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Groupe Mach president: We're buying Canadian office properties
Groupe Mach president: We're buying Cdn. office properties
Fresh from its acquisition of one of Ottawa’s largest office buildings, Montreal’s Groupe Mach is casting its eye westward to Vancouver and Calgary in its quest to become a coast-to-coast commercial real estate owner and operator.
Groupe Robert to lease new Montoni Laval dist. centre
Groupe Montoni has signed logistics and trucking firm Groupe Robert to lease its new, nearly 300,000-square-foot industrial building at the Centre Corporatif Laval.
Office sector heading for a reckoning
Publicly traded office REITs have seen their values drop precipitously in recent months as a combination of high interest rates and rising vacancies in the wake of the pandemic have sent tremors through the sector.
Developer granted protection; Wpg. mixed-use on hold
The future of a downtown Winnipeg 14-storey mixed-use is uncertain after developer Donmar Properties was granted creditor protection and construction was halted, say court documents. The building was to include 120 apartment units and a 10,000-square-foot restaurant space.
StateView Homes lenders demand to be repaid close to $200M
More lenders of Ontario builder StateView Homes are demanding it repay close to $200 million in loans, casting doubt on its ability to cover its debts, according to new court documents.
Keltic plans Burnaby condo towers
Keltic Development plans to rezone 4.3 acres of prime Burnaby land off the Lougheed Highway in favour of condo towers. The site, purchased by Keltic in early April for $94 million, currently hosts Revs Entertainment Group's Brentwood Lanes.
Metropia's Union City Tower 2 sells over 850 units in six days
On the heels of the sellout success of the first tower of the master-planned community Union City, Metropia announced Tower 2 is now sold out, marking the sellout of the entire first phase in just six days.
Servus Credit Union joins revival of Calgary's downtown
Servus Credit Union has opened a flagship business banking centre and branch in downtown Calgary's Fifth Avenue Place. On the 27th floor, beside its executive offices, Servus has opened a business banking centre staffed by 40 professionals.
HBC to close Kleinfeld Bridal location in flagship T.O. store
Hudson’s Bay is closing its Kleinfeld Bridal location, nearly 10 years after opening the upscale wedding gown salon at its flagship Toronto department store. The bridal salon is the only Kleinfeld location outside of New York.
Global retailer Uniqlo set to open in Chinook Centre
Japanese clothing brand Uniqlo is set to open its first store in Calgary this summer at CF Chinook Centre. The global retailer is moving into a 15,000-square-foot space on the first floor of the mall near Hudson’s Bay.
Enbridge acquires gas storage facility in B.C. for $400M
Canadian pipeline operator Enbridge Inc. (ENB-T) said on Monday it would acquire the Aitken Creek natural gas storage facility in British Columbia from FortisBC Holdings Inc. for $400-million.
U.S. industrial REITs are gaining steam
U.S. industrial REITs have begun to show strength versus other subsectors, with Rexford Industrial Realty (REXR-N), Plymouth Industrial REIT (PLYM-N) and Eastgroup Properties (EGP-N) rising more than five per cent over the past five trading days.
Subway closed hundreds of U.S. sandwich shops in 2022
Subway, which is exploring a potential $10-billion sale, further shrank last year in the United States as franchisees closed 2.7 per cent of the brand’s sandwich shops, squeezing its royalties and fees
Artis REIT's Blaine, Minn., industrial park fully leased
Blaine35, a three-building business park with a combined 317,400 square feet of space, is fully leased, according to CBRE. The business park, developed by Artis REIT, is at 8611, 8700, and 8650 West 35W Service Drive NE in Blaine, Minn.
Oxford, Investa get leasing deal for Sydney's Parkline Place
BDO Australia will lease 65,660 square feet at Parkline Place in Sydney, Australia. Parkline Place, due for completion in 2024, is a public transport over-station development co-owned by Oxford Properties Group, Mitsubishi Estate Asia and managed and delivered by Investa.
2,100 properties reported through T.O.’s vacant homes tax
Just 2,100 properties were declared empty under Toronto’s new vacant homes tax, introduced this year as a measure to nudge investors towards renting or selling unused units. 96 per cent of Toronto residential property owners have submitted declarations.
The collateral damage of empty apartment buildings
ANALYSIS: Housing expert Steve Pomeroy says a big part of the affordable housing crisis is the net loss of affordable units. For every new rental unit built, several more are either demolished or renovated so the landlord can charge more.
Cost of living for some T.O. homeowners soars 58% in a year
Bad news if you want to live in Toronto. LowestRates.ca did a study on how much it costs to live in Canada’s biggest city and based on their calculations, costs for homeowners have skyrocketed 58 per cent since last year.
Kitimat housing market not feeling the LNG love
Despite rosy real estate forecasts when the $18 billion LNG Canada terminal began construction in the northeast B.C. city in 2018, Kitimat housing sales have been falling ever since and hit a six-year low in Q1 2023.
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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