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$2.7B Concert fund gets new name, diversifies into multires
$2.7B Concert fund gets new name, diversifies into multires
Concert Properties' management will diversify the CREC Commercial Fund LP by adding multiresidential rental properties to its mix of industrial and office assets, and has renamed it as Concert Income Properties Fund LP.
New Trez Capital fund stabilizes its first U.S. properties
A Trez Capital equity fund is showing that U.S. Sunbelt states are popular as more than just tourist destinations for Canadian snowbirds.
Vancouver-based Coast Hotels acquires 9 U.S. hotels
Vancouver-headquartered Coast Hotels Ltd. has expanded to the U.S. by spending an undisclosed amount to buy a master frachise agreement that includes nine American hotels. Coast Hotels is owned by Tokyo-based APA Hotels through its APA Hotel Canada Inc. subsidiary.
Rowntree proposes five residential buildings in Toronto
Rowntree Enterprises has announced plans for a five-building residential project to replace auto dealerships in east Toronto and create over 1,800 new units of housing. The 305,157-square-foot development at 1075 Leslie St. would feature 13- to 49-storey buildings.
Lab 29 another brick in Low Tide's life sciences wall
Thanks to development and management company Low Tide Properties, the neighbourhood around Vancouver’s Great Northern Way is becoming something of a life sciences and biotech hub. Low Tide's newest building, dubbed Lab 29, is set to become operational in 2026.
160,000-square-foot distillery coming to Eastern Ontario
Pierre Mantha is building a 160,000-square-foot distillery in Hawkesbury. The Artiste in Residence Distillerie will be the first phase of an eight-phase project Mantha hopes will culminate in a destination store, restaurant and lounge in the next five years.
Major construction projects coming to Toronto in 2023
From The Well to housing developments to road construction, there are hundreds of projects in the works across the City of Toronto. Here are a few major development projects you can expect to make headlines in 2023:
10 major developments coming to Vancouver in 2023
Metro Vancouver saw several notable urban development projects reach completion in 2022, from the Deloitte Summit to a significant portion of Burrard Place, as well as The Stack. Several more landscape-changing developments are slated to be completed in 2023.
IA Capital Markets high on Nexus, Primaris
iA Capital Markets' Equity Research Team's top stock picks for 2023 include Nexus Industrial REIT (NXR-UN-T), with a “strong buy” rating and $14 target, and Primaris REIT (PMZ-UN-T), with a “buy” rating and $16 target.
Shopify launches new subscription product
Shopify Technologies Inc. (SHOP-T) on Tuesday launched a new service aimed at large retailers that will allow them to select tools and services the Canadian tech giant offers and integrate it with their own online platform.
PCL launches standalone solar division
Building on its increased solar production in 2022, PCL Construction has launched a separate division focused solely on solar manufacturing projects.
Blackstone’s BREIT gets $4B investment
The University of California will invest $4 billion of common equity in the $68-billion nontraded Blackstone Real Estate Income Trust (BX-N), with a promise that the investment will bring annual returns of at least 11.25 per cent.
Twitter sued for nonpayment of rent on San Fran office
Twitter Inc. was sued for failing to pay $136,250 in rent for its office space in San Francisco. Landlord Columbia Reit - 650 California says it notified Twitter on Dec. 16 that it would be in default on its lease.
Gap puts San Fran office property on market
Gap Inc. kicked off 2023 by shedding some of its office space in San Francisco, confirming it would market its 162,000 square feet at 1 Harrison St. Gap purchased the property for $45 million in 1999.
Salesforce to cut 10% of workers, reduce office space
San Francisco-headquartered Salesforce Inc. said it would cut about 10 per cent of its 80,000 employees and reduce its real estate holdings after the enterprise software company hired too many people during the pandemic-fuelled boom.
Cooling-off period comes to B.C. housing market
Amid B.C.’s coldest housing market in years, where it now takes weeks for the average home to sell, the province has brought in a cooling-off period for homebuyers. The legislation is the first in Canada’s resale housing market.
Canada sets immigration record with 430K newcomers in 2022
Immigration Minister Sean Fraser said in a news release Tuesday the federal government has reached its goal of welcoming 431,645 new permanent residents in 2022. Ottawa beat its previous record of 401,000 set in 2021.
B.C. real estate assessments show smaller increases
The assessed value of homes rose in almost every B.C. community last year, but new official estimates show much smaller increases than 2021′s massive spikes because rising interest rates had already begun cooling many of the markets.
Housing market expected to continue cooling in 2023
Most economists and experts interviewed say they expect the cooling in Canada’s housing market to continue into 2023, citing prohibitively high mortgage rates, low inventory and uncertainty about where the Bank of Canada’s interest rate cycle will finally peak.
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
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Palais des Festivals, Cannes, France
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