GWLRA buys 7-property Montreal industrial portfolio

RENX  Commercial  •  Industrial  •  Greater Montreal

GWL Realty Advisors (GWLRA) is acquiring a portfolio of seven medium-bay industrial properties in the emerging Montreal node of Varennes, as it continues to seek high-quality properties and development land in the sector.

Vancouver retail CRE sector is ‘roaring back’

RENX  Commercial  •  Retail, Investment  •  Metro Vancouver

A Colliers report paints a rosy picture for retail commercial real estate in Greater Vancouver, with the regional vacancy rate at an “extreme low” of 2.5 per cent and the prospect of rising asking rents.

Suncor exploring sale of Petro-Canada gas stations

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

Suncor’s board will form a committee to oversee a strategic review of its retail business, including the potential sale of its gas station network, which is valued at $5 billion to $8 billion according to one National Bank of Canada estimate.

H&R, Tribal Partners launch Meadowvale project

Commercial  •  Canada Newswire  •  RENX

H&R REIT and Tribal Partners have launched construction of the state-of-the-art Meadowvale Commerce Park. Cushman & Wakefield will market the 336,000-square-foot, two-building infill industrial development on a 15.45-acre site at 1925 and 1965 Meadowvale Blvd. in Mississauga.

Two LIUNA towers to remake Hamilton skyline

Residential  •  Daily Commercial News  •  RENX

LIUNA continues to do its part to change the downtown Hamilton skyline with two 30-storey rental buildings at 45 King St. E., christened the Cobalt Luxury Residences. It is now two years from completion, under the management of SG Construction.

Madison Group breaks ground on Capitol Residences

Residential  •  Urban Toronto  •  RENX

Madison Group in partnership with Westdale Properties have formally broken ground at The Capitol Residences at 2500 Yonge St. The 14-storey Capitol – designed by Turner Fleischer Architects and Hariri Pontarini Architects – will feature 145 suites ranging from 425 to 1,950 square feet.

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N.L. court OKs sale of 42 Catholic church properties

Commercial  •  CBC  •  Toronto Star  •  Ottawa Citizen

The Supreme Court of Newfoundland and Labrador has approved the sale of 42 properties belonging to the Roman Catholic Episcopal Corporation of St. John’s, including 12 churches, as dozens more church property sales loom across Eastern Newfoundland.

Nexiite chosen to rebuild 2 homes in fire-ravaged Lytton

Residential  •  Sustainable Biz Canada

Fire-resistent qualities in a new form of concrete called Nexiite, which is already recognized for its sustainability, has made it the material of choice to rebuild two homes in the fire-ravaged B.C. town of Lytton.

Real World of Real Estate › Podcast: Investing across borders with Lauren Cohen

Gerald Tostowaryk:

3 undervalued REITs yielding over 5%

Residential, Commercial  •  Motley Fool  •  Motley Fool  •  Motley Fool

RioCan (REI-UN-T) had a strong Q1 2022 due to the growth in its key metrics. Empire Company is a prominent shareholder in Crombie. Crombie (CRR-UN-T) and Dream Office (D-UN-T) reported a 415.3% year-over-year increase in net income to $52.28 million.

Top 10 upcoming Alberta, B.C. construction projects

Commercial  •  Daily Commercial News

The accompanying tables show the Top-10 major upcoming Alberta and British Columbia construction projects. They are all in the planning stage and are mainly new projects, but may also involve additions and/or alterations.

Brookfield secures $1.23B for Irish REIT takeover

Commercial  •  Bisnow

Canadian asset management giant Brookfield has sourced $1.23 million in loans to back its takeover of Irish REIT Hibernia. The loans valued Hibernia at $1.78 billion, including the REIT’s credit facility with Bank of Ireland.

ISS recommends American Campus votes for takeover

Residential  •  Business Wire  •  Business Wire

American Campus Communities (ACC-N), the U.S.’ largest owner, manager and developer of high-quality student housing properties, announced Institutional Shareholder Services Inc. (ISS), has recommended stockholders vote for the all-cash acquisition of the company by Blackstone Core+ perpetual capital vehicles.

Rexford Industrial announces $660.9M in acquisitions

Commercial  •  PR Newswire

Rexford Industrial Realty, Inc. (REXR-N), a REIT focused on creating value by investing in and operating infill industrial properties located throughout Southern California, announced the acquisition of seven properties for $660.9 million.

U.S. industrial on the brink of overbuilding

Commercial  •  Bisnow

Industrial developers are unleashing nearly 700 million square feet of warehouses across the U.S. following two years of record absorption. However, experts say a likely recession and quickly decelerating online sales growth could mean developers are in danger of overshooting demand.

ApartmentLove buys OwnerDirect.com

Residential  •  Castanet  •  Globe Newswire

Calgary-based ApartmentLove (APLV-CN) has purchased Kelowna’s OwnerDirect.com, which went from renting ski chalets in the mid-1990s to showcasing thousands of active vacation rental homes in hundreds of resorts around the world. The website has attracted nearly one million visitors in 2022.

Interest rate hike like a ‘hammer to housing’: BMO

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

BMO Capital Markets senior economist Robert Kavcic says the Bank of Canada’s recent move to increase its key interest rate is setting up the housing market for an even deeper correction next year.

Interest rate hikes rein in GTA condo market: Strata

Residential  •  Daily Hive

The impact of the Bank of Canada’s recent 2.25 per cent interest rate hikes is “reverberating” across the region’s housing sector, says Jenelle Tremblett, a real estate agent with Strata, with condo prices dropping significantly.

Toronto new home construction jumped again in June

Residential  •  Toronto Star  •  Ottawa Business Journal

The breakneck pace of new home construction in the Toronto area continued in June, according to new data from the Canada Mortgage and Housing Corporation. However, that could soon be coming to an end, according to some economists.