Skyline Commercial REIT repositions its industrial portfolio

RENX  Commercial  •  Industrial  •  Toronto / GTA, Greater Montreal, Ottawa

A sell-off of properties that no longer fit Skyline Commercial REIT’s investment strategy will begin winding down following $297 million of divestments during the past couple of weeks in the Montreal, Ottawa and Greater Toronto areas.

Digital miner Hut 8 to acquire 5 TeraGo data centres

RENX  Commercial  •  Industrial  •  National, Toronto / GTA

Digital asset miner Hut 8 Mining Corp. is purchasing five data centres totalling over 36,000 square feet of space from TeraGo Network Inc. for $30 million.

Rogers planning $100M Brampton office campus

Commercial  •  Toronto Star

Rogers Communications has received city council’s support to move its current Brampton office location to the city’s downtown core. Rogers is planning a roughly $100-million, minimum 200,000-square-foot office complex that would also include retail, residential and additional office spaces.

CRE Matters › Taxation, wealth transfer issues loom large for family apt. building businesses

Tyler Dolan and Karl Innanen: Colliers Canada

T.O. planning rule creates wave of similar towers

Residential, Commercial  •  blogTO

Toronto’s Yonge Street has been buried in an avalanche of high-rise proposals over the past several years, but some are noticing that many of the recent towers in the works for the busy street’s stretch through downtown look similar.

Desperate owners look to repurpose parking lots

Commercial  •  Financial Post

Reef Technology, which owns thousands of parking lots in the U.S. and Canada including former Impark properties, is trying out many different uses – including ghost kitchens – for its urban spaces as the industry struggles with a pandemic-driven collapse in demand.

Sponsored by EMBLEM Developments EMBLEM Developments announces new in-house sales team

Alex Leung and Steve Cicekian join EMBLEM Developments as the company’s new in-house sales team. Chief Executive Officer, Kash Pashootan, announces that this is the latest exciting step towards EMBLEM offering a full suite of comprehensive real estate services.

NEXE acquires 54K-sq.-ft. Windsor industrial facility

Commercial  •  Canada Newswire

NEXE Innovations Inc. (NEXE-X), a leader in plant-based materials manufacturing, has completed the acquisition of a 54,000-square-foot industrial facility in Windsor, enabling the company to significantly expand production of its NEXE compostable packaging.

Capitol proposes 35-storey mixed-use

Residential, Commercial  •  Urban Toronto

Capitol Management has proposed a 35-storey, Turner Fleischer Architects-designed, mixed-use building at 836 and 838 Roselawn, and 131 Lyon Court. The building would include 4,100 square feet of ground-floor retail and 419 new residential units in a mix of eight studios, 322 one-bedrooms, 98 two-bedrooms and 44 three-bedrooms.

Greenwin proposes 31-storey res tower

Residential  •  Urban Toronto

Greenwin has proposed to build a 31-storey residential building at 133 Erskine Ave. The IBI Group-designed building would contain 296 new condo suites and 26 rental replacement apartments for a grand total of 322 residential units.

Manor Park proposes 20-, 25-storey Ottawa rentals

Residential  •  Ottawa Business Journal

Ottawa’s Manor Park Group is proposing 20- and 25-storey buildings at 1802 and 1804 St. Laurent Blvd. in Ottawa. The plan calls for a total of 512 rental apartments, 445 parking spaces and a zoning amendment to increase height limits from the current 98 to 253 feet.

Laurentian U. nearing decision on real estate sales

Commercial  •  CBC

The court-appointed monitor overseeing Laurentian University’s insolvency says the school needs more time to solve its financial woes and to go over a soon-to-be completed review detailing how it can make more money from its buildings and vast land holdings.

Court approves Slate Office’s buy of Irish REIT

Commercial  •  Globe Newswire  •  RENX

Slate Office REIT (SOT-UN-T) announced its offer to acquire all of the issued and outstanding shares of Ireland’s Yew Grove REIT for cash consideration of $1.45 per share, together with certain related matters, were approved by the High Court of Ireland.

Morguard acquires 100% of 22-storey L.A. mixed-use

Residential, Commercial  •  Canada Newswire

Morguard Corporation (MRC-T) has acquired the remaining 40.9% ownership of Lumina, a premium mixed-use property in Los Angeles. Lumina includes 299 urban loft residences, 40,746 square feet of creative office space, and 12,078 square feet of retail space, available for lease.

Four Seasons has 50-plus new projects in works

Commercial  •  Canada Newswire

Four Seasons has more than 50 new projects under planning or development, including in Italy, Spain, China, Japan, Colombia, Belize and the U.S., which will add to the company’s existing portfolio of 122 hotels and resorts and 48 residential properties in 47 countries.

Hong Kong, U.K. adding office space despite vacancies

Commercial  •  Bloomberg  •  Bisnow  •  CNBC

The world’s most expensive office market has more empty floorspace than ever. Vacant office stock in Hong Kong climbed to a record high in December to 9.1 million square feet, equivalent to nearly 158 football fields, according to CBRE Group Inc.

Condo market conditions tightest in 20 years: TRREB

Residential  •  Toronto Star  •  Globe Newswire  •  Globe Newswire

Toronto region condo prices surged skyward in Q4 2021 with the Toronto Regional Real Estate Board (TRREB) reporting some of the tightest market conditions in 20 years affecting both condo buyers and tenants.

New Toronto house prices soared 38.5% Y-O-Y

Residential  •  Toronto Star  •  Globe Newswire

The price of a new construction single-family home in the Toronto region jumped 38.5 per cent year-over-year in December to a record $1.8 million, the Building Industry and Land Development Association announced today.

Economists expect hot spring housing market

Residential  •  Toronto Star  •  CBC  •  Globe and Mail (Sub. required)

The Bank of Canada’s decision on Wednesday to keep interest rates low sets the stage for another hot spring real estate market as homebuyers jump in before rates are hiked later this year.

Calgary housing prices expected to grow 4% in 2022: CREB

Residential  •  Calgary Herald  •  Toronto Star  •  Global News

The Calgary Real Estate Board is expecting sales to remain above historical levels in 2022 after a record-breaking 2021, but the issue will be supply. The CREB is predicting price growth to hit four per cent this year, down from eight year-over-year.