Canderel hopes to lure workers to the office with Okkto

Montreal-based Canderel has launched Okkto, a concept that aims to offer employees a better office environment and make work-from-home less appealing. The concept includes hotel-style lobbies, gyms and activities to allow employees to socialize and learn.

Canada lags U.S., Europe in purpose built student housing

Canada lags well behind the United States and several European nations when it comes to purpose-built student accommodations (PBSAs) despite attracting a large and growing number of international students in addition to those who live permanently in the country.

B.C.'s class-B, -C offices struggling: Altus

B.C. landlords of class-B and -C space are finding it difficult to lure remote workers, according to Altus Group's Ray Wong. As tenants have found themselves in a stronger negotiating position, they tend to look for deals in class-A properties.

Nexus acquires London industrial property for $36M

Nexus Industrial REIT (NXR-UN-T) has acquired a 263,7156-square-foot industrial building at 15745 Robins Hill Rd., near London International Airport, for $36 million. Nexus owns 13 properties in London and one in St. Thomas comprising 2.8 million square feet.

Kitchener approves three new housing projects

On Monday, Kitchener councilors moved forward with a plan to construct three new housing projects including Vive Development and MHBC Planning's four-building project between 12 and 34 storeys tall that will contain a total of 1,300 new residential units.

Summerhill resubmission increases sevenfold in units

Woodlawn Residences Corp.'s resubmitted applications for 1233 Yonge St. in Summerhill calls for a considerably larger project. The revised Arcadis-designed proposal now calls for 49 storeys - up from 13 - and 764 residential units - up from 110.

Brookfield, DigitalBridge bids for Compass Datacenters

Brookfield Infrastructure Partners (BIP-UN-T) and DigitalBridge Group (DBRG-N) are in a bidding war to acquire Dallas-based Compass Datacenters for more than $5.5 billion, including debt, according to sources. Compass Datacenters is partially owned by Ontario Teachers’ Pension Plan.

Lone tenant could hold up Mondev condo project

Montreal-headquartered developer Mondev says it will let Quebec’s housing tribunal determine the compensation for a tenant in a $400-a-month downtown Montreal apartment whose case risks delaying its 176-unit condo project.

G2S2 increases stake in Slate Office REIT

G2S2 Capital's wholly owned subsidiary Armco Alberta has acquired ownership of and control over $373,000 principal amount of 5.50% convertible unsecured subordinated debentures of Slate Office REIT (SOT-UN-T). G2S2 owns and exercises control over an aggregate of 14,607,500 units.

REOC first-quarter financial results

Kadestone Capital Corp., (KDSX-X), Canada Newswire

NexPoint Hospitality Trust, (NHT-U-X), Canada Newswire

Tribe Property Technologies Inc., (TRBE-X), Canada Newswire

Yorkton Equity Group Inc., (YEG-X), TheNewswire

Tentative deal reached to save Stellantis EV battery plant

Prime Minister Justin Trudeau and Premier Doug Ford have reached a tentative deal with Stellantis to save its Windsor battery factory that could be worth more than $13 billion in subsidies, the Star has learned.

Manulife US REIT selling Atlanta office

Singapore-based Manulife US REIT, which owns more than five million square feet of U.S. office space, has agreed to sell one of its most valuable assets - 20-storey Atlanta office building Phipps Tower - to manager The Manufacturers Life Insurance Co.

U.S. office valuations expected to fall

Commercial property deal volume has been stuck in low gear since interest rates started their march upward last year, and the lack of deals has stalled a reset in U.S. valuations, especially for the beleaguered office sector.

U.S. banks sink on concerns about office real estate loans

Shares of large and mid-sized U.S. banks sharply underperformed the broader market on Wednesday with the S&P 500 Banks Index closing down 2.0% while the benchmark S&P 500 Index fell 0.6% on worries about CRE loans.

B.C. puts 10 municipalities on watch list for housing targets

The B.C. government has named 10 municipalities that will be required to hit housing targets or risk being overruled by the housing ministry: Vancouver, West Vancouver, Port Moody, District of North Vancouver, Delta, Abbotsford, Victoria, Saanich, Oak Bay and Kamloops.

T.O. added 15,000 apt. units in 2022; Airbnb now lists 16,000

OPINION: According to Toronto’s “Housing Data Book,” the city added 15,000 new rental units in 2022, which is about half what was added in 2015. Meanwhile, short-term listings on Airbnb are up 11 per cent over the last year.

Who will manage all the future condos in Ontario?

The condo boom coupled with the looming retirement of those already employed will add even more pressure to the severe shortfall of licensed condo managers, the Association of Condominium Managers of Ontario (ACMO) warns in a statement.

Ont. builder of tiny homes charged with fraud

Philip Bradley, an Ontario builder of so-called “tiny homes” has been charged with fraud and police say 11 victims have now come forward, with more than $800,000 of deposit money unaccounted for.