NorthWest debuts in U.S. with $765M acquisition

RENX  Commercial  •  Toronto / GTA, International

NorthWest Healthcare Properties REIT (NWH-UN-T) has made its debut in the U.S. market with a $765.2 million health care portfolio acquisition, expected to close in Q2 of this year.

InterRent reports record acquisition year, rising revenues in 2021

RENX  Residential  •  Apartments  •  National, Ottawa

InterRent Real Estate Investment Trust acquired a record number of units and saw both its occupancy rate and rents increase last year.

Despite rising rates, conflict, CRE to stay robust: Experts

Commercial  •  Globe and Mail  •  RENX

Despite rising interest rates, strained supply chains and geopolitical instability, Canadian commercial real estate investors are unlikely to be dissuaded this year, according to property services experts including Paul Morassutti, vice-chairman of CBRE Ltd. and Colliers’ Daniel Holmes.

Honda’s Ontario plants to get $1.4B facelift

Commercial  •  Windsor Star

Honda is set to announce a $1.4-billion retooling of their Alliston, Ont., assembly plants. The retooling will focus on moving to production of hybrid models of the vehicles as Honda moves towards a fully electric line of automobiles by 2040.

Weston sets out on a new vision for Loblaw

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

Galen G. Weston is setting out a new vision for Loblaw Cos. (L-T) by acquiring a national health and wellness business in Lifemark while at the same time overseeing Weston-controlled Choice Properties REIT’s sale of long-held office buildings for $749 million.

Sponsored by Trez Capital North America’s continued drive & demand for real estate

North America has experienced a boom in the real estate market across many asset classes over the course of the pandemic.

Peterson, Coromandel plan Vancouver hotel, residential

Residential, Commercial  •  urbanYVR  •  RENX

Peterson Group and Coromandel Properties have acquired a development site on the east side of Cambie in Vancouver, with plans for a hotel, residential tower and artist studios. The 0.73-acre development site was purchased from Wall Financial.

Darwin, QuadReal propose 193-unit rental project

Residential  •  urbanYVR  •  RENX

North Vancouver-based Darwin Properties and QuadReal Property Group are proposing a 100 per cent rental project with 193 units in a six-storey building known as Maplewood Plaza at 229 Seymour River Pl. in the District of North Vancouver.

Landa proposes 26-storey condo tower in Surrey

Residential  •  urbanYVR

Developer Landa Global has acquired a .72-acre site in Surrey from Dava Development, and proposes to build Lucent,a 26-storey condo tower with 400 units. WA Architects’s design is said to be inspired by the Canadian National Vimy Memorial in France.

Mohican proposes 19-storey Etobicoke rental building

Residential  •  Urban Toronto

Mohican Holdings has proposed a five-storey podium above which another 14 storeys of rentals will rise at 340 Mill Rd. in Etobicoke. The BDP Quadrangle-designed building would include 191 purpose-built rental units.

The Long View › Rising prices and rising real estate today. Why? A quick explanation.

Richard Crenian: President, ReDev Properties

REIT fourth-quarter/year-end financial results

Residential, Commercial  • 

Firm Capital Apartment REIT, (FCA-UN-X), Globe Newswire
Granite REIT, (GRT-UN-T), Business Wire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire

Walmart adding new tech hubs in Toronto, Atlanta

Commercial  •  blogTO  •  Canada Newswire  •  Daily Hive

Walmart Inc. (WMT-N) plans to hire more than 5,000 new associates globally to its tech hubs during the current fiscal year. Walmart Global Tech will also add two new global tech hubs in Toronto and Atlanta, increasing the total count to 16.

U.S. office buildings face $1.1T obsolescence problem

Commercial  •  Bloomberg

One of the tallest office towers in St. Louis lost 96% of its appraised value. Denver’s former World Trade Center complex faces foreclosure. An oil company’s vacant Houston workplace sold this year at a $67.4 million loss to lenders.

Not all NYC warehouses are created equally

Commercial  •  Bisnow

Industrial players says good warehouse deals are increasingly hard to come by in New York City, pushing them to seek investments outside the five boroughs. Frequently, sellers’ expectations are out of step with reality, driven by recent soaring prices.

Google buys Warsaw HUB office complex for $972M

Commercial  •  Retail & Leisure International  •  9TO5Google  •  IPE Real Assets

Ghelamco has sold office buildings with a retail and service passage in The Warsaw HUB complex to Google Poland. Google, which paid $972 million Cdn, is one of the main tenants of the complex, occupying over 215,000 square feet of office space.

Average home price hit record $816,720 last month: CREA

Residential  •  Toronto Star  •  Canada Newswire

The Canadian Real Estate Association (CREA) says the national average home price hit a record $816,720 in February, as supply slowly started to return to the market and sales activity picked up. The average price was up by 20.6 per cent year-over-year.

Annual pace of housing starts up in February: CMHC

Residential  •  Financial Post  •  Canada Newswire

Canada Mortgage and Housing Corporation (CMHC). says the annual pace of housing starts in February rose eight per cent compared with January. The seasonally adjusted rate of housing starts came in at 247,256 units for February, up from 229,185 in January.

Toronto rents see dramatic year-over-year increase

Residential  •  Daily Hive

The March 2022 National Rent Report by Rentals.ca Bullpen Research & Consulting shows that while rent dipped last year, they’ve since rebounded. In Toronto, rents fell by 20% in February 2021, they’ve since almost balanced out by rising 16% since then.

Business licences required for Nanaimo short-term rentals

Residential  •  Victoria Times Colonist

Short-term rental units and bed-and-breakfast operations in Nanaimo will soon have to take out a business licence to operate. Applications are being accepted for business licences as of April 1.