Marlin Spring fund buys two Toronto sites, plans 3 towers

RENX  Residential  •  Retail, Condominiums  •  Toronto / GTA

Marlin Spring’s first development fund  has acquired its fourth and fifth Toronto sites, on which it plans to add three more condominium towers to the city’s ever-changing skyline.

WSIB HQ to move from downtown T.O. office to London

Commercial  •  Toronto Star  •  Ontario Government media release  •  CTV

The Ontario government announced Tuesday it will move the Workplace Safety and Insurance Board to London, Ont. Real estate sources say the Front Street tower housing its current HQ could be sold for as much as $600 million.

Vancouver office market receiving post-COVID boost

Commercial  •  Business In Vancouver  •  Toronto Storeys

Speakers at a CRE association NAIOP meeting said demand for Vancouver office space has bounced back and some new drivers are in the offing. The panel discussion focused on the investment market and the fundamentals for office investment are strong.

Design, Policy and Canadian Cities › With secondary markets booming, there’s no better time for GO Expansion

Naama Blonder: Architect, Urban Designer, Urban Planner | B.Arch, OAA, RPP, MCIP

Calgary’s downtown slowly reawakens after slumber

Commercial  •  Financial Post

Calgary has seen the second-strongest recovery of downtown weekday foot traffic from pre-pandemic levels among six Canadian cities — and it’s ranked fifth among 23 centres in North America, according to an index from commercial real estate services firm Avison Young.

Minto reimagines Ottawa office

Commercial  •  Ottawa Business Journal

After two years of working remotely, Ottawa employees of The Minto Group are headed back to a brand new office oasis filled with plants, singing birds and a touchless environment that promotes physical distancing and capacity control while fostering collaboration.

Sponsored by Colliers (Calgary) Rare acquisition opportunity in Calgary’s rental market

Colliers is pleased to present the opportunity the acquire The Pinnacle and Wyldewood Estates (the “Portfolio”); a collection of two high-profile, institutionally owned and managed multi-residential properties located in Calgary.

Mtl. game studio Behaviour opens new T.O. office

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

It is one of the biggest independent gaming studios in the country and on Monday, Montreal’s Behaviour Interactive Inc. will unveil a new downtown Toronto office, where it plans to hire at least 50 to start as it continues its expansion.

Morguard Corporation’s ratings downgraded

Commercial  •  Canada Newswire

Morguard Corporation (MRC-T) announced DBRS Limited has downgraded Morguard’s issuer and senior unsecured debentures ratings to BB (high) with a stable trend from BBB (low) with a negative trend. DBRS had previously placed Morguard on negative trend effective Aug. 27, 2020.

Landa finally launches 21-storey Van. condo building

Residential  •  urbanYVR  •  RENX

After more than two years of delays due to the COVID-19 pandemic, Landa Global Properties has launched its latest project, a 21-storey, 54-unit tower at 1818 Alberni St. in Vancouver’s West End. The project has been reworked with keyless entry technology.

Harvey’s looks to add 200 locations in Canada

Commercial  •  Retail Insider

David Colebrook, president of Harvey’s, said the food establishment opened about 10 new locations in the past two years and currently has about 300 in Canada with plans to grow to about 500 within the next few years.

32 Ontario cannabis stores have shuttered: AGCO

Commercial  •  Ottawa Citizen

As pot shops continue to open provincewide, dozens of the businesses already have closed, says the Alcohol and Gaming Commission of Ontario. Thirty-two cannabis retailers have closed in St. Thomas, Windsor, Ottawa, Hamilton and the Toronto region, the AGCO said.

Toronto again tops North American crane count

Residential, Commercial  •  Daily Commercial News

Toronto continues to blow away the field in the semi-annual North American crane count index conducted by Rider Levett Bucknall. In Q1 2022, Toronto had 252 cranes working on construction projects, far outdistancing No. 2 on the crane index, Los Angeles, which had 51.

QuadReal, Round Hill add $273M to Irish residential JV

Residential  •  Irish Times  •  IPE Real Assets  •  RENX

QuadReal Property Group and its London-based partner Round Hill Capital are investing a further $273 million Cdn in Ireland’s build-to-rent sector. The additional funding brings the partnership’s total target investment in the sector here to $785 million.

Goldman Sachs raises $3.5B for global real estate bets

Residential, Commercial  •  Bloomberg  •  IPE Real Assets

Goldman Sachs Group’s asset-management arm West Street Real Estate Investment Partners raised $3.5B for its latest fund dedicated to global real estate investments. The fund has deployed more than 50% of its capital so far, mostly on housing, logistics and office properties.

HSBC warns of more Chinese loan losses

Residential, Commercial  •  Bloomberg

London-based HSBC Holdings, the largest foreign bank in China, warned of further potential hits from its battered real estate market as defaults continue to climb amid a worsening COVID outbreak. HSBC took a $160-million provision against Chinese CRE in Q1.

Calgary home rental market heats up

Residential  •  Global News  •  CTV

As Calgary’s housing market continues to heat up, finding a place to rent is also becoming more competitive. It’s to the point that prospective renters will put in offers to rent before even stepping foot inside the home.

Quebec landlords seek more control over lease transfers

Residential  •  CBC

VIDEO: Some Quebec landlords say they lose control of their properties when tenants transfer leases, but tenants’ rights activists say changing the law could cause rents to rise more quickly than they already are.

Departure from big cities slows due to return to office

Residential  •  Canada Newswire  •  Financial Post

As Canadians return to the office post-pandemic, BMO’s latest housing survey has found that despite the increasing housing costs and rising inflation, interest in purchasing a home in major city centres has increased by five per cent since last year.

Transparency must not be optional in blind bidding

Residential  •  Financial Post

OPINION: The federal government has promised a complete ban on blind bidding for homes, but the Ontario government has announced it will leave the decision up to sellers as to whether they opt for an open offer process.