Dream Industrial: 10 years of growth, more to come

Dream Industrial REIT chief executive officer Brian Pauls and members of his team rang the bell to open the Toronto Stock Exchange on Sept. 26 and mark the trust’s 10-year anniversary.

Construction begins on three Van. residential buildings

Construction has commenced on Oxford Properties and Intracorp's rental housing redevelopment of Ashley Mar Housing Co-operative in South Vancouver. The 27- and 32-storey towers and 16-storey building will comprise 524 market rental and 125 co-op units.

Pressure building on construction industry bottom lines

The stark mismatch between housing supply and demand is top-of-mind in B.C., but the push to build more houses is complicated by the cost pressures faced by the construction industry.

Tricon Residential to sell $315M stake in U.S. portfolio

Toronto-based Tricon Residential Inc. says it has an agreement to sell its remaining 20 per cent stake in a portfolio of 23 U.S. Sun Belt apartment buildings for $315 million.

StorageVault to buy 2 Edmonton locations for $14.2M

StorageVault Canada Inc. (SVI-T) has agreed to acquire two Edmonton stores from one arm’s length vendor for an aggregate purchase price of $14,160,000. It is anticipated the acquisition will close in Q4 2022.

Quebec buys land from relatives of a gangster for $3.7M

The CISSS des Laurentides paid $3.7 million to the company of relatives of a member of the Irish underworld for land to build a seniors' home. The government insists it was unaware of the seller's troubled relationship.

Rate rises leave multiple-property owners exposed

Since 2017, so-called multiple-property owners have been the largest group of buyers of Ontario real estate, but a new Teranet report analyzing the holdings of this cohort suggests they may become far less active as interest rates continue to rise.

Gairloch breaks ground on 9-storey Leaside Common

Gairloch Developments has broken ground on Leaside Common, a nine-storey condo building at 1718 Bayview Ave. in Toronto's Leaside neighbourhood. The BDP Quadrangle-designed building will include 198 high-end units ranging from studio to three-bedroom units.

Montreal retail bounces back as tourists return

Retail sales activity is heating up in Montreal, boosted by tourism and the re-emergence of the downtown, according to a recent report by JLL. Both mall-based and Sainte-Catherine Street-based retailers in the urban core have recovered in 2022.

Walmart Marketplace sellers gain access to WFS

Walmart’s logistics and fulfillment solutions are now available to Marketplace sellers in Canada. Local businesses can now offer customers two-day shipping or in-store pick-up with the launch of Walmart Fulfillment Services (WFS) in Canada. 

BDP Quadrangle’s new approach to workspace

In one corner of BDP Quadrangle’s new downtown offices, employees can grab a book or lounge. “The Oasis” is a light- and plant-filled perch meant to evoke a feeling of calm and wellness in a busy architecture and design office.

Yardi acquires space management provider Planimetron

Leading real estate technology provider Yardi announced it has acquired Planimetron to help meet the growing demand for efficient space management by office, retail and industrial real estate owners and operators.

BGO, Mission Street U.K. acquire 23-acre site

In a boost to the U.K.’s life sciences sector, Mission Street and BentallGreenOak (BGO) will deliver a science and innovation campus in Cambridge, following the acquisition of a 23-acre site on the city’s Coldham’s Lane.

Big Tech realigning office portfolios

Large technology companies like Meta and Amazon are cutting back some of their class-A office space in Manhattan and office leasing experts say it’s not surprising as they and other businesses grapple with growing economic headwinds and changing space needs.

FLO opens first U.S. EV assembly facility in Michigan

Troubled Fla. insurance market causes CRE concerns

Hurricane Ian caused an estimated $60 billion to $70B worth of property damage to Florida. Now a huge cloud looms over recovery and rebuilding: the state’s property insurance market, which is on the brink of collapse.
 

Economist predicts 1990s-style Canada housing bust

Home-price declines in Canada are only getting started and will eventually resemble the protracted slump of the early 1990s, sapping consumer confidence and spending, economist David Rosenberg said. “It’s not going to be 10% or 15%,” he said Tuesday.

Real estate observers see rocky road ahead

Crumbling consumer confidence is dampening hopes for a rebound in Canada’s real estate market as economic signposts point to more strife ahead, according to John Lusink, president of Right at Home Realty Inc. and Property.ca.

More than 3,700 N.S. homes lost to short-term rentals

More than 3,700 homes in Nova Scotia aren't available to families seeking permanent housing because they are listed as short-term vacation rentals, according to Halifax community group Neighbours Speak Up, which compiled data from the province's short-term accommodations registry.

U.S. home flippers get burned by sudden slump

After an abrupt end to the U.S. housing boom, home flippers who were winning big just months ago are now racing to stem losses. The doubling of mortgage rates since January has crushed buyer demand in favoured locations.