214 Carson Co. builds Ontario industrial development niche

RENX  Commercial  •  Industrial, Land  •  Ontario

Kris Carson’s entrepreneurialism has served him well over the years, and he’s found another successful business with 214 Carson Co., which focuses on mid-sized industrial developments in Southwestern Ontario.

Evraz plans sale of Canadian, U.S. steel facilities

Commercial  •  Globe and Mail  •  CBC  •  Global News

Russian steelmaker Evraz PLC is looking to sell its Canadian and U.S. operations as it struggles with the fallout from Moscow’s invasion of Ukraine. Its facilities serving the oil and gas industry in Alberta and Saskatchewan employ 1,800.

Sierra opens $65M cold storage facility in Hamilton

Commercial  •  Hamilton Spectator

The Sierra Supply Chain Service’s new $65-million cold storage facility opened in Hamilton’s Red Hill Business Park on Aug. 3. The 65-foot-tall facility includes nearly 164,000 square feet of storage space and over 36,000 pallet positions for a total of 250,000 square feet.

Panattoni, Manulife buy 122 acres of Calgary ind. land

RENX  Commercial  •  Industrial, Land  •  Calgary

Edmonton-based Panattoni hasn’t built new assets in Calgary for a few years, but that is about change with its acquisition of a major parcel of southeast development land. It has partnered with Manulife Investment Management for the development.

Marlin Spring Development Fund raises over $80M

Residential  •  Globe Newswire  •  RENX

Marlin Spring, a Toronto-based real estate investment and development firm, announced it is has closed on commitments of over $80 million for its second Development Fund with an additional closing anticipated in the coming months.

Sponsored by Carleton University Real estate development: an interview with Hugh Gorman

The Certificate in Real Estate Development brings together a range of professionals involved in city building including architects, planners, developers, and investors. Hear from Hugh Gorman, real estate development mogul and course instructor in this interview.

Toronto’s Canopy by Hilton hotel hits milestone

Commercial  •  Daily Commercial News

Easton’s Group of Hotels has announced the topping off of its upcoming Canopy by Hilton Toronto Yorkville Hotel and also named November 2022 as the target month for the hotel’s opening.

Holiday Inn owner IHG sweetens shareholder returns

Commercial  •  Globe and Mail (Sub. required)

IHG (IHG-N) announced a $500 million share buyback on Tuesday after half-year profit more than doubled, boosted by higher room prices, strong demand for leisure travel and a recovery in business stays, especially in the United States.

Avison Young unveils roadmap to net-zero by 2040

Commercial  •  Sustainable Biz Canada

Edmonton’s Valley Line Southeast LRT delayed again

Commercial  •  CBC  •  Edmonton Journal  •  Global News

Edmonton’s $1.8-billion Valley Line Southeast LRT will not open by the end of the summer as previously planned after inspectors found cracks in concrete piers, TransEd, the construction company in charge of the project announced Wednesday.

REIT second-quarter financial results

Residential, Commercial  • 

InterRent REIT, (IIP-UN-T), Business Wire
RioCan REIT, (REI-UN-T), Business Wire
Slate Grocery REIT, (SRT-U-T), Business Wire
Slate Office REIT, (SOT-UN-T), Business Wire
True North Commercial REIT, (TNT-UN-T), Canada Newswire

REOC second-quarter financial results

Residential, Commercial  • 

Brookfield Asset Management, (BAM-A-T), Globe Newswire
Dream Unlimited Corp., (DRM-T), Business Wire
Invesque Inc., (IVQ-U-T), Canada Newswire
Timbercreek Financial, (TF-T), Globe Newswire
Tricon Residential, (TCN-T), Business Wire

Brookfield profit declines 39% as rates rise

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

Brookfield Asset Management Inc. (BAM-A-T) CEO Bruce Flatt says the inflationary environment is enhancing the value of its investments, but the company’s second-quarter results show the company is not completely immune from current market conditions.

Brookfield to develop 1.2M-sq.-ft. U.S. campus

Residential, Commercial  •  Commercial Property Executive

Brookfield Properties will develop Rockland Logistics Center, a 1.2 million-square-foot, three-building distribution campus in Suffern, N.Y. The class-A facility is expected to break ground in spring, with completion scheduled for summer 2025.

Barings snaps up $5.45B asset manager Altis

Commercial  •  Financial Review  •  Reuters  •  Pensions&Investments

The founders of Sydney, Australia-based $5.45 billion Cdn real estate platform Altis Property Partners are the latest to benefit from heady M&A activity in the funds management sector, after selling their 14-year-old business to Charlotte, N.C.-based global investment manager Barings.

No merger with C&W in the works: Newmark CEO

Commercial  •  Bisnow

Newmark and Cushman & Wakefield were briefly rumoured to be discussing a merger earlier this year. However, Newmark CEO Barry Gosin threw cold water on any smouldering embers of merger talk on his company’s recent earnings call.

Lutheran church proposes 12-storey mixed-use

Residential, Commercial  •  Urban Toronto

The Agricola Finnish Lutheran Church has proposed a 12-storey mixed-use condominium at 25 Old York Mills Rd. in Toronto’s affluent Hoggs Hollow. The IBI Group-designed building would include 98 residences; one studio, 65 one-bedroom, 22 two-bedroom and 10 three-bedroom apartments.

Fonds, Placements BEAM complete Mtl. apt. building

Residential  •  Canada Newswire

Placements BEAM Sainte-Catherine and the Fonds immobilier de solidarité FTQ announce the completion of Maison Haute Ste-Catherine, a boutique apartment building at 2190 Rue Ste-Catherine Ouest in Shaughnessy Village, a neighbourhood in the Montréal borough of Ville-Marie.

Housing prices could fall nearly 25% by next year: Desjardins

Residential  •  Globe and Mail

Desjardins is forecasting the average home price in Canada will decline by nearly 25 per cent by the end of 2023 from the peak reached in February 2022. Desjardins’ previous forecast predicted a 15 per cent drop over that same time period.

B.C. home sales continue to slow in July

Residential  •  B.C. Real Estate Association media release

The British Columbia Real Estate Association reports 5,572 residential unit sales were recorded by the Multiple Listing Service in July, a year-over-year decrease of 42.4 per cent. The average residential price was $923,449, a 3.6 per cent year-over-year increase.