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Panattoni buys 423 acres of Brantford ind. land: $290M
Panattoni buys 423 acres of Brantford ind. land: $290M
In a purchase that single-handedly surpasses many entire quarters of investment activity in the Hamilton region, Panattoni Development Co. Canada has acquired a 423-acre tract of Brantford industrial development land for $290 million.
Bluevale builds portfolio as it lays plans to go public
Bluevale Capital Group was formed as a client advisory services provider, but is increasing its focus on real estate, expanding its portfolio and laying plans to eventually become a public company.
REIT yields haven’t been this unattractive since 2007
• Globe and Mail (Sub. required)
The last time the domestic REIT sector’s yield advantage over risk-free government bonds was this small was 2007. In that case, steep losses persisted in the following 24 months, thanks to the financial crisis.
$330M Lansdowne redev. would add 1,200 homes
Lansdowne Park’s next transformation will include a replacement arena on the property, new north-side stands and 1,200 additional residential units, if Ottawa city council accepts a $330-million proposal by the Ottawa Sports and Entertainment Group.
Mini Mall Storage Properties exceeds $500M AUM
• Globe Newswire • RENX
Calgary-headquartered self-storage business owner/operator Mini Mall Storage Properties, under the Avenue Living Asset Management Ltd. umbrella, has surpassed $500 million in assets under management, offering over three million square feet of storage space and 25,000 storage units across Canada and the U.S.
Van. approves PCI’s 39-storey mixed-use
• Globe and Mail • Vancouver is Awesome • Vancouver Sun
Vancouver city council Tuesday approved PCI Developments’ 39-storey mixed-use tower that will be integrated with a subway station on the False Creek site. The 407-foot tower will feature 223 rental homes in addition to a large grocery store and office space.
Polygon proposes 22-storey mixed-use Van. tower
• urbanYVR
Polygon is planning a mixed-use tower at 114-132 West 15th Street in North Vancouver, designed by IBI Group. The plans are for a 22-storey residential tower with 136 units, and 25,000 square feet of retail and office space on the first two floors.
Originate’s 12-storey Six99 coming to Bayview Village
Originate Developments‘ most recent project – Six99 – is on the way. Located at 699 Sheppard Ave. E. in the Bayview Village area of Toronto, the srm Architects-designed luxury boutique condominium will rise 12 storeys and include 1,200-square-foot three-bedroom units.
Vancouver tech sector driving downtown revival
The meteoric rise in valuations and further expansion of global tech firms in Vancouver are among the driving factors bringing people back into the city’s downtown, according to the Downtown Vancouver Business Improvement Association’s latest State of Downtown update.
Bene proposes smaller units in Richmond office bldg.
• Business In Vancouver • Richmond News
Bene (No. 3) Road Development, which received 11,025 square feet of additional density for a 10-storey office/retail tower at 4700 No. 3 Road in Richmond on the condition it not subdivide floors into more than one strata lot, proposes to create smaller office units.
Chinatown wants to see Van. mall redeveloped
Business leaders in Vancouver’s Chinatown want to see a city-owned mall brought to life as a food hub for the neighbourhood. Chinatown Plaza at 180 Keefer St. consists of a seven-storey parkade and three-storey commercial building, which is sitting virtually empty.
Ivanhoé Cambridge unveils The Ring art installation
• Canada Newswire • RENX
Ivanhoé Cambridge announced the unveiling next June of The Ring, an art installation in the heart of downtown Montreal. The steel structure, measuring 30 metres in diameter, will be suspended at the main entrance to Esplanade PVM at Place Ville Marie.
Timbercreek North American Mortgage Fund launched
Timbercreek Capital announced the launch of its first open-ended North American private debt fund with a global institutional investor as strategic partner and lead investor. The Timbercreek North American Mortgage Fund will focus on shorter-term U.S. and Canadian CRE-secured mortgages.
BrainBox brings AI to two N.J. office buildings
• Globe Newswire • Sustainable Biz Canada
BrainBox AI, a pioneer in autonomous artificial intelligence, announced an agreement with Mountain Development Corp. to bring its cutting-edge technology to two New Jersey office buildings. BrainBox AI’s technology will manage the HVAC controls of 140,000 square feet for Mountain Development.
Demand for U.S. office space jumps 20% in March
• Business Wire • Commercial Property Executive
New demand for office space surged in March, up 20 per cent from February and 8.2 per cent year-over-year. This comes after five months of stagnation in the VTS Office Demand Index (VODI) due to compounding COVID-19 variants and remote work.
ALDO Group’s restructuring plan approved
• Toronto Star • Globe Newswire • Montreal Gazette
The ALDO Group Inc. announced its North American creditors have voted in favour of its restructuring plan, almost two years after the global footwear and accessories company filed for protection under the Companies’ Creditors Arrangement Act.
Home prices tumble across the GTA
• Toronto Star • Globe and Mail (Sub. required) • Globe and Mail (Sub. required)
They were a hot commodity when the pandemic struck. Now Toronto-area townhouses are showing some of the biggest sales declines in this strangest of softening spring real estate markets, according to property website HouseSigma.
Costs of rent in Canada is going up
“The biggest change over the past six months is a return to downtown with big rent increases in Toronto and Vancouver, as well as decent rent growth in cities like London, Hamilton and Kingston in Ontario,” says Bullpen‘s Ben Myers.
Edm. to have infill units make up 25% of new homes
• CBC
Twenty-five per cent of new housing built since 2010 are infill homes located in Edmonton’s core and mature areas, reaching a goal set by the city when it embarked on its infill roadmap in that year.
Ukrainian evacuees arrive to housing scarcity
• REMI Network • RENX
A combination of short-term and long-term housing and other community-based facilities will be required to accommodate upwards of 70,000 Ukrainian evacuees expected to arrive this spring on Canada’s expedited three-year visa for those who have been displaced or endangered.
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