Distrikt, Alterra partner on 2-tower Oakville development

RENX  Residential  •  Condominiums  •  Toronto / GTA

Distrikt Capital and Alterra are partnering on the development of two 31-storey condominium towers at 3064 Trafalgar Rd. in Oakville, Ont.

Umicore to build $1.5B Ontario EV battery parts facility

Commercial  •  Sustainable Biz Canada

Metropia proposes three towers in Markham

Residential  •  Urban Toronto

Metropia has proposed to build 36-, 40- and 44-storey towers on Enterprise Boulevard in Markham, just north of the Unionville GO station. UnionCity Condos would include 1,350 apartment units and 2,390 square feet of non-residential gross floor area (GFA).

Toronto hikes development charges 46 per cent

Residential  •  Globe and Mail  •  Toronto Storeys

Toronto is increasing development charges by 46 per cent, adding 10s of thousands of dollars to the costs of building most new homes even as the city suffers a housing affordability crisis.

Lanyard acquires Ottawa office building for $9.35M

Commercial  •  Ottawa Business Journal

Vancouver-based Lanyard Group of Companies has acquired a two-storey office building at 2625 Queensview Dr. in West Ottawa for $9.35 million. The 46,500-square-foot building has a vacancy rate of about 30 per cent after the City of Ottawa recently left the space.

The Saskatchewan Edge › The pitfalls of verbal commercial real estate negotiations

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

AIMCo acquires 100% stake in Cando Rail & Terminals

Commercial  •  Canada Newswire

Alberta Investment Management Corporation (AIMCo) today announced the signing of a definitive agreement to acquire a 100% equity stake in Cando Rail & Terminals, one of North America’s largest owners and operators of first- and last-mile rail infrastructure from TorQuest Partners.

Couche-Tard potential buyer of Petro-Canada stations

Commercial  •  Financial Post

Suncor Energy Inc.’s decision to bow to investor pressure and investigate a sale of 1,500-plus Petro-Canada locations has turned the spotlight on one potential buyer — Quebec’s Alimentation Couche-Tard Inc., which has been seeking a major acquisition.

Fonds, Edifia bringing rental development to Lévis

Residential  •  Canada Newswire

The Fonds immobilier de solidarité FTQ and Edifia Groupe Immobilier have begun construction on the HUMA II rental development in Lévis, Que. It will include 132 residential units, a party room, co-working space, a lounge, a gym and a yoga room.

TWC increases ownership in Automotive Properties

Commercial  •  Globe Newswire

TWC Enterprises Limited (TWC) announced it has acquired beneficial ownership of, or control or direction over 800,900 trust units of Automotive Properties REIT (APR-UN-T) at a weighted average price of $13.17 per unit. The purchase represent 2.02% of the issued and outstanding units.

Inflation jumps 8.1 per cent year-over-year

Commercial  •  Toronto Star  •  Financial Post  •  Toronto Star

According to new data from Statistics Canada, the Consumer Price Index — the main measure of inflation — rose 8.1 per cent in June. That’s higher than the 7.7 per cent figure seen in May, and is the highest year-over-year increase since January 1983.

Walmart launches ‘Blue Labs’ innovation incubator

Commercial  •  Retail Insider

Walmart Canada recently launched its Blue Labs initiative which is the retailer’s new incubator and innovation team tasked with creating the retail experience of tomorrow.

Nicola acquires eight-building Texas business park

Commercial  •  Globe Newswire

Nicola Wealth Real Estate, in partnership with Birtcher Anderson & Davis, has acquired Westway Business Park located in Arlington, Texas. Westway Business Park is an eight-building 360,423-square-foot multi-tenant light industrial and flex office asset.

KKR acquires Atlanta’s Atlantic Yards for $500M

Commercial  •  Commercial Property Executive  •  Business Wire  •  IPE Real Assets

A joint venture between Hines and Invesco Real Estate has finalized the disposition of Atlantic Yards, a trophy office campus totaling 523,511 square feet in Midtown Atlanta. Global Atlantic Financial Group, a division of KKR, acquired the two-building asset for $500 million.

Manhattan retail rents stabilize, first time in 18 quarters

Commercial  •  Bisnow

Rents stayed stable in some of Manhattan’s busiest retail corridors during Q2 for the first time in 18 quarters. Manhattan’s retail real estate is showing promising signs of a gradual recovery after being pounded by e-commerce and COVID, according to CBRE.

The shrinking world of publicly traded real estate

Residential, Commercial  •  Bisnow

American Campus Communities, the lone publicly traded student housing REIT in a segment that five years ago had three, is set to be acquired by Blackstone, part of a larger wave of public REITs being taken private by investment giants

Toronto condo rents hit record high

Residential  •  Globe and Mail (Sub. required)  •  Toronto Star  •  REMI Network

Condo rents hit a record high in Q2, as soaring borrowing costs pushed residents into the rental market and more people returned to Toronto. Across the Toronto region, the average monthly rent rose 17 per cent to $2,533 year-over-year, according to Urbanation.

GTA luxury condo sales jump: Sotheby’s

Residential  •  Toronto Star

The pandemic recovery has been a boon for Toronto’s luxury real estate market, especially high-end condominiums, as more people move back to the downtown core, according to a new report from Sotheby’s International Realty Canada.

‘Huge increase’ in Toronto homes being delisted: Broker

Residential  •  Bloomberg  •  CP 24

John Pasalis, president of Toronto-based brokerage Realosophy, says more would-be sellers are choosing to delist their homes as the housing market cools and prices sink. Some are relisting at a lower price whereas others are delisting and staying put.

Toronto challenging law enabling ‘accelerated evictions’

Residential  •  Toronto Star

In a court filing, the City of Toronto argues that Bill 184 — dubbed the Protecting Tenants and Strengthening Community Housing Act — is unconstitutional, violates tenants’ security of person, and creates “an unfair administrative process” that facilitates accelerated evictions.