Montoni, Fonds JV to build industrial, multires in Laval

Montoni and the Fonds immobilier de solidarité FTQ are partnering to develop an industrial park and a small residential project on a 89-acre site in Laval that was once home to a drive-in movie theatre.

Kitchener-Waterloo major focus at SW Ontario RE Forum

The inaugural Southwestern Ontario Real Estate Forum might best be described as a commercial real estate coming-out party for the Kitchener-Waterloo region which sits just beyond the borders of the Greater Toronto Area.

Trez Capital appoints co-CEOs, replacing founder Greene

Trez Capital announced chair, CEO and firm founder Morley Greene will transition into the role of executive chair while executive leaders John D. Hutchinson and Dean Kirkham will serve as co-CEOs.

H&R removes president, head of U.S. residential

H&R Real Estate Investment Trust (HR-UN-T) has parted ways with its president, who also ran its U.S. residential division, in a surprise move with little explanation. Philippe Lapointe, a Canadian based in Texas, joined H&R a decade ago.

Sunray proposes six-building Scarborough mixed-use

Sunray Group has proposed five mixed-use towers ranging from 23 to 48 storeys and a 12-storey mid-rise in Scarborough. The ZO1-designed community would include 58,636 square feet of retail/office space, 204 hotel suites and 2,048 residential units.

Prologis to utilize mass timber at Brampton facility

Prologis Inc. says it is the first company in the Americas to utilize prefabricated panels and mass timber to reduce embodied carbon emissions in the construction of its Highway 50 distribution centre in Brampton, Ont.

Vancouver gives developers $3.8M tax break

Vancouver city council voted 7-3 Wednesday to return $3.8 million to developers that has already been paid or was to be collected under the empty homes tax and related to 60 new unsold condominium units.

True North selling Ottawa office building for $17.5M

True North Commercial REIT (TNT-UN-T) has agreed to sell the 11-storey Narono Building at 360 Laurier Ave. W. in downtown Ottawa to an unnamed buyer for about $17.5 million. The transaction is expected to close in mid-June.

Remote work revolution never took off

A growing body of data suggests a sharp decline in the proportion of workers across North America who work fully remotely, and a corresponding surge in the number of people who do hybrid work, splitting time between home and office.

REIT first-quarter financial results

Boardwalk REIT, (BEI-UN-T), Canada Newswire

BSR REIT, (HOM-U-T), Canada Newswire

Crombie REIT, (CRR-UN-T), Canada Newswire

Flagship Communities REIT, (MHC-U-T), Canada Newswire

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

REOC financial results

Brookfield Asset Management, (BAM-T), Globe Newswire

Dream Unlimited Corp., (DRM-T), Business Wire

Fiera Capital Corp., (FSZ-T), Canada Newswire

Mainstreet Equity Corp., (MEQ-T), Business Wire

Tricon Residential, (TCN-T), Business Wire

Brookfield raises $19B for new funds

Brookfield Asset Management (BAM-T) has raised $19 billion for new funds this year and is relying heavily on cash-rich investors in the Middle East and Asia to fuel its growth, according to CEO Bruce Flatt and president Connor Teskey.

A&G preps auction of Bed Bath & Beyond leases

A&G Real Estate Partners is preparing to auction off hundreds of leases for Bed Bath & Beyond Inc.’s Bed Bath & Beyond and buybuy BABY stores. The Union, N.J.-based retailer filed for Chapter 11 bankruptcy on April 23.

Odd Burger plans to open 150 India, Singapore locations

Odd Burger Corporation (ODD-X) announced it has signed a non-binding letter of intent with 14728696 Canada Inc. o/a Earthlings Canada Inc. to open 145 locations in India and 5 locations in Singapore over a period of 10 years.

Tim Hortons to launch in South Korea in 2023

Tim Hortons (QSR-T) is expected to enter the South Korean market later this year under a master franchise agreement with BKR Co. Ltd., one of the largest QSR companies in South Korea.

CMHC rejects extending mortgage amortization period

The Canada Mortgage and Housing Corp. (CMHC) is not in favour of extending the maximum amortization period for new mortgages, arguing that measures to cut monthly payments would also stoke demand and spur higher home prices.

Toronto council says multiplexes can be built citywide

Toronto councillors on Wednesday afternoon voted to allow multiplex housing citywide — meaning duplexes, triplexes and fourplexes can be built, without special permissions, in neighbourhoods from Rosedale to Westmount that are currently dominated by detached and semi-detached houses.

Meridian fourth to demand repayment of StateView loans

A fourth lender has demanded repayment of millions in loans from troubled Toronto-area developer StateView Homes. Meridian Credit Union Ltd. is seeking repayment of $17.8 million it loaned StateView on Dec. 5, 2022. 

Victoria mortgage broker under control of receiver

Victoria mortgage broker Gregory Martel, facing several civil lawsuits claiming he and My Mortgage Auction Corp. owe more than $27.5 million to clients, no longer has control of his company after the B.C. Supreme Court appointed a receiver.