Hamilton airport attracts flurry of industrial sales, development

RENX  Commercial  •  Industrial, Land  •  Ontario

John C. Munro Hamilton International Airport has grown to become one of Canada’s largest airports for domestic air-cargo distribution, and developers, investors and users are scooping up land around it for logistics and fulfillment centres.

Canada ICI grows presence, opens Vancouver office

RENX  Commercial  •  Investment  •  National, Metro Vancouver

Commercial mortgage origination and asset management firm Canada ICI Capital Corporation has opened a corporate office in Vancouver to significantly increase its presence in Canada’s third-largest urban market.

Oxford JV’s on 3M-sq.-ft. Philadelphia life sciences hub

Commercial  •  Business Wire  •  RENX  •  RENX

Oxford Properties Group and Ensemble/Mosaic have entered into a strategic partnership to own and develop up to three million square feet of life sciences properties at Philadelphia’s Navy Yard. The agreement includes Oxford’s investment in five Ensemble life sciences assets.

OMERS’ real estate assets post 15.9% return in 2021

Commercial  •  Globe and Mail (Sub. required)  •  Global News

The Ontario Municipal Employees Retirement System’s (OMERS) real estate assets posted a 15.9 per cent return in 2021 versus a benchmark of 6.1 per cent. OMERS’ Oxford Properties increased its allocation to industrial as it moved away from retail and office buildings.

Vancouver looking to put limits on self-storage buildings

Commercial  •  Globe and Mail

Vancouver city staff are recommending mini warehouses be banned from industrial areas near transit, something that would have prohibited a Pockit Self Storage development, and require self-storage buildings in any industrial zone to have non-storage uses on the ground floor.

Prince Rupert Port plans second container terminal

Commercial  •  Western Investor  •  Business In Vancouver  •  RENX

The Prince Rupert Port Authority and DP World have started a two-year feasibility study on adding a second container terminal at what is already the third-largest container port in Canada.

Sponsored by Caivan The Saw Whet, an exclusive connected oasis

Discover The Saw Whet by Caivan, a modern, 6-storey, boutique-style condominium residence in South Oakville’s exclusive Glen Abbey Encore community. Perfectly situated, it offers access to nature-infused parks, major transportation links and Oakville’s vibrant downtown shopping and entertainment district.

Midtown West proposes 40-storey mixed-use

Residential, Commercial  •  Urban Toronto

Midtown West Residences Ltd. proposes a 40-storey mixed-use building at 699 Lawrence Ave. W. in Toronto’s Yorkdale-Glen Park. The Core Architects-designed development would include 360 residences – 46 studios, 183 one-bedrooms, 43 one-bedroom-plus-dens, 52 two-bedrooms and 36 three-bedrooms – plus 1,750 square feet of retail.

Sienna acquires Barrie care centre for $26M

Residential  •  Globe Newswire  •  RENX

Sienna Senior Living (SIA-T) has an agreement to purchase the Woods Park Care Centre in Barrie, Ont., for $26 million. Sienna is also in advanced negotiations to acquire a 50% interest in a new private-pay retirement residence in Saskatchewan.

LAUFT plans huge flexible work space expansion

Commercial  •  Retail Insider  •  RENX

Founder and CEO Graham Wong has a grand vision for co-working concept LAUFT – to grow it to be the “Starbucks of space” as the on-demand network for flexible spaces for remote workers and organizations grows in popularity and momentum.

Bell shutting downtown London office

Commercial  •  London Free Press

Telecommunications giant Bell Canada is shutting its downtown London office at 100 Dundas St., a building that carried its name for many years. Bell will consolidate its workforce at a Colborne Street address.

Real World of Real Estate › Podcast: NAI’s Chad Griffiths with host Gerald Tostowaryk

Gerald Tostowaryk:

CPP to invest up to $449M in Indian office JV

Commercial  •  Canada Newswire  •  IPE Real Assets

CPP Investments and India’s RMZ Corp., have entered into their second joint venture to develop and hold office space in key cities across India. The total aggregate capital commitment by CPP will be up to $449 million.

WP Carey to acquire CPA:18 for $2.7B

Commercial  •  Financial Post  •  CP Executive

REIT WP Carey Inc. will buy public non-traded REIT Corporate Property Associates 18 Global (CPA:18) in a $2.7 billion cash-and-stock deal. WP Carey said the deal would add Corporate Property Associates’ self-storage assets, and also mark its exit from investment management.

Seritage exploring sale as REIT M&A builds

Commercial  •  Bisnow  •  Business Wire  •  CNBC

Seritage Growth Properties (SRG-N) is exploring a possible sale, Bloomberg reports, citing anonymous sources. The company was formed in 2015 to sell off a retail real estate portfolio acquired from Sears Holdings, including former Sears and Kmart locations.

Russian invasion adds uncertainty to housing market

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

OPINION: The pandemic and Russia’s invasion of Ukraine have added massive amounts of uncertainty to the global financial system. We should consider the possibility of disappointments ahead for both the price of stocks and the price of houses.

Katasa Groupe proposes nine-storey Ottawa apt. building

Residential  •  Ottawa Business Journal

Gatineau-based Katasa Groupe + Développement has proposed to replace an Ottawa strip mall with a nine-storey apartment building. Katasa’s proposed building at 1509 Merivale Rd., would contain 203 residential suites as well as a two-storey underground parking garage with about 110 spaces.

Devimco breaks ground on Longueuil residential towers

Residential  •  Daily Commercial News

Groupe Devimco has announced a financial partnership with the Fonds immobilier de solidarite FTQ for the construction of its two-tower Sir Charles Condominiums project in Longueuil, the first phase of a large multi-purpose project in the vicinity of the downtown.

Nearby communities cash in on London’s land shortage

Residential  •  London Free Press  •  London Free Press  •  CBC

London is running short on land in the highly coveted north and west areas of the city, leading builders to go to neighbouring Middlesex Centre instead – robbing the city of big-bucks revenue, London-based Wastell Homes and other developers say.

Hot B.C. housing market adds billion-dollar budget boost

Residential  •  Western Investor

Despite the B.C. government seeing a billion-dollar increase in taxes related to home sales, there was little help in the February 22, 2022, provincial budget for affordable housing.