CPP’s Machin: Stay calm amid economic storm

RENX  Commercial  •  Investment  •  National, Alberta

On a day when oil prices, energy stocks and broader global financial markets crashed, the president and CEO of  CPP Investments offered two messages of comfort to a business audience at the Calgary Chamber of Commerce.

COVID-19 having minimal impact on RE – so far

RENX  Residential, Commercial  •  Human Resources, Infrastructure  •  National

The COVID-19 (novel coronavirus) hasn’t yet put a major dent in the Canadian commercial real estate or housing markets, but a great deal of uncertainty remains surrounding the potential impact of the global outbreak.

Tycoon sues Concord Pacific president for $245M

Residential, Commercial  •  Business In Vancouver

Singaporean billionaire Oei Hong Leong is suing Concord Pacific president Terry Hui over an alleged “conspiracy” to tie up valuable downtown Vancouver waterfront property in litigation to hamper efforts to develop the lands with other Canadian or international developers.

23-storey office tower proposed for 450 West Georgia

Commercial  •  Vancouver Courier

A 23-storey office tower with retail space at street level is proposed for 450 West Georgia, next to Westbank’s 24-storey Deloitte Summit office building at 400 West Georgia. W.T. Leung Architects filed a rezoning application for the project.

Equiton acquires 48-unit Toronto apartment building

Residential  •  Equiton media release

On Wednesday, the Equiton Residential Income Fund completed the purchase of a 48-unit apartment building in Toronto. The property consists of a single 3½-storey building in the affluent Beaches neighbourhood on approximately 0.6 acres and contains approximately 26,000 square feet of area.

Sponsored by MNP Is your business model static or dynamic?

How technology can improve your financial management and property engagement Investment and development prospects across the Canadian commercial real estate (CRE) industry continue to pose unique challenges and opportunities.

Caisse’s Thomas Birch has $5.7B under his belt

Commercial  •  Financial Post (Sub. required)

Located in Montreal’s Place Ville Marie, investment and development hub Espace CDPQ is 55,000 square feet of glass and gleaming white spaces. Huddled behind a desktop, Thomas Birch watches the collective weight of $1.5 billion swish around the market.

HOOPP taps CIO Jeff Wendling to be next CEO

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

The Healthcare of Ontario Pension Plan has tapped chief investment officer Jeff Wendling to lead the organization after Jim Keohane retires as CEO next month. Wendling has been employed at the hospital and healthcare pension plan for more than 20 years.

Zibi bringing new life to Ottawa-Gatineau waterfront

Residential, Commercial  •  Globe and Mail  •  RENX

When thinking of Canada’s top waterfront cities, the usual suspects like Vancouver, Halifax and Toronto come to mind. Ottawa? It doesn’t register. However, the developers behind the Zibi waterfront community, a first-of-its-kind cross-provincial development, are looking to change that.

Yonge and St. Clair is often overlooked

Residential, Commercial  •  Toronto Star

OPINION: There’s no cute nickname for Yonge and St. Clair. Blessedly so, perhaps, as neighbourhood nicknames are often created in an effort to make them trendy. Sometimes it’s best to lay low in this hyperinflated city.

Winnipeg bowling alley renovated as mixed-use

Residential, Commercial  •  Winnipeg Free Press

It was born in 1931 as the Uptown Theatre, then reborn as a bowling alley in 1960. However, by 2021, the former home of the Academy Uptown Lanes will have a new identity as the Uptown Lofts, a Globe Capital Management mixed-use development.

Huge Downsview property fertile city-building site

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

OPINION: Toronto discovered some hidden treasure last week: 520 acres of land in Downsview, next to four mass-transit stations that could help absorb the city’s rapid growth. But, remarkably, not everybody is happy about it.

Slate Office acquires Florida office building for $45.5M

Commercial  •  Business Wire

Slate Office REIT (SOT-UN-T) announced today that it has agreed to acquire Cypress Financial Center in Fort Lauderdale, Fla., for US$45.5 million, or US$226 per square foot and an estimated going-in cap rate of 7.4 per cent.

CCA cancels 2020 conference slated for San Diego

Commercial  •  Daily Commercial News

The Canadian Construction Association (CCA) has decided to cancel its 2020 conference scheduled for San Diego March 15-18 due to coronavirus concerns. The decision was made by the association’s board of directors following a number of emergency meetings.

Hotel owners face reality of coronavirus outbreak

Commercial  •  National Real Estate Investor  •  National Real Estate Investor

After weeks of conference cancellations, corporate travel restrictions and cratering stock values, U.S. lodging owners are pulling guidance and cutting expenses while the spread of the virus socks hotel demand. Ryman Hospitality Properties Inc. pulled its forecast for 2020 on Sunday.

Fear, self-quarantine could speed up retail transformation

Commercial  •  Toronto Star

OPINION: The retail world is already fatigued after almost a decade of e-commerce and technology threats. Add to this the impact of the coronavirus and it is like a perfect storm that will separate the weak retailers from the stronger.

Can B.C. fix its condo insurance crisis?

Residential  •  Business In Vancouver

The cost of catastrophes, construction, claims and reinsurance has pushed insurance premiums on many British Columbia condominiums through the roof. It’s a complex market issue with no easy fix. And for some, it’s about to get worse.

Blauson proposes two-tower development

Residential  •  Urban Toronto

Blauson Asset Management is looking to add a pair of towers to its site at 320 McCowan Rd. in Scarborough, in close proximity to the proposed Eglinton East LRT. The 27- and 31-storey towers would sit atop a shared six-storey podium.

Ottawa-Gatineau starts jump 45% in February: CMHC

Residential  •  Ottawa Business Journal  •  Canada Newswire  •  Calgary’s Business

Bucking the national trend, February housing starts in Ottawa-Gatineau surged 45 per cent year-over-year, the Canada Mortgage and Housing Corporation (CMHC) reported Monday. The number of single-detached starts more than doubled to 176, while new multi-unit builds jumped 38 per cent.

Mortgage market bucks trend, returns to growth

Residential  •  Globe Newswire

After a subdued 2019, the Canadian mortgage market appears to have adjusted to new mortgage qualifying rules enacted in 2018, with declines in mortgage rates over the first half of the year helping spur demand, the Q4 2019 TransUnion  Industry Insights Report indicates.