Amazon, film industry gobble up Van. industrial space

RENX  Commercial  •  Land, Industrial  •  Metro Vancouver

Space-seeking Amazon and the film industry are just two major drivers behind the relentless demand for Metro Vancouver industrial properties, according to CBRE’s latest report. Major institutional investors, such as REITs and pension funds, are investing heavily in the sector.

Streetcar, Dream JV again, buy Gladstone Hotel

RENX  Commercial  •  Hotels and Resorts  •  Toronto / GTA

Six years after embarking on their first partnership to redevelop a historic Toronto hotel, Streetcar Developments and Dream Unlimited (DRM-T) are about to do it again. The partners announced Wednesday they will purchase the Gladstone Hotel in Toronto.

CAPREIT acquires Brossard apt. building for $43.5M

Residential  •  Globe Newswire  •  RENX

CAPREIT (CAR-UN-T) announced today it has purchased a brand-new 16-storey apartment building containing 112 suites well-located in the Greater Montreal Area municipality of Brossard. CAPREIT paid $43.5 million for the property which has an occupancy rate of 96.4 per cent.

15-storey Montreal residential development proposed

Residential  •  Montreal Gazette

Montreal’s public consultation bureau will hold hearings on a proposed 15-storey residential project on Ste-Catherine St. The proposal by businessman Peter Sergakis calls for the demolition of three buildings including a six-storey office building and a Dollarama store.

New Four Points hotel coming to Campbell River, B.C.

Commercial  •  Globe Newswire

Hotel Equities (HE) has announced plans for the development of a new Four Points by Sheraton hotel to be located in Campbell River, B.C. The new hotel is owned and being developed by We Wai Kai Nation.

Yenlo opens first Canadian office in Vancouver

Commercial  •  Globe Newswire

Global integration specialist Yenlo has opened an office in Vancouver. The new Vancouver office will enable Yenlo to deliver first-class development and operational services to customers in Canada and more easily support growing demand for its solutions across the country.

The Saskatchewan Edge › Explaining insurance, appraised and assessment valuations

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Canopy Growth to close two greenhouses, lay off 500

Commercial  •  Business In Vancouver  •  Financial Post

Canopy Growth Corp. (WEED-T) plans to close two massive greenhouses in British Columbia and lay off 500 employees, as the cannabis grower seeks to slow its cash burn and bring its production in line with lower-than-expected demand for legal marijuana.

Lowe’s selling Ace Canada business to TSC owner

Commercial  •  Winnipeg Free Press

Lowe’s Canada (LOW-N) says it has reached an agreement to sell its Ace Canada business to TSC Stores owner – Peavey Industries – as part of its restructuring that saw it close 34 underperforming Rona and Lowe’s stores. The price was not disclosed.

RioCan REIT launches Green Bond Framework

Commercial  •  Globe Newswire

RioCan REIT (REI-UN-T) has announced creation of a Green Bond Framework. RioCan is the first REIT in Canada to establish such a framework, whose aim is to finance sustainable investments or projects.

Gazit reduces First Capital ownership to 3.0%

Residential, Commercial  •  Canada Newswire  •  RENX

First Capital REIT (FCR-UN-T), one of Canada’s leading developers, owners and operators of mixed-use urban real estate in Canada’s most populated neighbourhoods, announced Gazit-Globe Ltd. has sold a portion of its interest in FCR, reducing its ownership from approximately 4.4% to 3.0%.

REIT fourth-quarter financial results

Commercial  • 

Cominar REIT, (CUF-UN-T), Canada Newswire

Granite REIT, (GRT-UN-T), Business Wire

NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire

Slate Office REIT, (SOT-UN-T), Business Wire

True North Commercial REIT, (TNT-UN-T), Canada Newswire

Cineplex shares fall after short seller raises concerns

Commercial  •  Toronto Star

Shares of Cineplex Inc. (CGX-T) fell more than 10 per cent after short seller Hindenburg Research suggested the company’s $2.8-billion deal to be acquired by Cineworld PLC could fall apart or see the price reduced materially.

Brookfield, Blackstone weigh sale of NYC’s One Liberty Plaza

Commercial  •  Regina Leader-Post

Brookfield Property Partners (BPY-UN-T) and Blackstone Group (BX-N) are weighing a sale of One Liberty Plaza, a downtown Manhattan office skyscraper, sources said. Brookfield and Blackstone are reportedly seeking US$1.6 billion to $1.7 billion from a full sale of the tower.

Shopify cancels L.A. events amid coronavirus concerns

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

Shopify Inc. (SHOP-T) says it is postponing all events, one-on-one appointments and workshops at its Los Angeles entrepreneurs’ space. The Ottawa-based e-commerce company says evolving public health concerns around a novel coronavirus prompted the decision.

Chicago’s $460M convention biz already hit by virus

Commercial  •  Chicago Business

The first coronavirus-related cancellation at McCormick Place saps tens of millions of dollars that would have flowed into the Chicago economy next week. There’s even more at stake over the next few months if other events are called off.

Alberta makes it easier for condo boards to ban Airbnb

Residential  •  Globe and Mail

An Alberta court ruling could give condo boards wide latitude to ban short-term rentals such as Airbnb, after a judge concluded owners who use those services are essentially running hotels.

Rate cut will further heat up housing market

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

The Bank of Canada’s interest-rate cut threatens to overheat the country’s booming housing markets, making it easier for home buyers to borrow and further driving up real estate prices.

60 consecutive months of Montreal-area sales growth

Residential  •  Globe Newswire

The Quebec Professional Association of Real Estate Brokers‘ (QPAREB) most recent statistics for the Montreal Census Metropolitan Area indicate 5,338 residential sales were concluded in February 2020, a 23 per cent year-over-year increase. This was the 60th consecutive month of sales growth.

Canadian mortgage debt on the rise: Equifax

Residential  •  Globe Newswire

According to Equifax Canada’s latest report on Canadian consumer credit, homebuyers have adjusted to the 2018 stress test with mortgage debt rising 5.2 per cent to $1.341 trillion year-over-year in Q4 2019. Non-mortgage debt was up only 2.7 per cent year-over-year in Q4.