Revenue growth, development, leasing keep H&R busy in Q2

RENX  Residential, Commercial  •  Industrial, Office, Retail, Apartments, Condominiums  •  National, International

H&R Real Estate Investment Trust made a number of acquisitions and dispositions in a busy second quarter that included 18.8 per cent growth in same-property net operating income (NOI).

69-storey mixed-use coming to Toronto’s 8 Elm St.

Residential, Commercial  •  Daily Hive

Canadian actor Simu Liu is lending his creativity to 8 Elm on Yonge, Reserve Properties’ and Capital Development’s 69-storey mixed-use tower at 8 Elm St. in downtown Toronto. Liu will collaborate with architects IBI Group and interior design firm Cecconi Simone.

Gairloch proposes 34-storey mixed-use in North York

Residential, Commercial  •  Urban Toronto  •  RENX

Gairloch Developments has proposed a 34-storey mixed-use condominium building at 2-20 Glazebrook Ave. in North York. The Gabriel Fain Architects Inc.-designed tower would include 434 residential units comprising 314 one-bedrooms, 69 two-bedrooms and 51 three-bedrooms in addition to ground-floor retail.

Calgary CRE transactions top $2.5B in 2022

Commercial  •  Western Investor  •  Edmonton Journal

Signs of increased investor spending in Calgary commercial real estate were apparent during Q2 2022. Just under $889 million in transactions closed through Q2, bringing year-to-date investment to more than $2.5 billion – a 256 per cent year-over-year jump.

Employees should be in office more often: RBC CEO

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post  •  Financial Post

In an internal memo to Royal Bank of Canada’s (RY-T) 89,000-plus employees on Tuesday afternoon, chief executive officer Dave McKay asked that they “come together more often in person to work and collaborate” as the fall season approaches.

The Industrial Real Estate Show › Podcast: Tenants, technology and real-time communication

Chad Griffiths: Partner, NAI Commercial

As values soar, young farmers become more vulnerable

Residential  •  Globe and Mail (Sub. required)

The average value of farmland and related buildings across Canada jumped 22.7 per cent in five years, making it more difficult for younger farmers to enter the industry, Statistics Canada says.

Skyline Clean Energy Fund acquires Alta. RNG plant

Commercial  •  Sustainable Biz Canada

The Skyline Clean Energy Fund (SCEF) has acquired a biogas facility in Lethbridge, Alta., via the purchase of Lethbridge Biogas LP and the shares in Lethbridge Biogas General Partner Inc.

MEC partners with HBC to expand store reach

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post  •  Globe and Mail (Sub. required)

Outdoor store chain MEC is partnering with Canada’s oldest retailer in a bid to reach more shoppers, by building “shop-in-shops” in Hudson’s Bay Co. department stores and selling products on the Bay’s website.

Baskin-Robbins plans 25 new shops

Commercial  •  Business Wire

Baskin-Robbins, the world’s largest chain of ice cream specialty shops, announced plans for an expansion of 25 new shops in the Vancouver and Calgary markets thanks to a franchise development agreement signed with real estate and franchise operator McMaster Group Holdings.

Body Shop Canada adds four new locations

Commercial  •  Canada Newswire

The Body Shop is adding four new locations across Canada: Oshawa Centre – Oshawa (Aug. 12)’ Market Mall – Calgary (Aug. 26); Metropolis at Metrotown – Burnaby (Nov. 11); and West Edmonton Mall – Edmonton (Nov. 18).

REIT second-quarter financial results

Residential, Commercial  • 

Nexus Industrial REIT, (NXR-UN-T), Globe Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire
SmartCentres REIT, (SRU-UN-T), Globe Newswire

CPP, Hamilton Pyramid Europe to invest $657M in hotels

Commercial  •  IPE Real Assets  •  Canada Newswire

CPP Investments has committed $624 million Cdn in a JV with London-headquartered hotel operator Hamilton Pyramid Europe. The venture, which has initial commitments of $657 million, will focus on acquiring operating hotels in key gateway cities and select resort destinations in Europe.

Teachers’ acquires majority stake in Sahyadri Hospitals

Commercial  •  Canada Newswire  •  livemint

Ontario Teachers’ Pension Plan Board today announced an agreement to acquire a significant majority stake in Sahyadri Hospitals Group, the largest private hospital chain in the state of Maharashtra, from the Everstone Group, which will retain a minority stake.

Hibernia changes name to Hibernia Real Estate Group

Commercial  •  RTÉ.ie

Hibernia REIT has changed its name to Hibernia Real Estate Group Limited to reflect the fact that after its acquisition by Brookfield earlier this year it is no longer an Irish REIT.

Airbnb to roll out new screening tools to stop parties

Residential  •  Globe and Mail

Airbnb said Tuesday it has introduced technology that examines the would-be renter’s history on Airbnb, how far they live from the home they want to rent, whether they’re renting for a weekday or weekend, and other factors.

Home Capital’s rejected bid sends bullish signal for housing

Residential  •  Globe and Mail (Sub. required)

ANALYSIS: As investors fret over the health of the housing market, the bid for Home Capital Group (HCG-T) suggests that at least one sophisticated investor – Goodreid Investment Counsel portfolio manager Robert Gill – thinks the downside risk has been priced in.

Canadian rent up 10.4% year-over-year

Residential  •  CBC  •  Financial Post  •  Burnaby Now

In July, the average monthly cost for rental properties across Canada was $1,934 — up 10.4 per cent over last year, according to the data of property listing company Rentals.ca. A similar hike in June saw the average rent spike 9.5 per cent.

Ottawa renters facing record-high prices, dwindling options

Residential  •  CBC  •  CTV  •  CTV

The latest data from RentFaster, a popular rental listings site, shows the average monthly price for a two-bedroom apartment, condo, townhouse, duplex or house in Ottawa exceeded $2,000 per month for the first time this spring, reaching nearly $2,100 by mid-summer.

Vancouver housing starts down 28 per cent in July

Residential  •  Business In Vancouver  •  Victoria Times Colonist  •  Ottawa Business Journal

Bucking a national trend, Metro Vancouver July housing starts fell 28 per cent compared to a month earlier, according to the latest data from Canada Mortgage and Housing Corp. Meanwhile, Vancouver-area residential sales were down 22.8 per cent month-over-month.