Skyline Industrial REIT: New name, new president

RENX  Commercial  •  Industrial  •  National

The former Skyline Commercial REIT has both a new name – Skyline Industrial REIT – and a new leader overseeing its strategic growth and performance. Mike Bonneveld has succeeded Michael Mackenzie as president of the REIT.

T.O. council OKs major developments before long break

Residential  •  Urban Toronto

Harhay Developments‘ proposal for 900 The East Mall – three 21- and one 20-storey mixed-use condominium buildings – is one of many Toronto City Council approved at its July meeting, the last before the 2018-’22 term ends. The Core Architects-designed buildings comprise 836 units.

Downtown T.O. lags in economic recovery: Study

Commercial  •  Toronto Star

“Death of Downtown”, a new research study, ranked Toronto 49th out of 62 North American cities for downtown recovery, using signals from cellphone towers. The study is a joint product of the University of Toronto and the University of California, Berkeley.

CRE Matters › Research shows grads’ post-pandemic workplace views, preferences

Eliezer Timolien: Senior Research Analyst, Colliers

Bite plans 12-storey Port Moody mixed-use buildings

Residential, Commercial  •  urbanYVR

Bite Design Group proposes two 12-storey mixed-use buildings in Port Moody. They would include 80 residential units; 36 seniors housing units; a 3,500-square-foot childcare facility; 89,500 square feet of office space; 21,600 square feet of commercial/retail space; and 325 parking stalls.

Sponsored by JLL Québec real estate opportunities in tumultuous times

In spite of rising headwinds, investors can benefit from excellent, risk-adjusted returns and long-term income growth by taking advantage of the relative value of Québec real estate investment against its peers across the country and the overall strength of the Québec economy.

WSP proposes eight-storey Halifax residential

Residential  •  Saltwire

WSP Canada Inc., on behalf of property owner Summer Wind Holdings, proposes an eight-storey residential building in Halifax’s South End. The building would offer about 112 residential units, including a penthouse, and 83 underground parking spaces.

Water meter shortage stymies Wpg. apt. development

Residential  •  CBC

The completion of several apartment buildings in Winnipeg is in limbo due to a shortage of water meters the city provides developers. The developers install the devices to monitor the water usage of individual apartment tenants or condominium owners.

IKEA launching ‘Plan and order’ store concept

Commercial  •  Retail Insider

IKEA Canada has opened its first Plan and order point concept in Boisbriand in the heart of Montreal’s North Shore community, with plans to roll out the concept to many other locations across Canada.

The Real Brokerage announces graduation to TSX

Residential  •  Business Wire

The Real Brokerage Inc. (REAX-X), an international, technology-powered real estate brokerage, announced it has received final approval to list its common shares on the Toronto Stock Exchange.

Minto Apartment could be poised for a rebound

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

Ottawa-based Minto Apartment REIT (MI-UN-T) owns a portfolio of 30 rental properties as at March 31. The majority of the properties are located in Ottawa and Toronto. This small-cap security has a market capitalization that is just below $1 billion, currently at $946 million.

REIT/REOC financial results

Residential, Commercial  • 

Choice Properties REIT, (CHP-UN-T), Business Wire
Mainstreet Equity Corp., (MEQ-T), Canada Newswire

CPP increases stake in U.K. shopping centre

Commercial  •  Canada Newswire  •  Business Wire

CPP Investments has increased its ownership stake in Bullring & Grand Central in Birmingham, U.K., to 50 per cent, having acquired an additional 33.3% stake from Nuveen Real Estate. CPP Investments’ total exposure to Bullring is now approximately $432 million Cdn.

Related Cos. joins fray for NYC Casino sites

Commercial  •  New York Post  •  The Real Deal

As New York gets ready to issue the casino licenses in New York City, more developers are pitching their sites for gaming. Related Cos. is eyeing a site in the next phase of Hudson Yards for a possible future casino.

SL Green posts $44M loss In Q2

Commercial  •  Bisnow

SL Green posted a net loss in Q2, as leasing deals dropped back and company leaders foreshadowed a ramped-up focus on shedding debt. During Q2, SL Green acquired 450 Park Ave., in Manhattan from Oxford Properties for $445 million US.

Industrial sites start flipping to data centres

Commercial  •  Bisnow  •  Bisnow

Industrial real estate firms are beginning to play a greater role in the data centre development landscape, a trend that could accelerate as the logistics sector encounters its first hiccup since the start of the pandemic.

Project cancellations will worsen affordability: CIBC

Residential  •  Daily Hive

The decision by builders and developers to put their new housing development projects on hold due to the historic housing correction, currently well underway across Canada, could have long-term ramifications on affordability, according to a new market bulletin by CIBC.

T.O. listings being cancelled at ‘unprecedented’ rates

Residential  •  Toronto Star

Sellers terminated 2,822 condo listings in June, a 643 per cent increase from 380 cancellations in January according to a report from Strata.ca, a website focusing on the Greater Toronto Area condominium market.

Homebuyers muscle in with heavy demands

Residential  •  Globe and Mail (Sub. required)

In a nearly dormant real estate market, some sellers are confronting the revival of an anachronistic practice: Nervous buyers are making their offer to purchase a property conditional on the sale of the one they already own.

Victoria to consider rental-subsidy program

Residential  •  Victoria Times Colonist

To combat rising rental rates while encouraging new rental projects, the City of Victoria will consider turning a portion of the property taxes it gets from new rental buildings into rental subsidies.