NWRE, First Gulf plan more industrial condos in Ontario

RENX  Commercial  •  Industrial, Land  •  Ontario, Toronto / GTA

A partnership between Nicola Wealth Real Estate (NWRE) and First Gulf continues to acquire more Ontario industrial properties, with the latest being a 13.4-acre site in Oakville, west of Toronto.

Central Walk buys B.C.’s Tsawwassen Mills mall

Commercial  •  Daily Hive  •  CTV  •  Delta Optimist

Just over five years after it opened, Tsawwassen Mills, one of the largest shopping malls in B.C., has changed ownership. The 1.2 million-square-foot mall on 107 acres in Delta, B.C., was recently sold to Nanaimo-based Central Walk by Ivanhoe Cambridge.

Core proposes 12-storey residential in Scarborough

Residential  •  Urban Toronto

Core Development Group is seeking approval for a Studio JCI-designed 12-storey residential building at 150 Clonmore Dr. in Scarborough’s Birch Cliff neighbourhood. It would contain 287 units – one studio, 98 one-bedrooms, 94 one-bedroom-plus-den, 34 two-bedrooms, 28 two-bedrooms-plus-den and 32 three-bedrooms.

The Apartment Building Expert › Real estate developers live longer lives

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Silverstein Properties plans Montreal R&D centre

Commercial  •  La Presse

Silverstein Properties, the firm behind New York’s World Trade Center redevelopment, plans to open a 30-person research and development centre in downtown Montreal, with the goal of transforming its tenant management into a full-service platform.

Agropur still mulling $100M offer for Montreal HQ

Commercial  •  La Presse

The Agropur dairy cooperative is still studying an unsolicited, $100-million offer it received concerning the purchase of its head office in the Montreal borough of Saint-Hubert, in Longueuil.

Sponsored by Triovest Making ESG goals a reality

CRE industry will need to embrace innovation, new business models to achieve net zero emissions.

Romspen’s streak of positive monthly returns hits 326

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

With 326 consecutive months of positive returns, Romspen Investment Corp., a provider of high-interest mortgages to developers who typically don’t qualify for bank loans, might have the country’s most consistent investment fund.

Canada’s inflation rate hits new 31-year high

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

Canada’s inflation rate hit a new 31-year high in April as prices surged for groceries and other everyday items, part of broad-based price hikes that are getting tougher for people to avoid. The consumer price index rose 6.8 per cent year-over-year.

Infrastructure, real estate help CPP earn 6.8%

Residential, Commercial  •  Globe and Mail (Sub. required)  •  Canada Newswire

CPP Investments‘ fund, which includes the combination of the base CPP and additional CPP accounts, earned a net return of 6.8 per cent for its latest fiscal year with private equity, infrastructure, real estate and credit investments the main contributors.

Latest Sustainable Biz Canada headlines

Residential, Commercial  • 

Dream kicks off 19 building retrofits to cut emissions
Brivia Group to build world’s tallest Passive House in Vancouver
Zibi’s roadmap to an innovative district energy system
GIP to build Future Energy Park in Calgary

REIT/REOC first-quarter financial results

Residential, Commercial  • 

Firm Capital Apartment REIT, (FCA-UN-X), Globe Newswire
Firm Capital Property Trust, (FCD-UN-X), Globe Newswire

Brookfield buys Britain’s HomeServe for $6.46B

Residential  •  Globe and Mail  •  Bloomberg  •  Globe Newswire

Brookfield Asset Management (BAM-A-T) has agreed to buy British home repair services firm HomeServe for $6.46 billion Cdn, as it looks to broaden its exposure to U.K. residential infrastructure investments. The cash deal adds to Brookfield’s $930 billion portfolio of alternative assets.

Microsoft moves forward with huge Atlanta campus

Commercial  •  Daily Commercial News

Tech giant Microsoft Corp. is moving forward with ambitious plans to develop a massive corporate campus on a 90-acre parcel of land on the west side of Atlanta over the next decade that will eventually employ thousands of workers.

Greenpoint Partners eyes $1B for real estate bets

Commercial  •  Bloomberg

Greenpoint Partners, a firm founded by Macquarie Group Ltd.’s former global real estate investment banking head Chris Green, is seeking about $1 billion for a new fund dedicated to property wagers, according to people with knowledge of the matter.

Apple delays plan to have staff return three days a week

Commercial  •  Wealth Management  •  Palo Alto Online

Apple Inc. delayed a plan to require workers to come back to the office three days a week, citing a resurgence in COVID-19 cases, marking the latest setback in its efforts to return to normal.

OSFI to tighten mortgage-HELOC rules

Residential  •  Globe and Mail (Sub. required)

The Office of the Superintendent of Financial Institutions (OSFI) has said it will announce changes to the rules governing mortgage-HELOC loan programs this spring amid concerns the programs have the potential to keep customers deep in debt.

Buyer’s remorse high as market slowdown materializes

Residential  •  Ottawa Business Journal  •  Financial Post

Realtors and lawyers in Toronto and Vancouver have noticed buyers looking at what options they have to get out of a purchase and sellers hoping to ensure one goes through because conditions have shifted dramatically from the previous highs.

Home price index posts record growth in April: Teranet

Residential  •  Globe and Mail

The Teranet National Bank Composite House Price Index, which tracks repeat sales of single-family homes in major Canadian markets, rose 2.7 per cent in April, up from a 2.1 per cent gain in March. The data is not seasonally adjusted.

Toronto’s mixed housing market may signal coming trend

Residential  •  Reuters

Prices in Toronto’s core, which is dominated by condos, rose by a far more subdued margin than the city’s suburbs during the pandemic, leaving the area less vulnerable to a correction. And, many who moved are rethinking living further afield.