Sunita Mahant’s passionate case for diversity, inclusion

RENX  Commercial  •  Human Resources  •  National, Toronto / GTA

Ivanhoé Cambridge commercial real estate lawyer Sunita Mahant makes a passionate business case for why diversity and inclusion should be a priority in her industry.

Avenue Living adds 3 apt. buildings to Calgary portfolio

RENX  Residential  •  Apartments  •  Calgary

Avenue Living Asset Management Ltd. has acquired three apartment properties in Calgary comprising 764 units and increasing its share of Calgary’s rental apartment market to over 4.5 per cent. The buildings were acquired for $138 million.

Bosa unveils new details on Brentwood West

Residential, Commercial  •  urbanYVR

Bosa Development has unveiled new details on Brentwood West, a mixed-use, 39-, 42-,  54- and 64-tower project across from Brentwood Town Centre in Burnaby. The four-phased development totalling 1,427 residential units consists of seven individual parcels over 3.27 acres. Bosa owns three of them.

CAPREIT acquires $281M Mtl.-area apt. portfolio

RENX  Residential  •  Apartments  •  Greater Montreal, British Columbia

Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (CAR-UN-T)  has paid $281 million to acquire six luxury modern, recently constructed apartment buildings in Greater Montréal.

Firm Capital acquires 50% stake in Edmonton industrial

Commercial  •  Globe Newswire

Firm Capital Property Trust (FCD-UN-X) has acquired a 50 per cent interest in six multi-tenant industrial properties in Edmonton. The acquisition price for 100% of the property is approximately $36.5 million, excluding transaction costs. The Edmonton portfolio is 93% occupied.

First building in Wesbild Van. complex nearly sold out

Commercial  •  Business In Vancouver  •  RENX

The first 170,000-square-foot building in Wesbild/Kingsett Capital’s Marine Landing, Canada’s largest multi-storey, mixed-use industrial-office complex, has nearly sold out following its March 4 groundbreak. The industrial and the office units are selling for $750-$800 and $950-$1,000 per square foot, respectively.

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.

Victoria-area F.N. plans to lease industrial lots

Commercial  •  Victoria Times Colonist

A cleaned-up 4.5-acre Rock Bay industrial site is intended to become an economic generator for the Songhees and Esquimalt First Nations after their company Matullia Holdings completes its purchases from B.C. Hydro on June 30. Matullia plans to lease the lands.

A1 Development proposes 25-storey mixed-use

Residential, Commercial  •  Urban Toronto

A1 Development has proposed to build Hickory Tree Tower, an architecturally distinctive 25-storey mixed-use condominium in Weston. The Dialog-designed building would include 253 residential units – five studios, 135 one-bedrooms, 85 two-bedrooms and 28 three-bedrooms – in addition to ground-level retail.

Core Development proposes nine-storey mixed-use

Residential  •  Urban Toronto  •  RENX

Core Development Group proposes a Studio JCI-designed, nine-storey, L-shaped, mixed-use building at 1111 Danforth Ave., east of Donlands subway station. The building would include 228 residential rental units – 159 studios, 13 two-bedrooms, 15 three-bedrooms and 41 four-bedrooms – plus retail/commercial space.

B.C. mall ‘natural extension’ of earlier buy: Manulife

Commercial  •  Retail Insider

Manulife Investment Management’s Gregory Sweeney calls the recent acquisition of Squamish, B.C.’s Garibaldi Village I shopping centre “a natural extension” of its purchase of the adjacent Garibaldi Village II property in 2011. “Part of the buildings actually abut each other.”

REIT fourth-quarter/year-end financial results

Residential, Commercial  • 

InterRent REIT, (IIP-UN-T), Business Wire
Primaris REIT, (PMZ-UN-T), Business Wire

Colliers discontinues operations in Russia, Belarus

Commercial  •  Globe Newswire  •  Bisnow  •  Global News

Colliers has discontinued its business in Russia and Belarus, effective immediately, after more than 28 years of operations. As well, Colliers’ office in Kyiv is closed and all business operations there have been suspended.

PSP invests in BGO’s U.K. net-zero office project

Commercial  •  Built Environment Networking  •  IPE Real Assets  •  CoStar

Welput, a specialist central London office fund managed by BentallGreenOak (BGO), has recapitalised its ownership of a landmark site at 105 Victoria St., and secured a $676 million Cdn development finance facility co-invested by PSP Investments.

The cloud over commercial real estate lingers

Commercial  •  Al Jazeera

Facebook committed to lease 730,000 square feet of real estate at a former post office building in midtown Manhattan in 2020 only after Vornado Realty Trust agreed to pay $150 million to Facebook as an incentive to close the deal, new details reveal.

U.S. REIT and CRE outlook remains positive: JLL

Commercial  •  JLL Blog  •  Bisnow

U.S. REIT M&A volume soared to $140 billion in 2021, marking one of the strongest years on record. JLL’s Capital Markets M&A and Corporate Advisory group’s M&A and Strategic Transactions Monitor report indicates a significant growth in deal size and REITs.

More sellers enter housing market in February: RBC

Residential  •  RBC blog  •  Financial Post

One month doesn’t make a trend but if February is any indication, more sellers may be making their way into Canada’s housing market. Early results from local real estate boards showed notable month-to-month increases in new listings across major markets.

Canadians took out fewer new mortgages in Q4

Residential  •  Toronto Star  •  Financial Post

Canadians took out fewer new mortgages even before interest rates began to rise last week, but consumer debt continued to increase in the fourth quarter. An Equifax report said the number of new mortgages fell 8.1 per cent year-over-year in Q4.

Where is Metro Van. housing headed in 2022?

Residential  •  BC Business  •  Globe and Mail (Sub. required)

After setting an all-time high in 2021, Metro Vancouver sales are expected to moderate due to the decrease in carrying-cost affordability of higher prices seen through 2021 and a coming rising interest rate environment, says the Real Estate Board of Greater Vancouver.

At $49M, this is the most expensive condo in Vancouver

Residential  •  Western Investor

In what is considered the largest and most expensive oceanfront condominium currently listed in Vancouver, a penthouse at the Three Harbour Green in Coal Harbour has just hit the market for $49 million. The listing agency is Macdonald Realty.