CRE a hot investment sector, execs agree at RealCapital

RENX  Commercial  •  Industrial, Office, Retail, Apartments, Investment  •  National

A record amount of capital is available for commercial real estate investment, senior industry executives agreed during the closing panel at the virtual RealCapital conference on March 2.

Cologix, CIM Group to develop TOR4 data centre in GTA

RENX  Commercial  •  Industrial  •  Ontario, International

North American data centre service provider Cologix and developer CIM Group have partnered to construct and operate TOR4, a 50,000-square-foot Scalelogix data centre on a 3.4 acre campus in the Greater Toronto Area city of Markham.

Van. industrial land to average $7M per acre: CBRE

Commercial  •  Western Investor

A shortage of industrial real estate and soaring demand will drive the average price of industrial land in Metro Vancouver to more than $7 million per acre this year, according to CBRE’s 2022 Canada Real Estate Market Outlook.

Mtl. office vacancy rates to climb until mid-2023: AY

Commercial  •  Montreal Gazette

Office vacancies in Montreal could keep climbing until at least mid-2023 as several employers switch to smaller spaces due to teleworking’s impact. Vacancy rates in Greater Montreal hit an all-time high of 16.5 per cent in Q4 2021, according to Avison Young.

Optimism in Calgary office market’s future: Colliers

Commercial  •  Calgary Herald  •  Calgary Herald

Much has been said about the dire state of Calgary’s real estate industry, particularly in the inner-city office market. However, according to executives Justin Mayerchak and Aly Lalani, of Colliers’ Calgary office, the downtown office market is making a comeback.

Ottawa CRE investment market to remain ‘robust’: CBRE

Commercial  •  Ottawa Business Journal

Rising interest rates are unlikely to put a damper on a red-hot local commercial real estate investment market that’s coming off a record year in 2021, according to CBRE’s 2022 Canadian real estate outlook. CBRE is predicting another “robust” year of activity.

Sponsored by Propra Residential market trends to watch for 2022

Ongoing customer engagement shows us how more Canadian property managers and landlords are turning to technology to streamline their operations and adapt to a changing macroeconomic environment. The residential property management market continues to face constant shifts . . .

Westcorp looks to restart Kelowna hotel/condo tower

Residential, Commercial  •  Castanet  •  Global News

Edmonton-based Westcorp, which first set its sights on building a major Kelowna waterfront development in 2004, is planning to restart construction on a 33-storey hotel/condo tower later this year. Westcorp’s two-year development permit closed earlier this year due to COVID-19 delays.

No special exemption for CF project: Pointe-Claire mayor

Residential, Commercial  •  Montreal Gazette

Pointe-Claire Mayor Tim Thomas has turned down Cadillac Fairview’s request for its redevelopment plans for a project next to the Fairview shopping centre be exempt from its interim control resolution, or development freeze.

The Legal Corner › Relief for tourism, hospitality and others hit hardest by COVID-19 pandemic

Darrell Gold: Partner, Robins Appleby LLP

Latest Sustainable Biz Canada headlines

Residential, Commercial  • 

Flatiron CLT Leaside Innovation Centre planned for 2024

Avison Young, N.S. pension funds acquire Lion Electric facility

Windmill and Leader Lane partner on CLT condo

REOC fourth-quarter financial results

Residential, Commercial  • 

Genesis Land Development Corp. (GDC-T), Canada Newswire
Tricon Residential, (TCN-T), Business Wire

Couche-Tard staying put in Russia

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

While a handful of Canadian companies, such as McCain Foods Ltd. and Canada Goose, are distancing themselves from operations in Russia, other corporate pillars are continuing, including auto-parts maker Magna International Inc. and convenience-store giant Alimentation Couche-Tard Inc.

Fund managers face uphill battle to sell Russian shares

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

More than a dozen Canadian fund managers hold shares of Russian companies that have been on Canada’s trading sanctions list since 2015, but money managers may struggle to find buyers as they now seek to eliminate their exposure to the nation.

Slate acquires two Norwegian assets for $17M

Commercial  •  Business Wire  •  RENX

Slate Asset Management has acquired two essential real estate assets near Oslo for approximately $17 million Cdn. Approximately 95% of the portfolio’s income is secured by essential goods and service providers with over 85% of the base rent generated by class-A grocer NorgesGruppen.

Tech industry driving U.S. office leasing

Commercial  •  Wealth Management

Two years after the start of the COVID-19 pandemic and after multiple setbacks for planned returns to the office, tech companies remain the single largest driver of U.S. office leasing.

Toronto detached house price pushes $2M mark: TRREB

Residential  •  Toronto Star  •  Globe Newswire  •  Financial Post

For the first time, the average selling price of a detached house in the City of Toronto has pushed past the $2 million mark, even as barely perceptible signs of a cooling wafted across the region’s sweltering housing market in February.

Interest rate hike won’t cool housing market: Experts

Residential  •  CP 24  •  Globe and Mail (Sub. required)  •  Globe and Mail (Sub. required)

Housing experts say prospective homebuyers hoping Wednesday’s interest rate hike by the Bank of Canada will cool the country’s heated real estate market will likely be disappointed due to pent-up demand for homes and scarce supply.

Vancouver home sales up 50% month-over-month

Residential  •  CTV

The Real Estate Board of Greater Vancouver says the region saw a 50 per cent jump between January and February in the number of homes sold, as the market experienced a modest increase in new listings.

Calgary homes sales set February record

Residential  •  Calgary Herald  •  Globe and Mail  •  Western Standard

Calgary posted record home sales for February, with transactions last month 80 per cent higher than a year ago. The Calgary Real Estate Board said 3,305 properties changed hands, up from 1,831, with much of the growth driven by sales of detached homes.