Maclab building $220M, two-tower Edm. development

RENX  Residential  •  Retail, Apartments  •  Edmonton, Alberta

Maclab Development Group’s $220-million Garneau project in Edmonton, adjacent to the University of Alberta campus, is being billed as one of the largest private student housing projects to go forward nationally in the past 10 years.

PC Urban launches new Victoria-area strata industrial

RENX  Commercial  •  Industrial  •  British Columbia

Vancouver-based strata industrial specialist PC Urban Properties Corp. is launching its 10th IntraUrban development, a 160,000-square-foot light industrial hub in Langford in the Victoria metro area. IntraUrban Cornerstone will be built on a vacant seven-acre lot.

MACH, Petra to acquire Mtl. office building

Commercial  •  La Presse  •  RENX  •  RENX

Groupe MACH and Groupe Petra are on the verge of acquiring BentallGreenOak’s KPMG Tower at 600 De Maisonneuve Blvd. W. in downtown Montreal. The terms of the transaction for the 34-storey, 476-foot-tall office building constructed in 2006 are unknown at this time.

The state of REITs since the March 2020 market crash

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Four teams vying to reimagine T.O.’s waterfront

Residential, Commercial  •  Toronto Star

The builders and designers behind Toronto’s The One condos, Montreal’s New Vic and a Smithsonian museum in Washington are some of the people hoping to fill the gap left by Sidewalk Labs to develop the Quayside lands on Toronto’s waterfront.

Camrost Felcorp proposes 26-storey condo building

Residential  •  Urban Toronto  •  RENX

Toronto-based developer Camrost Felcorp has proposed a 26-storey condominium building at 91 Raglan Ave. in Toronto’s Humewood-Cedarvale neighbourhood. The Onespace Unlimited-designed building would contain 224 residential units: 66 one bedrooms, 47 two bedrooms and 15 three bedrooms.

General Fusion relocating HQ to Van. airport

Commercial  •  Business In Vancouver

B.C. cleantech firm General Fusion Inc. will hop across Metro Vancouver for its new headquarters later this year as it plans to quadruple its workforce in the coming years. General Fusion will lease a 60,000-square-foot facility at Vancouver International Airport.

Long-term working from home could be divisive: CIBC

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post

Permanent work-from-home arrangements could spark division between front-line employees who have to come to work and others who are given a choice, Canadian Imperial Bank of Commerce (CM-T) CEO Victor Dodig says.

T&T supermarket to open first Langley store

Commercial  •  Canadian Grocer  •  Canada Newswire

T&T Supermarkets continues to expand its Western Canada footprint with the opening of a store in Langley, B.C. – the Asian grocery chain’s first location in that market. The 40,000-square-foot space, located within the Willowbrook Shopping Centre, opens Friday.

Instacart spending $350M to acquire retail tech startup

Commercial  •  Canadian Grocer

Instacart has invested US$350 million to acquire Caper, an AI-powered shopping cart and checkout technology platform. Instacart says it aims to help retailers unify the in-store and online shopping experience for customers no matter how they choose to shop.

CaGBC award winners recognized for sustainability

Residential, Commercial  •  Sustainable Biz Canada

The Canada Green Building Council (CaGBC) announced its 2021 award winners, with buildings and individuals from Ontario, British Columbia and Alberta taking top honours. The awards recognize leaders transforming Canada’s building sector through CO2 reduction, environmental sustainability and health and wellness.

Indigenous call for suspension of McGill’s expansion

Commercial  •  Montreal Gazette

A group called the Mohawk Mothers (kanien’kehá:ka kahnistensera) is demanding “the immediate suspension” of McGill University’s expansion plan for Montreal’s old Royal Victoria Hospital site and an investigation into the possibility it could contain unmarked graves of Indigenous children.

Starlight unitholders approve $742M sale of U.S. multires

Residential  •  Canada Newswire  •  RENX

Starlight’s U.S. Multi-Family No. 1 Core Plus Fund (SCPO-UN-X) unitholders have approved the transaction in which a Sherrin U.S. fund will acquire its portfolio of seven class-A  multiresidential U.S. properties totaling 2,219 units. The transaction is valued at approximately $742 million Cdn.

Slate acquires Norwegian portfolio for $147M

Commercial  •  Business Wire

Slate Asset Management, a global alternative investment platform focused on real estate, announced today the acquisition of a 538,000-square-foot portfolio of 25 essential real estate assets in Norway for approximately $147 million Cdn. The acquisition marks Slate’s first in the Nordics.

Saks e-commerce business mulling $6B IPO

Commercial  •  Bisnow

Saks Fifth Avenue’s online sales arm – Saks – is interviewing potential underwriters this week for an initial public offering that could value the company at $6 billion. Saks had earlier spun off from Saks Fifth Avenue’s parent HBC earlier this year.

China’s policies weighing on investment: IMF

Residential, Commercial  •  Financial Post  •  CNBC  •  Seattle Times

China’s policy tightening on the property sector is weighing on real estate investment with signs of stress seen for some developers, Changyong Rhee, director of the IMF’s Asia and Pacific Department, said on Tuesday.

Home Capital considers selling riskier notes

Residential  •  Financial Post  •  Business Wire

Home Capital Group Inc., (HCG-T) the Canadian mortgage lender bailed out by Warren Buffett’s Berkshire Hathaway Inc. in 2017, may be open to selling the riskier notes from its future residential mortgage-bond offerings.

Buyers’ migration to small towns far from over: Soper

Residential  •  Financial Post  •  RENX

VIDEO: Phil Soper, CEO of Royal LePage, talks with the Financial Post’s Larysa Harapyn about the real estate market and the revival of small and medium towns in Canada.

High-end buyers still have pandemic in mind

Residential  •  Globe and Mail

Buyers with $5 million or more to spend in Toronto’s real estate market are not always spared the pressure of competition – particularly if a property looks like a comfortable place to ride out any potential future waves of the pandemic.

Zillow tumbles after it stops buying new homes

Residential  •  Bloomberg

Zillow Group Inc. (Z-Q) shares fell as much as 6.8 per cent in premarket trading Monday after the online real estate firm said it would stop buying new homes and work to clear a backlog of properties it already has.