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‘Major attractions’ sought for Ottawa’s LeBreton Flats
‘Major attractions’ sought for Ottawa’s LeBreton Flats
The director of Building LeBreton, a 71-acre redevelopment property bordering downtown Ottawa, is in Toronto today to lay out the vision for the site at Canada’s largest virtual and in-person development industry gathering.
Crown, Crestpoint JV to buy Ottawa’s Place de Ville
Crown Realty Partners, on behalf of Vestcor Inc., has acquired Ottawa’s Place de Ville in a 50-50 partnership with Crestpoint Real Estate Management Ltd. The office complex spans two city blocks in downtown Ottawa.
Oxford, Intracorp JV on large Vancouver multires development
Oxford Properties is partnering with Intracorp Homes in a joint venture to develop 649 rental apartments in South Vancouver – including 125 co-op homes in one of Canada’s largest co-op housing renewal projects.
SmartCentres to pay $513M, acquire 53 acres at VMC
SmartCentres REIT (SRU-UN-T) will pay $513 million to acquire a two-thirds interest in 53 acres of property at the massive Vaughan Metropolitan Centre (VMC) development just north of the City of Toronto, the trust has announced.
Cenovus to sell 337 Husky gas stations for $420M
• Globe and Mail • Canada Newswire • Canada Newswire
Cenovus Energy Inc. (CVE-T) says it is selling 337 Husky gas stations for a total of $420 million. Parkland Fuels (PKI-T) says it will buy 156 of the retail fuel stations for $156 million. Federated Co-operatives Ltd. will buy the remaining 181 stations for $264 million.
Minto JV to develop six-storey Van. mixed-use
• Canada Newswire • RENX
Minto Properties (MI-UN-T), in a JV with Comma Properties LP, the rental portfolio of Rize Alliance Assets, announced a JV to develop a six-storey mixed-use building with 108 rental suites and approximately 11,500 square feet of at-grade retail at 810 Kingsway in Vancouver.
Supply chain concerns drive Canadians back to malls
• Globe and Mail (Sub. required) • Globe and Mail (Sub. required) • Globe and Mail
Concerns over supply chain shortages have driven some Canadians back to in-store shopping, a trend that was evident during the Black Friday sales that hit their peak this past weekend, said Bradley Jones, head of retail for Toronto-based Oxford Properties.
Aisle 24 building an employee-free grocery empire
Aisle 24, below 88 Erskine Ave., has all the makings of a typical Toronto convenience store. The shelves are filled with basic groceries and household items. What it’s missing, though, are people. No clerks stocking the shelves, no cashier manning the till.
OPINION: CF’s East Harbour doesn’t look promising
• Globe and Mail (Sub. required) • RENX
Whether we know how to build a neighbourhood is the key question about East Harbour, Cadillac Fairview‘s redevelopment on the eastern edge of downtown Toronto. It’s being planned as a transit hub and a 10-million-square-foot office district with 4,300 apartments.
Offices need to change as workers return
• CBC • Computerworld • REMI Network
At organizations across Canada, decision-makers are looking at how their physical workspaces need to function, as they plan how their people will make use of them in the future — even if their staff end up spending less time there.
COVID-19 not only reason for London’s office vacancy
• CBC
Downtown London has an office vacancy rate of about 20 per cent, above the national average of 15 per cent. Marcello Vecchio, a research associate and project coordinator at Western’s Human Environments Analysis Laboratory, blames COVID and a “lack of transportation infrastructure.”
December a make-or-break month for Ottawa retailers
On a recent weekday afternoon in Ricardo Fleuraguste’s menswear store, Vivati, the lavishly dressed mannequins greatly outnumbered the customers. Fleuraguste’s store is inside Ottawa’s Gloucester Centre mall, where the shortage of customers was a common plight.
Blackstone acquires $2.8B logistics portfolio from Cabot
• Real Estate Weekly • Business Wire • CP Executive
Two vehicles affiliated with Blackstone Real Estate (BX-N) have acquired $2.8 billion worth of institutional-quality logistics assets in two separate transactions with Cabot Properties. The U.S. portfolio comprises 102 properties totaling 15.2 million square feet in many of the strongest logistics markets.
Harrison Street sells nearly $2B in student housing
• Globest.com • Business Wire • IPE Real Assets
Harrison Street has sold two student housing portfolios for a combined $1.9 billion. One portfolio consisted of 12 properties across 12 universities sold to Global Student Accommodation. The second consisted of 25 properties across 19 universities and was sold to The Scion Group JV.
ViacomCBS to sell CBS Studio Center for $1.85B
ViacomCBS Inc. (VIACP-Q) announced it has entered into a definitive agreement to sell CBS Studio Center and its associated operating business to a partnership formed by Hackman Capital Partners, LLC and Square Mile Capital Management for approximately $1.85 billion.
ERES REIT acquires two Dutch properties for $86.9M
ERES REIT (ERE-UN-X) announced it has completed the acquisition of a portfolio of two properties comprised of an aggregate 162 residential suites located in the Randstad region of the Netherlands for a total purchase price of $86.9 million Cdn.
Average residential prices to rise by 9.2% in 2022: RE/MAX
• Financial Post • Canada Newswire
RE/MAX predicts home prices will rise by 9.2% in 2022. The migration between provinces has been a big driver of the housing boom during the pandemic as buyers sought the bigger spaces and smaller prices outside of the big city centres.
Municipalities hold billions in new home revenues: BILD
• Toronto Star • Globe Newswire
More than $5 billion in development charges and fees are sitting in Ontario municipal reserve funds, adding to the high cost of homes and creating a “lost opportunity” to immediately improve the lives of the region’s residents and newcomers, says BILD.
Toronto housing inventory spurt drying up as 2021 wanes
• Globe and Mail (Sub. required)
The erratic Toronto-area real estate market is heading into December with dwindling listings and a cohort of buyers determined to strike a deal before year’s end, says Robin Pope, broker with Pope Real Estate Ltd.
Arsenault acquires 15 million NexLiving Communities shares
• Canada Newswire • RENX
Denis Arsenault announced today he has acquired 15,000,000 common shares of Dartmouth-based NexLiving Communities (NXLV-X) for an aggregate purchase price of $3,000,000. The shares representing approximately 5.59% of the issued and outstanding common shares of NexLiving.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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