Investment in Hamilton CRE on record pace in 2021

RENX  Residential, Commercial  •  Industrial, Office, Retail, Apartments, Land  •  Ontario

Hamilton had a record-breaking $434.42 million in commercial real estate transactions in the third quarter and is on pace for a record year, topping the $1.2 billion of 2020.

Amazon Web Services to invest billions in Calgary hub

RENX  Commercial  •  Industrial, Technology  •  Calgary

Amazon Web Services (AWS) is about to provide an enormous shot in the arm to Alberta’s small-but-growing tech sector. The global cloud services and infrastructure giant will create a new AWS Canada West Region based in Calgary.

Edge development growing in small GTA urban areas

Commercial  •  Globe and Mail

Edge development – the construction of new commercial and industrial facilities at the fringes of megacities – is experiencing a resurgence in the GTA. Ontario Power Generation plans to break ground early in the new year for its new headquarters in Clarington, Ont.

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Don Wilcox: Managing Editor

Ottawa committee approves three-warehouse plan

Commercial  •  Ottawa Citizen  •  RENX  •  RENX

Three one-storey warehouses eyed for an Ottawa business park received quiet support from the majority of planning committee members on Monday. Manulife owns the land at 2020 Walkley Rd. and 2935 Conroy Rd. and has hired Canderel to manage the warehouse project.

Sponsored by Yardi Watch these three transformational property management trends

It’s heartening that growth in the Canadian real estate industry offers a sign that recovery from pandemic-driven slowdowns is in full swing. As the rebound progresses, three emerging trends will strongly influence the future of property management:

Office real estate not down for the count: Mitchell

Commercial  •  Toronto Star

Shying away from shiny investments in favour of long-term stakes in great businesses is part of Starlight Capital’s strategy. CEO Dennis Mitchell unpacks his firm’s philosophy on great businesses, creating a diverse team and the office real estate market.

New tech companies scooping up office space: Cooper

Commercial  •  Bloomberg

VIDEO: Michael Cooper, chair and CEO of Dream Office REIT (D-UN-T) talks about the state of the Canadian office market and the company’s latest earnings results.

Ford touts funding pledge for highway project

Commercial  •  Daily Commercial News  •  Toronto Star  •  Toronto Star

Ontario Premier Doug Ford has committed to fully funding a controversial Greater Toronto Area highway project that’s been in the planning stages for decades, though it hasn’t yet been fully costed by his Progressive Conservative government.

Hexo to close three cannabis facilities

Commercial  •  Toronto Star

Hexo Corp. (HEXO-T) will close three recently acquired facilities and lay off about 155 workers as it works to streamline production. The Ottawa-based cannabis company says it will shutter properties in Kirkland Lake and Brantford, Ont., and in Stellarton, N.S.

Couche-Tard, McGill partner on retail innovation lab

Commercial  •  Canada Newswire  •  RENX

In partnership with Alimentation Couche-Tard Inc. (ATD-A-T), McGill University hosted the official inauguration of the retail innovation lab at the Bensadoun School of Retail Management on Monday. The lab fosters collaborations between key players in retail, emerging technologies, and start-ups.

REIT third-quarter financial results

Residential, Commercial  • 

BTB REIT, (BTB-UN-T), Canada Newswire
CT REIT, (CRT-UN-T), Canada Newswire
InterRent REIT, (IIP-UN-T), Business Wire
Summit Industrial Income REIT, (SMU-UN-T), Canada Newswire

CRE industry approves Biden infrastructure plan

Commercial  •  CP Executive  •  La Presse  •  Daily Commercial News

Commercial real estate trade groups are applauding the passage of $1.5 trillion U.S. bipartisan infrastructure bill as a long-overdue investment that will provide a boost for the economy and the industry. The Infrastructure Investment and Jobs Act passed on Nov. 6.

Sydney Airport agrees to $21.8B buyout

Commercial  •  Reuters  •  Sydney Airport Holdings media release  •  BBC

Sydney Airport Holdings has agreed to accept a $21.8 billion Cdn takeover bid from an infrastructure investor group in one of Australia’s biggest buyouts. Sydney Aviation Alliance is comprised of Australian investors IFM Investors, QSuper, AustralianSuper and U.S.-based Global Infrastructure Partners.

Greystar sells U.S. multires fund for $3.6B

Residential  •  PR Newswire

Greystar Real Estate Partners has agreed to sell a 30-property, U.S. multifamily portfolio for approximately $3.6 billion. The fund was formed as part of Greystar’s flagship U.S. rental housing value-add fund series and focused on well-located, institutional quality apartment communities.

Amazon pays $165M for Orange County office campus

Commercial  •  The Real Deal  •  Toronto Star

E-commerce behemoth Amazon has purchased a 30-acre office campus from Irvine-based developer Greenlaw Partners and New York-based Cerberus Capital Management for $165 million. The deal comes to about $258 per square foot. Greenlaw and Cerberus paid $110 million for the property in 2014.

Vancouver portfolio pays off for InterRent REIT

Residential  •  Ottawa Business Journal  •  RENX

Buoyed by robust rental activity in its growing West Coast portfolio, InterRent REIT (IIP-UN-T) posted a strong third quarter as occupancy rates continued to rebound post-pandemic. The Ottawa-based REIT’ts funds from operations rose 12.3 per cent year-over-year to $19.3 million.

B.C. extending deadline for property transparency

Residential, Commercial  •  Globe and Mail  •  Western Investor

The B.C. government is extending by a year the deadline for corporations, partnerships and trusts that own property to disclose who is the ultimate owner, a move that will delay efforts to shine more light on the hot housing market.

New Laval, Longueuil mayors to focus on housing

Residential  •  Montreal Gazette  •  Global News

Before they won their respective mayoralty elections, Stéphane Boyer in Laval and Catherine Fournier in Longueuil ­­had announced they intended to host a Quebec-wide summit on housing with leaders from all levels of government, community groups, universities and business groups.

Crown broke 1850 land treaties with First Nations

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

The Ontario Court of Appeal has ruled that the Crown violated the terms of treaties from 1850 by capping annual payments at a few dollars per person to Indigenous peoples who ceded a vast area of Northern Ontario.