Montreal Sheraton Centre in $520M hotel portfolio sale

RENX  Commercial  •  Hotels and Resorts  •  Greater Montreal, International

The 825-room Montreal Sheraton Centre is among a portfolio of five North American properties to be acquired in a $520-million Cdn transaction by special purpose acquisition company VM Hotel Acquisition Corp. (VMH-U-T).

CRE opportunities, challenges in mid-sized cities

RENX  Commercial  •  Investment, Land  •  National

Mid-sized Canadian cities have been among the best commercial real estate performers during the pandemic and a Dec. 2 Real Estate Forum panel featured executives from companies focused on these markets.

Liberty plans seven mixed-use buildings in Etobicoke

Residential, Commercial  •  Urban Toronto

Liberty Development has proposed to redevelop Etobicoke’s Six Points Plaza with mixed-use buildings of 10, 10,  25, 30, 35,  42 and 45 storeys  as well as parkland. The IBI Group-designed buildings would total 2,130 residential units and be built in four mixed-use blocks.

39-storey condo tower proposed in Midtown Toronto

Residential  •  Urban Toronto

G.R Feldman Investments Ltd has proposed a 39-storey condominium tower at 45 Balliol St. in Midtown Toronto. The Core Architects-designed building would contain 507 new residential units comprised of 266 one-bedroom units (52.4%), 189 two-bedroom units (37.3%), and 52 three-bedroom units (10.3%).

Bronfman seeks hundreds of millions for project

Residential, Commercial  •  La Presse

Stephen Bronfman’s group is asking Quebec for a financial contribution of up to a few hundred million dollars for its baseball stadium project in Montreal, La Presse has learned. The project is worth approximately $1 billion.

Canadian Net acquires Ont. retail property for $23.4M

Commercial  •  Globe Newswire  •  RENX

Canadian Net REIT, (NET-UN-X) announced the acquisition of a 111,118-square-foot standalone retail property leased to a Walmart in Collingwood, Ont. Total consideration paid was $23,400,000 and was settled in cash.

Sponsored by Cogir Real Estate Cogir Real Estate: real estate with purpose

Incorporated in 1995, Cogir Real Estate employs close to 4,500 colleagues who have a passion for real estate. These individuals manage over 250 properties located in the provinces of Quebec, Ontario and Nova Scotia as well as the U.S. …

Calgary real estate is on a late-year roll

Residential, Commercial  •  Western Investor

With $468 million in sales – not counting the $1.2-billion Bow office tower purchase that has yet to close – in Q3 2021, Calgary is on track to top $2 billion in commercial and industrial real estate sales this year, according to Altus Group.

Condo builder can’t resell homes amid legal fight

Residential  •  London Free Press

Tillsonburg condo buyers locked in a legal battle over whether builder Green Urban People can cancel the purchase and resell the units have been buoyed by a recent court ruling that prevents the units from being resold.

Eight charges laid in deadly London building collapse

Residential  •  London Free Press

Only days from its first anniversary, eight workplace safety charges have been laid in the partial collapse of a London apartment building that killed two construction workers and injured five others, Ontario’s Labour Ministry said Monday.

The Saskatchewan Edge › Why you should sell your commercial real estate now

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

T&T Supermarket is headed to Quebec

Commercial  •  Retail Insider  •  Canada Newswire  •  Canadian Grocer

T&T Supermarket is headed to la belle province. For its first-ever store in Quebec, Loblaw’s Asian specialty grocer is narrowing its search to the Island of Montreal. T&T plans to open the store in the next 12 to 24 months.

Teachers’, CPP up stake in Mexican infrastructure JV

Commercial  •  Canada Newswire  •  IPE Real Assets  •  IPE Real Assets

Ontario Teachers’ Pension Plan Board and CPP Investments will acquire an additional 8.4 per cent and 1.1 per cent, respectively, stake in Impulsora del Desarrollo y el Empleo en América Latina, S.A.B. de C.V. at $2.69 Cdn per share.

SL Green announces a flurry of deals

Residential, Commercial  •  Globest.com  •  Globe Newswire  •  Globe Newswire

SL Green Realty  (SLG-N) announced a number of deals Monday, including the news it has sold a 25% stake in One Madison Ave., to an international investor. The buyer has committed aggregate equity to the project totaling no less than $259.3 million.

Biden eyes tighter rules for shell-company purchases

Residential, Commercial  •  Bloomberg  •  NEWSNATION  •  Bisnow

The U.S. Treasury Department will begin developing regulations that could expand reporting requirements for all-cash real estate purchases as part of the Biden administration’s efforts to cut down on global corruption, according to two senior administration officials.

Evergrande debt deadline passes; Kaisa adds to crisis

Residential, Commercial  •  Globe and Mail  •  CNN

Some offshore bondholders of China Evergrande Group did not receive coupon payments by the end of a 30-day grace period, sources said, pushing the cash-strapped property developer closer to formal default.

Canadians went on $193B mortgage binge during COVID

Residential  •  Financial Post  •  Financial Post

Low-interest-rates loving Canadians have lapped up $193 billion in new mortgage debt during the pandemic, taking total household debt to a record $2.5 trillion. However, the party is about to end as central banks pull the interest rate levers to tame inflation.

Housing heads myriad vulnerabilities facing households

Residential  •  Financial Post

Considering Canadian households’ overreliance on the shaky residential real estate market, the situation heading into the Bank of Canada rate-hike cycle looks rather concerning. Any pullback in the housing space would have negative implications on consumption and, thus, GDP.

Ottawa housing supply shortage ‘not sustainable’: OREB

Residential  •  Ottawa Business Journal  •  Global News  •  Ottawa Business Journal

The city’s tight housing supply is “not sustainable” if a more balanced market is to be achieved in the coming months, the head of the Ottawa Real Estate Board cautioned Friday as home prices rose 19 per cent year-over-year in November.

Ontario to guarantee loans for non-profit LTC development

Residential  •  Daily Commercial News

Ontario is offering loan guarantees to help not-for-profit long-term care homes acquire development loans. The government says it’s setting aside $388 million in lending from Infrastructure Ontario.  It says approved borrowing costs not-for-profit homes will also be reduced.