Fengate acquires Toronto Adelaide St. high-rise dev. site

RENX  Residential, Commercial  •  Office, Retail, Condominiums  •  Toronto / GTA

A Toronto high-rise development property at the intersection of Adelaide Street West and Charlotte Street has been acquired by Fengate Asset Management following a receivership sale.

Brasswater, Vista buy $100M Montreal ind. portfolio

RENX  Commercial  •  Industrial  •  Greater Montreal

Brasswater and Vista Properties have acquired 23 industrial buildings in the Montreal boroughs of St. Laurent and LaSalle for $100 million from DHP Corporation, in what Brasswater president Ian Quint calls one of the city’s largest industrial transactions this year.

Algoma Central sells Sault Ste. Marie mall for $30M

Commercial  •  REMI Network

Algoma Central Corporation (ALC-T) has sold Sault Ste. Marie’s 49-year-old, 550,000-square-foot Station Mall for $30 million as part of its seven-year campaign to unload its CRE portfolio. The mall’s new owner is reportedly Markham-based SM International Holdings.

Calgary office vacancies hit new high of 33.7%: CBRE

Commercial  •  CBC  •  Financial Post

More than a third of office spaces were vacant in downtown Calgary in Q2 2022, a record high according to a report from CBRE, which says landlords who have invested in upgrades to older buildings and amenities are reaping the benefits.

Vancouver sets precedent for building carbon targets

Residential, Commercial  •  Sustainable Biz Canada

The City of Vancouver’s regulations to slash embodied emissions from new construction are some of the most stringent in North America, according to a consultant who works with developers to deliver climate-smart construction.

Conference Board cuts economic growth forecast

Residential, Commercial  •  Toronto Star

The Conference Board of Canada is cutting its estimate for economic growth for this year and next as central banks around the world hike interest rates in an effort to deal with soaring inflation.

Sponsored by LivNorth LivNorth, a single source for onsite fitness facilities

According to a recent survey by Mercer Canada, physical health & fitness ranks as the top concern of Canadian employees in 2022, ahead of job security and advancement.

Capital, Metropia propose 46-storey condo tower

Residential  •  Urban Toronto

Capital Developments and Metropia propose to build a 46-storey condo tower at 170 Roehampton Ave. in Midtown Toronto. The Sweeny&Co Architects-designed tower would include 630 residential units – 21 studios, 360 one-bedrooms, 186 two-bedrooms and 63 three-bedrooms.

Nova Ridge proposes 17-storey mixed-use

Residential, Commercial  •  Urban Toronto

Nova Ridge Development has proposed a 17-storey, transit-oriented mixed-use development at 1613 St Clair W., on the St Clair streetcar route. The SvN-designed building would consist of 237 residential units, with two retail units at street level, fronting St Clair.

Six-storey mixed-use coming to Winnipeg

Residential, Commercial  •  CBC

A stretch of longstanding buildings in Winnipeg’s Osborne Village where AAA Antiques and Gags Unlimited once stood has been torn down, soon to be replaced by Sharfe Developments’ new six-storey mixed-use building.

The Industrial Real Estate Show › Podcast: Tips for industrial brokerage with Bronwyn Scrivens

Chad Griffiths: Partner, NAI Commercial

Vancouver ind. strata seems immune from rate hikes

Commercial  •  Western Investor

Strata now dominates both speculative industrial development and transactions in Metro Vancouver and the trend appears immune from rising mortgage rates. Metro Vancouver now has the lowest industrial rate in North America at 0.1 per cent in Q2, says Colliers’ research.

U.S. industrial holds steady amid Amazon slowdown

Commercial  •  Commercial Property Executive

Traditional retailers such as Walmart are joining the e-commerce game amid Amazon’s slowing expansion, fueling competition and construction activity in the long term. More than 656 million square feet of industrial space was under construction as of May, 3.8% of total stock­.

Manulife JV to buy $894M OMERS cogeneration facility

Commercial  •  IPE Real Assets

Capital Power Corporation and Manulife Investment Management have teamed up to buy a 1.63GW natural gas combined-cycle cogeneration facility in the U.S. from OMERS Infrastructure for $894 million US, including $521m of project-level debt.

Yardi launches CoworkingCafe.com

Commercial  •  PR Newswire  •  Commercial Property Executive

The Yardi suite of co-working and flex space tools expanded with the launch of CoworkingCafe.com and the acquisition of CoworkingMag.com. When combined with Yardi Kube, the firm now has the first end-to-end co-working solution for flex operators and owners.

U.S. rents rise 14% Y-O-Y; smallest since October

Residential  •  Business Wire  •  Business Wire  •  Newsweek

Rent increases tapered off in June, with the national median asking rent rising 14% year-over-year — the smallest annual increase since October, according to a Redfin report. Asking rents were up 0.7% from May, the smallest month-over-month gain since the start of 2022.

Some investors may have to sell at a loss

Residential  •  Toronto Star  •  Financial Post

Some buyers who purchased pre-construction homes as an investment could be at risk of having to sell at a loss if interest rates keep rising, which could affect prices in the wider real estate market, according to experts.

CMHC cuts home price forecast over next two years

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

Canada Mortgage and Housing Corp. has cut its national home price forecast for 2022-’23, saying interest rates were rising faster than it anticipated but it is not predicting a sharp correction because it said a housing shortage will support prices.

Montreal home sales drop 11% year-over-year

Residential  •  Global News  •  Globe Newswire  •  Globe Newswire

The Quebec Professional Association of Real Estate Brokers says June’s Montreal home sales dropped 11 per cent since the same time last year, but the market is still favouring sellers.

Victoria bucks trend as home prices keep rising

Residential  •  Western Investor

B.C.’s capital city is bucking a province-wide trend as housing prices rose in June from a month earlier, even as sales slowed. The price for a detached house in Victoria in June was $1,446,400, up 23.6 per cent year-over-year.