Canada can easily handle more flex office space

RENX  Commercial  •  Office  •  National

The amount of flex office space in Canada increased by 59 per cent over the past three years, but a new Colliers study asserts the sector still has a lot of room to grow in the country’s major cities.

Allianz, PIMCO to create $155B investment manager

Commercial  •  IPE Real Assets  •  Globe Newswire  •  Bloomberg

Allianz announced plans to merge Allianz Real Estate and PIMCO to create a $155 billion Cdn real estate investment manager, while AXA Investment Managers is also combining its real assets, structured credit and hedge fund arms into a $213 billion alternatives platform.

Forks Railside project gets tax financing OK

Residential, Commercial  •  CBC

The Forks is moving closer to breaking ground on the first phase of its Railside development project. The City of Winnipeg’s executive policy committee voted unanimously Tuesday to approve up to $7.9 million in tax increment financing for the mixed-use development.

Metro investing $820M in Montreal, Toronto facilities

RENX  Commercial  •  Industrial, Retail  •  Greater Montreal, Toronto / GTA

Metro Inc. (MRU-T) will invest $420M to build a new, automated distribution centre for fresh and frozen products near Montreal, and expand its produce and dairy distribution centre. Metro is also building $400M in new Toronto facilities for its Ontario network.

New Building Code regs mean larger wood buildings

Residential, Commercial  •  Sustainable Biz Canada

Wood buildings can now be constructed up to 12 storeys thanks Canada’s updated National Building Code, but the regulations come with a catch that can negate one of their most pleasing features. Drywall is required, in many cases, for fire protection.

The Legal Corner › Loan Guarantees: Another exception to the 2-year Limitations Act period

Darrell Gold: Partner, Robins Appleby LLP

Calgary committee against golf course redevelopment

Commercial  •  Global News

Calgary city council’s Priorities and Finance Committee wants to stop any discussion about the potential redevelopment of Shaganappi Point Golf Course.

Tremblant invests $8.8M in expansion, infrastructure

Commercial  •  Canada Newswire

Tremblant announced a new $8.8 million investment to open a new summit called Timber, create a new beginner area on Versant Soleil and carry out infrastructure maintenance work. Tremblant is part of Alterra Mountain Company‘s family of 15 iconic year-round destinations.

39-storey mixed-use development proposed

Residential, Commercial  •  Urban Toronto

DiamondCorp and Alterra have teamed up to propose a development at 125 George St. that would add to the cluster of towers sprouting up just east of Toronto’s downtown core. The proposal would insert a 39-storey, 488-foot tower.

Park Lawn building $15M T.O. visitation centre

Commercial  •  Daily Commercial News

Park Lawn Company Limited (PLC-T) has announced the launch of construction on a $15-million funeral visitation and reception centre at the Westminster Cemetery in Toronto. The 32,100-square-foot facility will be the company’s first such centre in Canada.

More Vancouver retail space is going dark

Commercial  •  Business In Vancouver  •  Vancouver Sun

Starbucks (SBUX-Q) shuttered its outlet at Kitsilano Beach in January and at 18 other Metro locations in the past year, part of a retail trend that has seen 73,443 square feet of Metro Vancouver retail space close in the second half of 2019.

REIT fourth-quarter financial results

Commercial  • 

American Hotel Income Properties REIT, (HOT-UN-T), Canada Newswire

BSR REIT, (HOM-U-T), Canada Newswire

Melcor REIT, (MR-UN-T), Globe Newswire

Minto Apartment REIT, (MI-UN-T), Canada Newswire

LNG acquires RE tech rival DG Group

Residential  •  Business In Vancouver

LNG Productions Inc. (LNG Studios) has acquired DG Group in a deal announced Monday. LNG Studios is known for developing virtual reality experiences for real estate developers looking to showcase what a home would look and feel like before construction.

Parkland acquires Montana ConoMart Super Stores

Commercial  •  Globe Newswire

Parkland Fuel Corporation (PKI-T) announced that through its wholly owned U.S. subsidiaries, it has entered into an asset agreement to acquire seven Conoco-branded retail sites located in and around Billings, Mont.

Brookfield halts sale of Aussie coal port due to virus

Commercial  •  Reuters

Brookfield Asset Management (BAM-A-T) has put the $2-billion sale or potential listing of its coal export terminal in Australia on hold due to travel restrictions amid the spread of coronavirus, two sources said.

U.S. CRE insurance rates rise again in Q4

Commercial  •  Globe Newswire  •  Miami Herald

U.S. commercial insurance prices accelerated during the fourth quarter of 2019, as the aggregate price change reported by carriers exceeded six per cent, according to Willis Towers Watson’s (WLTW-Q) Commercial Lines Insurance Pricing Survey (CLIPS).

Onni proposes additional Vancouver rental housing

Residential  •  Daily Hive  •  RENX

Onni Group intends to submit a rezoning application to add 254,643 square feet of rental housing to the 25-acre Pearson Dogwood redevelopment by increasing the number of floors of approximately eight buildings, including some of the tallest towers on the site.

B.C. rentals also hit by rising insurance costs

Residential  •  Vancouver Sun  •  Victoria Times Colonist

B.C. landlords large and small are struggling with big hikes in their insurance premiums, which they say will, in turn, put pressure on renters. “It’s brutal,” said Tom Johnson, vice-president of asset management for Cressey Development Group.

Short-term rentals pinched by coronavirus fears

Residential  •  Globe and Mail (Sub. required)

The economic costs of the coronavirus outbreak are being felt and analysts fear short-term rental companies such as Airbnb and VRBO may be uniquely exposed to the fallout from the virus.

Apartments sit vacant in the middle of T.O.’s housing crisis

Residential  •  Toronto Star

Toronto’s Kendal apartments, a three-storey brick building of fading elegance, once housed Edwardian newlyweds and even an accused murderer. However, now, in the middle of a raging housing crisis, the apartments sit empty.