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Oxford, partner buy Banff's Rimrock Hotel for $170M
Oxford, partner buy Banff's Rimrock Hotel for $170M
Oxford Properties Group and an institutional capital partner have acquired The Rimrock Resort Hotel on Sulphur Mountain in Banff National Park for $170 million, and plan a “comprehensive top to bottom renovation” of the property.
Aldesta buys 1,229-acre Fairmont Hot Springs Resort property
Vancouver-based Aldesta Hotel Group made a large addition to its portfolio with last week’s acquisition of the 1,229-acre Fairmont Hot Springs Resort property in the Columbia Valley region of British Columbia.
NYX Capital buys Mississauga ind. land, plans 3 buildings
NYX Capital Corp. has acquired a 22-acre infill industrial site in Mississauga from Truscan Property Corporation for $40.695 million. The site is located along Tahoe Boulevard in the southwest quadrant of Mississauga’s Airport Corporate Centre district.
Colliers report offers keys to hybrid work plan
As Canadian companies struggle to get workers to return to the office, a Colliers report examining what might bring them back has found overcoming commuting hurdles and office layouts are key.
Mission Group receives record $140.6M Kelowna permit
The City of Kelowna issued a record $140.6 million building permit to Mission Group Monday for the final phase of its Aqua project which will include towers of 13, 15 and 17 storeys and more than 300 residential units.
Saanich a sea of single-family homes
Development applications for new homes in Saanich, Vancouver Island’s largest municipality by population, crawl through the planning department at a glacial pace, with bureaucratic red tape adding months to a process some municipalities are doing within weeks.
Rohit breaks ground on first Ottawa rental
Edmonton-based homebuilder Rohit Group of Companies broke ground on its first Ottawa real estate Tuesday - a five-storey, 51-unit rental complex. Rohit CEO Radhe Gupta expects to complete additional projects in the Ottawa area over the next several years.
Province of Quebec eyes land in Montreal East
Buoyed by the success obtained in Bécancour, where a government corporation controls the land in the industrial park, minister Pierre Fitzgibbon does not rule out the possibility of Quebec acquiring strategic land in eastern Montreal.
St. John's office vacancy rate nearly 37%
According to Turner Drake & Partners, as of December there was an office space vacancy rate of nearly 37 per cent in downtown St. John's — less than the 41% a year earlier, but higher than the estimated 28% in December 2018.
Edm. building affected by litigation, forced sale
Four years ago, Primavera Developments was almost ready to reopen a century-old building on Edmonton's Jasper Avenue. However, Brighton Block and its new class-A office space would soon become mired in financial trouble and legal action.
Agropur gets SBTi approval for GHG reductions targets
The Agropur Dairy Cooperative has declared itself ready to carry out an ambitious mission to achieve a 30 per cent reduction in greenhouse gas emissions by 2031.
Treasure Hill proposes 45-storey mixed-use in Markham
Treasure Hill Homes' revised proposal for 77 Anderson Ave. in Markham calls for a 45-storey mixed-use tower. The Graziani + Corazza Architects-designed tower would include 508 residential units and 4,672 square feet of ground-floor commercial space.
Goldman Sachs to write down value of CRE loans, equity
Goldman Sachs (GS-N) CEO David Solomon told CNBC the firm will take impairment charges on commercial real estate assets on its books for Q2. Those assets include loans as well as a direct stake it has taken in some properties.
Real estate giants roll the dice on growth In Vegas
When Daniel Cohen and his colleagues at private equity giant Apollo began due diligence on a $6.25B acquisition of the Venetian casino and hotel in Las Vegas in autumn 2021, the business was losing $1 million a day.
China’s real estate slump predicted to last for years
Weakness in China’s real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned.
Korea warns of financial risk as RE loans fail
Bank of Korea governor Rhee Chang-yong flagged growing financial sector risks amid a rise in real estate loan delinquencies — even as the broader housing market slowly recovers. The central bank held policy rates in May for a third straight meeting.
Lenders should tackle mortgage extension risks: OSFI
The Office of the Superintendent of Financial Institutions is urging lenders to tackle mortgage extension risks at the "earliest opportunity" as many borrowers try to navigate higher mortgage costs after the Bank of Canada's surprise rate hike last week.
Latest interest rate hike jolts Toronto market
Industry professionals say calls flooded in from potential Toronto-area buyers, investors and existing homeowners as they grappled with the possible repercussions from the Bank of Canada’s recent interest rate hike to 4.75 per cent.
Hidden alternatives to get into the housing market
ANALYSIS: Jen Abrams has lived for seven years in a 978-square-foot float house called the Lilypad, moored at Richmond Marina and walking distance to the SkyTrain station, which brings her downtown in 15 minutes.
Average annual rent increases cooled slightly in May
The average annual rent for vacated units in Canada rose 6.5 per cent in May, marking the lowest annual increase since December 2021, according to new data from Rentals.ca and Urbanation.
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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