that’s unlikely to change anytime soon."
NYC developers outline challenges in office conversions
Office-to-residential conversion has become the hottest topic in New York development in recent months — but without legislative changes, real estate players say nearly all hoped-for transformations of languishing properties will be dead in the water.
Cushman & Wakefield to manage 8.1 MSF California tech park
Stanford University has tapped Cushman & Wakefield’s Northern California Asset Services team to provide property management services for a 14-building, 1.1 million-square-foot office campus, alongside a 7 million-square-foot triple-net ground lease portfolio in Palo Alto, Calif.
Rebuilding AXA Investment Managers, a $124B CRE giant
“It takes a decade to move a portfolio that was mainly office and retail,” said AXA Investment Managers global head of AXA IM alts Isabelle Scemama, explaining how the Paris-based investor moved into growth sector and plans U.S. expansion.
U.S. homeowners have lost $2.3T in value since June
The total value of U.S. homes was $45.3 trillion at the end of 2022, down 4.9 per cent ($2.3 trillion) from a record high of $47.7 trillion in June, according to a report from Redfin.
Eviction applications spike in Ontario as rents soar
In 2022, the Ontario Landlord and Tenant Board received over 5,550 eviction applications in which landlords sought units for themselves, family members or new buyers. That was an increase of 41 per cent from 2019, according to provincial data.
Condo market rebounds as B.C. lifts rental regulations
British Columbia changed its Strata Property Act legislation in late November so condominium buildings couldn’t implement age and rental restrictions, except for over-55 buildings. For some condominiums, lifting of the restrictions has been a game changer.
Canadian cities with cheapest first-year homeownership costs
Between closing costs, down payments, property taxes, insurance, and monthly mortgage payments, the first year of homeownership, specifically, can get pretty expensive, potentially surprising those who aren’t prepared with some heavy, unexpected financial demands.
Hudson, Built Green partner on green certifications
Burlington-based Hudson Restoration has partnered with Built Green Canada to provide sustainable certifications for homes damaged by natural or mechanical disasters. Hudson Restoration has become the first company in Canada to offer such a program for restorations.
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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