JL Developments buys 27 acres of Edmonton dev. land

RENX  Residential, Commercial  •  Retail, Apartments, Homes, Land  •  Edmonton, Saskatchewan

A 27-acre tract of Edmonton development land, known as High Pointe at Clareview, is about to see a rapid burst of construction after being acquired by JL Developments.

Fieldgate buying, building to grow its retirement portfolio

RENX  Residential  •  Seniors Housing  •  Ontario, Toronto / GTA

Fieldgate Retirement Living emerged from the Fieldgate Group of Companies in 2015 and is on an increasingly steep growth trajectory which it plans to continue as Ontario’s population ages.

15,000 GTA residential construction workers on strike

Residential  •  Toronto Star  •  Globe Newswire

More than 15,000 residential construction workers are on strike over compensation and workers’ rights. It’s being called the biggest strike in the sector in 20 years, which could delay the construction of high-rise and low-rise homes in the GTA.

Couche-Tard in talks to combine with $21B U.K. retailer

Commercial  •  Canadian Grocer  •  RENX

Alimentation Couche-Tard Inc. (ATD-A-T) is reportedly exchanging proposals in a multibillion-dollar combination with a British retailing giant. Talks between the owner of Circle K and privately held EB Group would value the latter at about $21 billion Cdn.

Dream Residential REIT expecting $161M IPO

Residential  •  Financial Post  •  Bisnow  •  Canada Newswire

Toronto-based Dream Residential REIT expects to close its $161 million offering and begin trading on May 6. The REIT will be partially managed by a unit of Dream Unlimited Corp., the property group of Toronto real estate magnate Michael Cooper.

Sponsored by Austin Birch Austin Birch assesses effective marketing in new report

Austin Birch, the GTA’s specialized pre-construction sales services company, shares insights into compelling marketing strategies in the latest Austin Birch Report. The report delves into successful tools, platforms and messaging that help developers cut through in a particularly competitive market.

REITs saved billions via tax exemptions: Think tank

Residential, Commercial  •  Toronto Star

After a bruising start to the COVID-19 pandemic, CAPREIT bounced back in 2021. According to estimates by Ottawa-based think-tank Canadians for Tax Fairness, it also saved approximately $74.94 million last year through a federal tax exemption for companies of its kind.

Artis increases interest in Dream Office to 12.22%

Residential, Commercial  •  Canada Newswire  •  RENX  •  RENX

Artis Real Estate Investment Trust has increased its position, together with partnerships managed by Sandpiper Group, in  Dream Office REIT (D-UN-T) to approximately 12.22 per cent of the 52,724,346 issued and outstanding voting units.

Ivanhoé CEO on asset allocation, CRE diversity

Commercial  •  Bisnow  •  RENX

PODCAST:Bisnow Reports sits down with Nathalie Palladitcheff, the CEO and president of Ivanhoé Cambridge, a subsidiary of Caisse de dépôt et placement du Québec, an institutional investor that manages the pension plans and insurance programs of Québec.

Supply-chain issues likely throughout 2022: Port of Mtl.

Commercial  •  Montreal Gazette

Supply-chain logjams around the world are likely to persist for several more months with containers remaining as elusive as ever, according to Martin Imbleau, chief executive of the Montreal Port Authority, Canada’s second-largest port.

50-year-old Burnaby apartment sells for $12M

Residential  •  Western Investor

An iconic Burnaby rental building that is more than 50 years old was snapped up. The 41-suite, three-storey Seton Place just sold after being put on sale for $12 million, a price reduction of $1.25 million, according to Goodman Commercial Inc.

REIT business updates/financial results

Residential, Commercial  • 

ERES REIT, (ERE-UN-X), Globe Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire

How is the war in Ukraine impacting CRE investors?

Commercial  •  Globe and Mail

The global commodity price surge that has followed Russia’s invasion of Ukraine is impacting Canada’s commercial real estate market – in both negative and positive ways. Both building and borrowing cost more, so Canadian CRE properties are more expensive than ever, according to CBRE.

Fire sale continues for Manhattan hotels

Commercial  •  Globest.com

Buyers have been snapping up hotels at bargain prices in Manhattan. The Sheraton New York Times Square reportedly sold for half the $373 million MCR and Island Capital Group said they paid in 2006.

Tim Hortons parent reports Q1 profit

Commercial  •  Toronto Star  •  Canada Newswire  •  Globe and Mail

In a sign Canadian workers are returning to downtown offices, Tim Hortons says sales at its “super urban” restaurants are rebounding to near pre-pandemic levels. Restaurant Brands International Inc. (QSR-T)  said sales at its downtown locations jumped 30 per cent year-over-year.

Great Gulf acquires 787 residential lots in Texas

Residential  •  Canada Newswire

Great Gulf Group, together with partners Westdale Properties and a large Canadian institutional investor, has acquired 787 residential lots across seven master-planned communities in San Antonio, Austin and Houston, from Forestar Group to build, own, and operate dedicated single-family rental homes.

Aspen Ridge proposes 11-storey mixed-use

Residential, Commercial  •  Urban Toronto

Aspen Ridge Homes has proposed a 10- to 11-storey mixed-use building at 1303 Yonge St. The BDP Quadrangle-designed building would include 102 residential units – all three-bedrooms – in addition to 41,827 square feet of office space and 2,357 square feet of retail.

Calgary real estate sets April record for sales

Residential  •  Calgary Herald  •  Financial Post

Calgary’s real estate market continued on its blistering pace in April – gaining of six per cent year-over-year – but there are finally signs that it may start to cool off, according to Ann-Marie Lurie, Calgary Real Estate Board’s chief economist.

Greater Vancouver home sales down in April

Residential  •  Toronto Star  •  Canada Newswire  •  CBC

The Real Estate Board of Greater Vancouver says home sales in the region fell in April and returned to more historically typical levels for the month. Residential home sales totalled 3,232 in April, down from 4,908 in April 2021 and 4,344 homes in March 2022.

Blind bidding sprawling into the suburbs

Residential  •  Financial Post

The increase in the suburbs’ popularity during the pandemic is evidenced by bidding wars more frequently breaking out in the suburban hinterlands. Over 85 per cent of freehold properties sold over the list price in Ajax, Clarington, Kitchener, Oshawa and Whitby.