Brookfield to invest $15B in huge U.S. Intel chip factory

RENX  Commercial  •  Industrial, Investment, Technology  •  International

Canadian global investment giant Brookfield Infrastructure Partners LP (BIP-UN-T) has committed up to $15 billion US for a 49 per cent stake in a massive Intel semiconductor fabrication facility being constructed in Arizona.

VendorPM property management marketplace raises $20M

RENX  Commercial  •  Investment, Technology  •  National, International

VendorPM, a marketplace connecting property managers and service vendors, has raised $20 million in Series A funding including investments from some significant names in the industry.

Developer clears last legal hurdle to Plaza of Nations

Residential, Commercial  •  Vancouver Sun

Canadian Metropolitan Properties Corp. has a conditional development permit to proceed with a 28-storey mixed-use building as the first stage of redeveloping Vancouver’s Plaza of Nations now that the company has cleared its last legal hurdle.

GTHA lab space scarcity portends opportunity

Commercial  •  REMI Network  •  RENX  •  RENX

Market analysts see a vibrant niche of investment potential in current lab space scarcity across the Greater Toronto and Hamilton Area (GTHA). A report from CBRE pegs the vacancy rate at 0.2 per cent within approximately 12.3 million square feet of inventory.

Former Dorval seniors’ residence sold for $11M

Residential  •  La Presse

The former Herron seniors’ residence has been sold for $11 million, The Chowieri family were the former owners of the Dorval establishment where 47 people died during COVID-19’s first wave. Groupe Petra CEO Patrice Bourbonnais heads the group of buyers.

Morguard remains ‘bullish’ on Ottawa market

Commercial  •  Ottawa Business Journal  •  RENX

About 53 per cent of Morguard’s (MRC-T) downtown Ottawa office portfolio is leased to the feds, who haven’t committed to return employees to the office. However, senior vice-president Tullio Capulli remains confident office space will continue to be a solid investment.

Gairloch condo showcases artisans’ creativity, expertise

Residential  •  Toronto Star

A boutique condo in Toronto is taking its name and design inspiration from The Junction’s creative spirit. Craft Residences by Gairloch Developments is envisioned as a new gateway of The Junction, a neighbourhood popular with makers, artists, designers and foodies.

Osmington proposes 39-storey residential infill

Residential  •  Urban Toronto

In Toronto’s Davisville Village, Osmington Gerofsky Development Corp. proposes a Wallman Architects-designed 39-storey residential building at 33 Davisville Ave. and 60 Balliol St. It consists of 526 units: 50 studios (10%), 305 one-bedrooms (58%) and 118 two-bedrooms (22%), and 53 three-bedrooms (10%).

CF’s TD Centre earns WELL gold certification

Commercial  •  Sustainable Biz Canada

Cadillac Fairview’s Toronto-Dominion Centre has bolstered its human well-being credibility with a WELL Core Certification at the Gold level for five of six towers at the office complex in downtown Toronto.

Ontario not prepared for surge in population: Experts

Residential, Commercial  •  Toronto Star

Ontario’s population is expected to experience sustained growth over the next two decades, but the province may not have the infrastructure to support the booming — and aging — population, experts including Phil Soper, president and CEO of Royal LePage, warn.

Real World of Real Estate › Podcast: Trends and tips for international real estate investing

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Ace Hotel brings Toronto architecture to a new level

Commercial  •  Globe and Mail (Sub. required)  •  RENX

OPINION: A shimmering slab of brick and glass rises from the corner of Brant and Camden Streets. Thirteen storeys tall, the Ace Hotel Toronto is easy to overlook – until you notice the long ribbon of steel and Douglas fir.

Brookfield signs 450K-sq.-ft. tenant at NYC tower

Commercial  •  Commercial Property Executive  •  Bloomberg  •  TheStreet.com

U.S. audit, tax and advisory firm KPMG has signed a 450,000-square-foot lease at Brookfield Properties’ Two Manhattan West, a 58-storey tower slated for completion in 2023. This transaction marks the largest office deal of its kind in New York City in 2022.

BGO acquires $109.2M Phoenix distribution centre

Commercial  •  AZ Big Media  •  IPE Real Assets

BentallGreenOak has acquired a fully leased 730,760-square-foot class-A big-box distribution building on 46-plus acres in the Phoenix suburb of Goodyear. Newly constructed in the first quarter of 2022, Lakin Park Building 1A sold for $109.2 million US.

Gap latest retailer to offer third-party logistics services

Commercial  •  Bisnow

Gap Inc. has launched GPS Platform Services to offer its network of warehouses and inventory systems to other retailers. The product enters the market less than a month after American Eagle Outfitters brought 3PL platform Quiet Logistics back online.

SVN International CEO Kevin Maggiacomo dead at 50

Commercial  •  Connect  •  Bisnow

SVN International Corp. said Monday longtime president and CEO Kevin Maggiacomo has died at 50. Maggiacomo joined SVNIC in 2001 and served as regional director, EVP and COO before being appointed CEO in 2010. He is survived by his wife and five children.

ApartmentLove announces significant expansion

Residential  •  REMI Network  •  Globe Newswire

Rental marketing services provider ApartmentLove Inc. announced it has significantly expanded its short-term rental inventory by entering into an agreement to acquire OwnerDirect.com. Users of the ApartmentLove booking platform will now have access to an additional 120,000 short-term vacation rentals.

New GTA single-family home sales at record low

Residential  •  STOREYS  •  Globe Newswire

July marked the slowest month on record for newly constructed single-family home sales, though the new condo market continued to perform strongly, according to the Building Industry and Land Development Association (BILD).

60% of millennials believe they will own a home

Residential  •  Canada Newswire  •  Toronto Star  •  La Presse

According to a Royal LePage survey, 60 per cent of Canadian millennials who do not currently own a home believe they will one day. Of them, however, 52 per cent say they would have to relocate in order to achieve this milestone.

Kelowna approves huge hike in carriage homes dev. fees

Residential  •  Castanet

The City of Kelowna will increase development cost charges on carriage homes from $2,500 to between $22,000 and $28,000. The city was forced by the province to change the amount of DCCs it charged to those constructing secondary suites.