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QMW adds industrial condos to GTA multifamily focus
QMW adds industrial condos to GTA multifamily focus
Toronto-based QMW Corp. was created as a multifamily property owner and manager about five years ago, but two of its latest ventures are taking the firm into the industrial condominium space.
Real estate investors refuse to write down assets
The sudden runup in interest rates has collided with the long tail of a global pandemic that has altered how and where people work, shop and live – all of which is coupled with the threat of an economic downturn.
Ottawa’s mortgage bond proposal draws concerns
Bay Street bond dealers and investors are unsure of a proposed change to Canada’s housing finance system that would transform the $260B Canada Mortgage Bonds market and see the feds financing a significant portion of the country’s mortgage lending.
Fonds FTQ increases stake in Espace Montmorency
Quebec’s Fonds immobilier de solidarité FTQ has increased its stake in the multi-phased Espace Montmorency development in Laval to 50 per cent, taking over a portion of the project formerly owned by Groupe Sélection which is in restructuring proceedings.
Why we’re never going back to the office full time
When hundreds of thousands of tech workers, bankers, lawyers and consultants poured out of Toronto’s downtown and went home in 2020, the exit marked an end to the widespread acceptance that office work has to be (mostly) done in person.
Morguard adding retailers to Colonnade, Renfrew Centre
Joy Emanuele Rabideau, general manager, Toronto Urban Properties, for Morguard Corporation, based in Mississauga, said the company will be adding high-end brands to The Colonnade and to The Holt Renfrew Centre as traffic and office occupancy continues to grow.
BarBurrito plans coast-to-coast expansion
BarBurrito, the largest quick service Tex-Mex restaurant chain in Canada, recently opened its 250th franchise location in Edson, Alta., and then continued right after that with more openings as the brand aggressively rolls out from coast-to-coast.
Kingston moves forward on $33M conference centre
A proposal for a 52,000-square-foot downtown conference centre in Kingston is moving forward as city council seeks developers for the new facility. The cost of construction is estimated between $33 million and $41 million.
SEAN partners with Enbridge Sustain on Barrie development
Green homebuilder SEAN has unveiled the development of a 73-unit townhome and condo community in Barrie, Ont., with a geothermal system for heating and cooling designed, built and operated by Enbridge Sustain.
B.C.'s Royal Oak Golf Course on market for $9.5M
Eight years after the Royal Oak Golf Course in Saanich, B.C., closed, a Saskatchewan-based numbered company has put it on the market for $9.5 million. The majority of the land is within the Agricultural Land Reserve, limiting development options.
U.S. commercial real estate lending is tanking
Sales of CMBS have fallen off a cliff, induced by rising interest, which has reduced lending volume and rattled lenders. Data from Goldman Sachs shows that the total CMBS issuance in Q1 hit the lowest level since 2010.
$1B NYC office loan reportedly lands extension
Aby Rosen’s billion-dollar debt bill on the Seagram Building, his 860,000-square-foot office property on Park Avenue, has reportedly been extended. The loan was due to mature this week — the largest maturing CMBS office loan in New York this year.
$6B Chicago project seeks funds after delay
Developer Sterling Bay is in talks to receive new funding for Chicago’s US$6 billion Lincoln Yards mega mixed-use development. Delays in getting approvals from the city have set the 14-million-square-foot project behind schedule.
TPG, Angelo Gordon merge to create $38B real estate platform
Global alternative asset management firm TPG, which manages US$137B of assets and investments, is buying smaller peer Angelo Gordon for US$2.7B, in a deal that would create a US$38B diversified real estate platform.
Canadian housing starts rise in April, CMHC reports
Canadian housing starts rose 22% in April compared to March as groundbreaking increased on multiple-unit urban homes. The seasonally adjusted annual rate of housing starts was 261,559 units, up from 213,780 in March according to CMHC.
Canadian home sales rise 11.3 per cent in April: CREA
The Canadian Real Estate Association (CREA) says national home sales jumped 11.3 per cent between March and April as the real estate market picked up again. Seasonally-adjusted sales for the month totalled 38,164, compared with 34,277 in March.
Windsor still one of Canada's hottest areas for construction
The Windsor area saw $371M worth of building permits issued in March. Combined with February’s total of $308M, permits worth $679 million have been issued in the past two months, according to Statistics Canada.
Provinces urged to follow Quebec on Airbnb crackdown
The Quebec government tabled a bill last Tuesday that would require short-term rental companies to ensure their listings are certified by the province. If passed, such companies would face fines of up to $100,000 for each illegal rental listing.
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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