Colliers REMS assumes management of T.O.’s Royal Bank Plaza

RENX  Commercial  •  Office  •  National, Toronto / GTA

Colliers played a big role in Pontegadea’s acquisition of Toronto’s Royal Bank Plaza and is now handling the building’s real estate management services.

Canderel CEO on the acquisition of Cominar REIT

Commercial  •  Retail Insider  •  RENX

Montreal-based Canderel became a major player in Quebec’s shopping-centre scene after it led the purchase of Cominar REIT (CUF-UN-T) and its assets. Brett Miller, CEO of Canderel, said over the past five years Quebec’s economy has been strong.

Equitable to buy Concentra Bank for $470M

Commercial  •  Financial Post  •  Canada Newswire

Equitable Group Inc. (EQB-T) announced it is entering an agreement to purchase Saskatoon-based Concentra Bank for $470 million. The company anticipates the deal will significantly accelerate its scale as a “challenger bank” in Canada, or a digital bank without branches.

The People Space › People Space: Reorgs lead to exec moves at Ivanhoé, Great Gulf…

Don Wilcox: Managing Editor

Data centres about to feel supply chain pinch

Commercial  •  Bisnow

The crippling supply chain crisis has mostly known no barriers with nearly every sector of global CRE feeling the lash at some point — save one: data centres. However, that’s about to change, and the data centre industry knows it.

Sponsored by HOPA Ports Growing companies thrive in HOPA’s industrial network

When customers join the HOPA Ports network, they tap into more than square footage or a great location in the GTHA. We strive to understand their business, invest in their vision, and help them succeed every step of the way.

SmartCentres proposes two towers for VMC

Residential  •  Urban Toronto  •  RENX

Park Place is the next proposed phase of SmartVMC, SmartCentres REIT’s 100-acre-plus master-planned city centre in Vaughan’s new downtown hub. Two mixed-use towers would rise 48 and 56 storeys and include 1,100-plus residential units and over 10,000 square feet of retail space.

Royal Mimico proposes 8-, 37-storey buildings

Residential, Commercial  •  Urban Toronto

Royal Mimico Developments has proposed a 37-storey, 826-unit condo building with 9,350 square feet of retail and an eight-storey self-storage facility with flexible rentable office space at 266 Royal York Rd., near Mimico GO Station. Both would be designed by IBI Group.

Firm Capital buys Quebec industrial property for $6.3M

Commercial  •  Globe Newswire

Firm Capital Property Trust (FCD-UN-X) announced the acquisition of a 50% interest in a multi-tenant industrial property in Saint Laurent, Que. The acquisition price for 100% of the property is approximately $6.3 million ($181 per square foot), excluding transaction costs.

Imperial acquires two properties at Edmonton site

Commercial  •  Canada Newswire

Edmonton-headquartered Imperial Equities Inc. (IEI-X) announced the purchase of two parcels of land, amounting to 1.6 acres, adjacent to its Coppertone Industrial Common development in Edmonton. The purchase includes an industrial building with 5,847 square feet of leasable space.

Two Sevens Capital acquires 3-storey Kingston multires

Residential  •  Canada Newswire

Two Sevens Capital Group of Companies announced it has acquired a nine-unit multiresidential low-rise building in Kingston for its Ontario-focused mid-cap portfolio. The three-level concrete building at 76 Pine St. offers seven one-bedroom and two two-bedroom units.

REIT fourth-quarter financial results/updates

Residential, Commercial  • 

Allied Properties REIT, (AP-UN-T), Globe Newswire
BSR REIT, (HOM-U-T), Canada Newswire

ATCAP, Brookfield acquire U.S. logistics portfolio

Commercial  •  PR Newswire

Dallas-based ATCAP Partners today announced the closing of its joint venture with Brookfield through its Real Estate Secondaries business. The joint venture has acquired a 3.5-million-square-foot U.S. logistics portfolio. Terms of the transaction were not disclosed.

Birks regains compliance with NYSE listing standards

Commercial  •  Canada Newswire

Birks Group Inc. (BGI-A), announced today it is back in compliance with the NYSE American LLC continued listing standards, which applies if a listed company has stockholders’ equity of less than U.S. $4 million.

Manhattan’s older offices buildings get left behind

Commercial  •  Bloomberg

Glassy skyscrapers that have popped up in recent years are luring companies seeking new space and preparing for the hybrid-work era, a sign of New York’s revival from the depths of the pandemic. Left behind are countless older buildings.

WeWork, Upflex sign strategic partnership

Commercial  •  Business Wire

WeWork Inc., announced a strategic and exclusive partnership with Upflex, a co-working aggregator and global flexible workplace startup, establishing a combined global network of over 5,500 locations and providing WeWork and Upflex clients with enhanced flexibility.

Ontario housing report calls for end to ‘single-unit’ zoning

Residential  •  Globe and Mail  •  Toronto Star

Zoning rules banning anything but single-family homes in swaths of cities must end to address the housing crisis, an expert panel convened by the Ontario government says in a report recommending sweeping changes to the planning process.

CMHC wants its market share back

Residential  •  Vancouver Sun

The Canada Mortgage and Housing Corporation has already acknowledged it needs to claw back business it ceded in the mortgage insurance market. Now, it’s getting more specific about its targets.

Canadian renters sound off on renovictions

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

OPINION: Soaring house prices mean more people will rent, possibly forever. But what do we know about this country’s renters? Compared with the attention given to home ownership, renting is a black hole of neglect.

High Windsor prices spurs interest in U.S.

Residential  •  CBC

A booming real estate market across Canada — including in Windsor-Essex where the average price has soared to a record $636,422 — has meant that for some investors, opportunities are drying up and they’re turning their efforts toward the U.S.