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Brady Welch to replace Steve Hodgson as Slate Office REIT CEO
Brady Welch to replace Hodgson as Slate Office REIT CEO
Slate Office REIT (SOT-UN-T) announced chief executive officer Steve Hodgson will step down to “pursue other opportunities” as of May 12 and be replaced on an interim basis by Brady Welch, a member of its board and founding partner of the REIT’s manager Slate Asset Management.
H&R reaches deal with activist investor K2
H&R REIT (HR-UN-T) has reached a deal with an activist investor that had sought changes at the trust’s board, K2 Principal Fund and K2 & Associates Investment Management have withdrawn their four nominees who were slated to stand for election.
42-storey mixed-use proposed in Kitchener
Arcadis IBI Group has proposed a 42-storey mixed-use tower on behalf of 1928393 Ontario Inc. in Kitchener. The tower would provide 436 residential units - including 74 two-bedrooms, 36 two-bedroom-plus-dens and 62 three-bedrooms - and three ground-floor commercial units.
 | Design, Policy and Canadian Cities Remote work won't kill the CBD, but it might kill the suburban office parkNaama BlonderArchitect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP |
Beedie can appeal $42M rent arbitration award
Beedie has been granted leave to appeal an arbitration award that it owed about $42M in back rent at Vancouver's Kingsgate Mall to the Vancouver School Board – due to a disagreement about the property's market value.
 | JLL Canadian CRE ramping up support of life science sectorWhile Canada punches above its weight in scientific research, a lack of scale-up space is blocking the growth of its life science industry. However, a wave of new development is beginning to materialize that will support the industry's growth. Sponsored by: JLL |
TAS will reuse salvaged material at T.O.'s 2 Tecumseth
Developer TAS will reuse approximately 6,000 tonnes of salvaged material in the redevelopment of a former municipal abattoir and the Wellington Destructor garbage incinerator at its 2 Tecumseth St. site in Toronto.
BMO Place transforms iconic retail space into offices
As one door is closing, another has opened. Downstairs in the building that was originally Eaton’s flagship department store in Toronto, a final clearance sale is under way as Nordstrom gets ready to move out of Canada.
Construction sector on the road to normalcy: JLL
In its first combined United States/Canada construction outlook report, JLL is predicting a return to normalcy for the construction sector after the turmoil caused by COVID-19, rising material prices and constricted supply chains.
Remote work impacting downtown Mtl.: National Bank
National Bank CEO Laurent Ferreira plans to maintain a flexible approach toward his employees working in the office, even though he’s worried about the impact remote work is having on the vitality of downtown Montreal.
Ottawa office market labouring under extreme pressures: AY
The elevated-rate environment and the present lack of a concrete return-to-office (RTO) policy by the federal government had a significant impact on the Ottawa office segment during the latter half of 2022, according to Avison Young's Ottawa office market report.
Ontario commits to 95-year lease for Ontario Place spa
The company behind a waterpark and spa that’s set to take over a major portion of Ontario Place has signed a 95-year lease with Queen's Park — a long-term contract Therme argues is necessary to recoup its investment.
Teachers’ revokes licences of China equity investment team
The Ontario Teachers’ Pension Plan closed its China equity investment team based in Hong Kong last week. The Hong Kong’s Securities and Futures Commission website shows licenses of five employees of the pension fund were revoked on April 18.
Pension funds feeling the pain of CRE debt
While banks hold about half of all U.S. commercial real estate debt, large pension funds, REITs and insurance companies together account for more than $1.2 trillion — or 22% — of the $5.62 trillion in total debt outstanding.
Ares Mgmt. co-founder making $5B bet on downtown Atlanta
Ares Management co-founder Tony Ressler said he’s undeterred by the CRE downturn and is moving forward with his partners to transform downtown Atlanta by turning a vacant railyard into a $5 billion mix of hotels, restaurants and offices.
China’s broadened REITs scheme improves liquidity
Fitch Ratings expects China’s REITs market to expand, bolstered by the inclusion of commercial properties into the scheme, which can help improve liquidity for consumer-oriented real estate such as shopping malls, department stores and farmers’ markets.
Growing number of homeowners have underwater loans
Financial disclosures from Canada’s three major mortgage insurers show a rising number of homeowners’ properties now owe more than their homes are worth, which ramps up insurers’ risks of payouts.
CREA clampdown on ‘exclusive’ listings riles agents
The Canadian Real Estate Association has moved to force realtors with “off-market” homes for sale to post those listing on its Multiple Listing Service within three days of making any public marketing moves.
Ont. considers cooling-off period for pre-construction housebuyers
This year British Columbia granted homebuyers the right to rescind an offer on a home within three business days. Now Ontario is considering a similar cooling-off period for pre-construction housebuyers.
Edmonton among most affordable markets
With the average price of a condo at the end of March falling five per cent year-over-year to $170,000 and townhome prices dropping nearly 13 per cent to about $248,000, Edmonton remains among the most affordable markets.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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