Calgary’s million-sq.-ft. UXBorough breaks ground

RENX  Residential, Commercial  •  Office, Apartments, Infrastructure, Land  •  Calgary

Western Securities Limited has broken ground on Phase 1 of its million-square-foot Calgary UXBorough mixed-use development, a project which has been in the works for over 15 years.

Congebec to lease Montréal cold-storage facility

RENX  Commercial  •  Industrial  •  Greater Montreal

Congebec has signed a long-term lease for a state-of-the-art $70-million, 219,000-square-foot cold-storage facility under development by Rosefellow and Skyline Commercial REIT in the Mascouche area of Greater Montréal.

Investment in seniors housing soars

Residential  •  Globe and Mail

The seniors housing sector has in recent years become a mainstream product for individuals and institutions. CBRE states total investment volume for the past two quarters alone, of more than $4.6 billion, will match the all-time annual record set in 2015.

Toronto the quietly booming tech town

Commercial  •  New York Times  •  Blogto

In February, Microsoft opened four floors of new office space near the top of a 50-storey tower in downtown Toronto. Apple and Amazon were already in towers just down the street and Google was about to open a new building.

SmartLiving plans 6-building Stoney Creek mixed-use

Residential, Commercial  •  Urban Toronto

Several high-density developments are proposed in Stoney Creek, including Parkway Plaza, a multi-tower proposal from SmartCentres REIT’s SmartLiving. The Chamberlain Architects-designed, multi-phased master-plan would include four mixed-use towers and two mid-rise buildings containing 1,150 residential units.

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.

Summit acquires Vaughan ind. property for $25M

Commercial  •  Canada Newswire  •  RENX

Summit Industrial Income REIT (SMU-UN-T) will acquire a 76,423-square-foot, class-A single-tenant industrial property between Highway 7 and Highway 407 in Vaughan. Summit will pay $25.2 million, well below replacement cost. Closing is expected in April.

BTB acquires Ottawa industrial property for $12.5M

Commercial  •  Canada Newswire  •  RENX

BTB Real Estate Investment Trust (BTB-UN-T) has waived conditions for the acquisition of a high-quality industrial property located in Ottawa. Totalling over 46,000 square feet, the property is to be acquired for a total consideration of $12.5 million.

Canadian acquires two Quebec properties for $8.8M

Commercial  •  Globe Newswire  •  RENX

Canadian Net REIT (NET-UN-X) has acquired two properties in Saguenay, Que., for $8.8 million. The properties are occupied by a grocery store operated under the IGA banner and by a National Bank of Canada branch.

Canadian office REITs may rebound in 2022

Commercial  •  Motley Fool  •  Motley Fool

Dream Office REIT (D-UN-T) and Allied Properties REIT (AP-UN-T) are pure office REITs. The two stocks could spring back to life as more workers return to the usual face-to-face office environment. The increased activity should translate to improved operating performance.

Real World of Real Estate › Podcast: Property tax assessment, appeals with Canadian Valuation Group

Gerald Tostowaryk:

TWC increases stake in Automotive Properties

Commercial  •  Globe Newswire

TWC Enterprises Limited (TWC-T) recently acquired beneficial ownership of, or control or direction over, 893,269 trust units of Automotive Properties REIT (APR-UN-T) at a weighted average price of $13.38 per unit. The units represent 2.29 per cent of issued and outstanding units.

Evergrande restructuring proposal set for July

Residential, Commercial  •  Globe and Mail  •  Bloomberg  •  CNBC

Embattled China Evergrande Group will unveil a debt restructuring proposal for its creditors by the end of July, it said on Tuesday, after concerns about its financial health were renewed by a delay in publishing its annual results.

Developers keep close eye on surging energy costs

Residential, Commercial  •  Bisnow

Energy prices are swelling to new highs in the wake of the Russia-Ukraine war and developers are taking notice. For those developers who have yet to kick off construction, delays or cancellations may be in the cards.

War in Ukraine will see investors turn to real estate

Residential, Commercial  •  Bisnow  •  Bisnow

Barring catastrophic global escalation, the war in Ukraine poses few risks to U.S. commercial real estate and might even spur investors to turn to real estate assets, according to a new report by Marcus & Millichap.

Lawsuits expected over return to the office

Commercial  •  Financial Post  •  Financial Post  •  Wealth Management

We have reached what could be employers’ last chance to return remote workers to the office. However, employers risk constructive dismissal claims whether they call employees back or not, something most have yet to consider.

Surrey soon to be B.C.’s most-populous city

Residential  •  Vancouver Sun

“The evolution of affordable luxury.” That’s the marketing slogan WestStone Group is using to sell its Evolve Condominiums in the vast construction zone that is Surrey Central, the would-be downtown core of the otherwise sprawling suburb of Surrey.

Bank of China mortgages rise most in Ontario

Residential  •  Vancouver Sun

The value of residential mortgages issued by the Bank of China (Canada) during the past six years grew substantially more in Ontario than in B.C., suggesting policies and taxes to curb demand in B.C., particularly Vancouver, have had some effect.

BCREA raises concern on proposed ‘cooling-off’ period

Residential  •  Canadian Lawyer Magazine

The British Columbia Real Estate Association (BCREA) has raised concern about a proposed plan to impose a mandatory “cooling-off” period for resale properties and newly built homes. The BCREA says the province should adopt a mandatory “pre-offer” period instead.

Ottawa to Gatineau migration at highest level in 30 years

Residential  •  Ottawa Citizen  •  Ottawa Citizen  •  Ottawa Citizen

More Ontario residents moved to Quebec in 2021 than in the past 30 years, and most of them were Ottawans who decided the grass was greener on the Gatineau side. Nearly 16,500 Ontarians migrated to Quebec last year, according to CMHC data.