New equity, new properties, new name for Nexus REIT

RENX  Commercial  •  Industrial  •  National

Nexus REIT (NXR-UN-T) had a big 2021, has major growth plans for this year and beyond, and will soon rebrand to Nexus Industrial REIT to better reflect its portfolio and strategy.

Suburban office teardowns make way for industrial

Commercial  •  Globe and Mail  •  RENX

With more people working from home and companies scrambling to keep their supply chains running, Carttera is ripping down a Mississauga office building and redeveloping the 11.3-acre site into two industrial buildings with a total of 248,000 square feet.

Leclerc acquires Brockville factory, to invest $100M

Commercial  •  Canada Newswire

Quebec City-based food manufacturer Leclerc has announced the purchase of the former Procter & Gamble factory at 1475 California Ave. in Brockville, an expansion of its North American operations that will see $100 million invested locally along with over 100 new jobs in 2022.

Crestpoint buys Canada’s largest fulfillment centre

RENX  Commercial  •  Industrial  •  Ottawa

Crestpoint Real Estate Investments Ltd., has acquired the largest fulfillment centre ever completed in Canada, the multi-level 2.8-million-square-foot Amazon facility in the south end of Ottawa.

Calgary’s ClearView focused on industrial market

Commercial  •  Calgary Herald

After a fulfilling 22 years with Avison Young — 17 of them as a partner in the Calgary office — Steve Vesuwalla decided to start ClearView Commercial Realty, whose newest lease is a 108,000-square-foot building in Remington Development’s Discovery Business Park in Edmonton.

EY to set up new finance hub in Calgary

Commercial  •  Calgary Herald

Sponsored by Trez Capital 2022 commercial and residential real estate recovery and growth

North American real estate markets soared throughout 2021, fueled in large part by monetary and fiscal stimulus from governments in relation to the pandemic. Other factors that increased demand across all asset classes included pent-up consumer demand, migration . . .

T.O. condo project threat to ‘national security’: Drug firm

Residential  •  CBC

Sanofi Pasteur, a pharmaceutical company in north Toronto, is objecting to Tenblock‘s proposed two 30-storey-plus condos next door on the grounds hundreds of residents looking down on its facility will represent a threat to “national security” in pandemic research.

Value: Weighed and Measured › Want to bet on 2022 being a post-war economic boom year?

John Clark: AACI, FRICS | Vice President, The Regional Group of Companies Inc.

The first Canadian Moxy Hotel to open in Halifax

Commercial  •  Globe Newswire

JONO Developments and Hotel Equities will open a Moxy hotel in Halifax. The new hotel is anticipated to be the first new-build Moxy hotel in Canada, part of Marriott Bonvoy’s portfolio of 30 brands.

Artis pre-leasing 300 Main, Winnipeg’s tallest building

Residential  •  Canada.com  •  RENX

The developer of Winnipeg’s new tallest building at 300 Main St. is now pre-leasing apartments. Built by Artis REIT (AX-UN-T), 300 Main offers 400 units in 42 storeys of luxury, although questions remain about who will occupy the space in Winnipeg’s struggling downtown core.

Montreal’s Chinatown to be granted heritage status

Commercial  •  Montreal Gazette  •  Globe and Mail  •  Montreal Gazette

The shrinking heart of Montreal’s Chinatown will be granted heritage status by the province to protect it from excessive development and gentrification, municipal and provincial officials announced Monday.

Brookfield’s NYC office tower tops out

Commercial  •  CP Executive

The two-million-square-foot Two Manhattan West, the second of two office towers in Brookfield Properties’ Manhattan West project, has topped out. The 58-storey building is scheduled for completion in 2023. The eight-acre, six-building project is immediately east of the Hudson Yards redevelopment.

Blackstone to buy Resource REIT in $3.7B apt. deal

Residential  •  Bloomberg  •  Globe Newswire

Blackstone Real Estate Income Trust agreed to buy Resource REIT Inc. in a deal valued at $3.7 billion, expanding its bet on U.S. rental housing. The deal gives Blackstone a portfolio of 42 garden-style apartment communities totalling over 12,600 units in 13 states.

Rating upgrade clears way for $10B Hudson River tunnel

Commercial  •  Daily Commercial News

Regulatory and funding approvals have cleared the way for a $10 billion train tunnel under the Hudson River that will connect New York to New Jersey, a long-delayed project and centerpiece of an effort to transform rail travel in the U.S. Northeast.

China Evergrande seeks more time from creditors

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

China Evergrande Group (EGRNF) on Monday sought more time from its offshore bondholders to work on a “comprehensive” and “effective” debt restructuring plan, amid signs Beijing is tightening control over the cash-strapped property group.

Housing market betting interest rates will never rise

Residential  •  Bloomberg  •  Globe and Mail (Sub. required)  •  Financial Post

An expected increase of more than one percentage point in the Bank of Canada‘s benchmark borrowing cost would backfire on homeowners holding variable-rate mortgages, driving the cost of their mortgages above that currently offered on conventional fixed-rate loans.

HomeEquity Bank surpasses $1B in reverse mortgages

Residential  •  Canada Newswire

HomeEquity Bank, provider of the CHIP Reverse Mortgage, reported just over $1 billion in reverse mortgage originations for 2021 for the first time. This milestone represents a 28 per cent increase over 2020. Its reverse mortgage portfolio under management now stands at $5.4 billon.

Van. hotel faces huge fines over maintenance issues

Residential  •  Globe and Mail

The 75-room Dodson Hotel – a non-profit-run building that has never been on the list of Vancouver’s worst hotels – is facing a dozen counts of failure to maintain its property and potentially tens of thousands of dollars in fines.

Forum engages Ryna to make renting easier for women

Residential  •  Canada Newswire

Forum Equity Partners has partnered with Ryna Living on the Forum Real Estate Income and Impact Fund’s Latin Quarter apartment property at 365-369 Ontario St. E. in Montreal. Ryna leverages technology to make renting easier and safer for women.