Lowland, Roy-L acquire two Waterloo office buildings

RENX  Commercial  •  Office  •  Ontario

Lowland Properties Group has wrapped up a “landmark” 2021 by closing on the acquisitions of two Waterloo office buildings, 450 and 460 Phillip St. in the Waterloo Idea Quarter.

2 Bloor West is Canada’s first SmartScore building

RENX  Commercial  •  Office, Technology  •  Toronto / GTA

Toronto’s 2 Bloor West, owned by KingSett Capital and managed by Triovest, is the first building in Canada to meet all of the criteria needed to receive a SmartScore certification.

Groupe Sélection sets sights on rental housing

Residential  •  La Presse  •  RENX

Groupe Sélection plans to invest no less than $1 billion per year over the next seven years in several mixed rental housing projects, the largest of which is Montreal’s Molson Brewery site, according to chief executive officer Réal Bouclin.

The Industrial Real Estate Show › Podcast: How Prologis became world’s largest industrial property owner

Chad Griffiths: Partner, NAI Commercial

Top 10 Metro Van. development stories of 2021

Residential, Commercial  •  urbanYVR

Despite the ongoing COVID-19 pandemic, the future of Metro Vancouver continues to evolve and change, with new projects continually being announced, plus tweaks and changes to long-awaited developments. Here are the Top 10 Metro Vancouver development stories of 2021:

CRE sector poised for recovery, growth: Morguard

Commercial  •  Canada Newswire

Morguard Corporation’s (MRC-T) 2022 Canadian Economic Outlook and Market Fundamentals Report forecasts increased investor activity following the anticipated post-pandemic full economic reopening “with multi-suite residential rental and industrial properties anticipated to continue outperforming when compared to office and retail assets.”

Sponsored by Yardi Analyzing technology’s impact on real estate

The past 30 years have seen a multitude of upheavals including the global financial meltdown of the early 2010s, the dot.com bubble burst at the turn of the century, and the savings and loan crisis during the preceding decade.

Kontrol launches carbon credit program for buildings

Commercial  •  Sustainable Biz Canada

Kontrol Technologies, a smart energy solutions provider, has launched its own carbon credit monetization program. The company’s energy management technology allows buildings to save energy, with a corresponding reduction in greenhouse gas emissions.

Peakhill JVs on $125M Manhattan 171-unit project

Residential  •  PR Newswire  •  The Real Deal

Toronto-based Peakhill Equity Partners announced it has partnered with Fetner Properties and a global institutional investor on a $125-million multifamily development on Manhattan’s Upper West Side. The project will bring a total of 171 market-rate and affordable apartments to the neighbourhood.

Trez Capital invests $33.3M in Texas apartment project

Residential  •  Canada Newswire

Trez Capital Private Real Estate Fund Trust has invested $33.3 million US in partnership with Thompson Realty Capital, LLC for the development of a garden-style multi-family project in Austin, Texas. The project has a total development cost of $100 million US.

BMO acquires Bank of the West for $20.9B

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

Bank of Montreal (BMO-T) is making a major splash in the U.S. with a cash deal to buy Bank of the West for $20.9 billion. BMO is doubling the size of its branch network in the U.S. by adding 500 locations.

Brookfield buys DreamWorks property for new REIT

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

Brookfield Asset Management (BAM-A-T) has bought the DreamWorks Animation campus in California for $422 million Cdn, part of nearly $776 million in deals for a new REIT it’s selling to wealthy investors. The new Brookfield REIT isn’t publicly traded.

CPP, Lendlease JV on London office complex

Commercial  •  Canada Newswire

CPP Investments and international real estate group Lendlease have established a 50/50 joint venture partnership dedicated to the development of a new office-led neighbourhood at International Quarter London. The partnership has initially committed to developing the Turing Building, allocating approximately $368 million.

Businesses slam the brakes on back-to-the-office plans

Commercial  •  CBC  •  BC Business  •  CBC

Manulife was planning to restart office work on Jan. 24, but told employees it is shelving those plans. Rival Sun Life is “encouraging the people who were volunteering to come into the office to stay home until the end of January.”

Business groups appeal for provincial support

Commercial  •  Winnipeg Free Press  •  Globe and Mail (Sub. required)  •  CFIB media release

Two of Canada’s largest business groups – Restaurants Canada and the Canadian Federation of Independent Business – are calling on provincial governments to provide financial support for restaurants, retailers and small businesses grappling with renewed public health restrictions.

Reena proposes 19-storey purpose-built rental

Residential  •  Urban Toronto

Reena, a non-profit providing accommodation, specialized care, and supervision for individuals with development disabilities, has proposed a 19-storey purpose-built rental at 155 and 165 Elm Ridge Dr. in Toronto’s Briar Hill neighbourhood. The Richmond Architects-designed building would provide 106 affordable rental units.

Housing affordability hits 31-year low: RBC

Residential  •  Bloomberg  •  Toronto Star

Housing affordability in Canada deteriorated to the worst level in 31 years in Q3 2021, according to a new report from RBC Economics. RBC economist Robert Hogue says aggregate home ownership costs rose to 47.5 per cent of median household income in Q3.

Laneway houses affect West End Van. home values

Residential  •  Globe and Mail

A recent academic study from UBC’s Sauder School of Business found laneway houses had no effect on the eventual sale prices of homes in most of Vancouver. However, in west-side neighbourhoods with more expensive homes, there could be significant differences.

Van. slowly leading the way on rental housing

Residential  •  Globe and Mail

EDITORIAL: Tuesday, more than two years after Vancouver council first backed the idea, it finally passed a new rental policy. Allowing more rental housing is a welcome shift in direction. It’s too slow and too little, but it’s movement nonetheless.

Canadian home prices rise 0.4% in November: Teranet

Residential  •  Globe and Mail (Sub. required)

Canadian home prices grew by 0.4 per cent in November from October, pushed up by a limited supply of homes for sale and buyers seeking to act ahead of anticipated rate hikes, Teranet-National Bank Composite House Price Index showed on Friday.