AIP Realty Trust, AllTrades and a niche U.S. offering

RENX  Commercial  •  Industrial  •  International

AIP Realty Trust and its strategic partners are looking to fill what they feel is a huge gap with a portfolio of light industrial flex facilities focused on small businesses and the trades and services sectors in the United States.

Slate Office sells Toronto office buildings for $97M

RENX  Commercial  •  Office  •  Toronto / GTA, International

Slate Office REIT (SOT-UN-T) has sold 95-105 Moatfield Dr. in Toronto for $97 million to an undisclosed purchaser. The two towers combined have 405,407 square feet of office space with three levels of underground parking.

Invest in Canadian apartment REITs: Dennis Mitchell

Residential  •  Bloomberg

VIDEO: Dennis Mitchell, CEO and chief investment officer at Starlight Capital, discusses the TSX as the Bank of Canada continues to increase rates. Mitchell likes to invest in companies at prices that offer enough return for the risk.

Coquitlam OKs 18-building mixed-use project

Residential, Commercial  •  Western Investor

Coquitlam city council has greenlit TriCity Central, a transit-oriented development by Marcon and QuadReal that plans 18 buildings housing up to 15,000 residents. Five buildings will rise in Phase 1 while four will be built in Phase 2, with a full build-out from 10-15 years.

Burnaby dev. eyes Indigenous film academy

Residential, Commercial  •  Business In Vancouver

The 40-acre Willingdon Lands development is planned to introduce 5,200 new housing units to Burnaby — but also in the works are approximately 450,000 square feet of film and TV production studio space to train Indigenous people from across Canada.

18- and 20-storey mixed-use proposed for Hamilton

Residential  •  Hamilton Spectator

Hamilton builder Kyle Camarro hopes to rezone a long-vacant grassy lot to make way for mixed-use buildings 18 and 20 storeys high. The plan calls for a combined 564 residential units and a six-storey podium in addition to 3,832 square feet of ground-floor commercial.

The Property Law Hub › Relief for commercial tenants in the age of COVID-19: Courts once again side with landlords

Daniel Waldman: Lawyer, Dickinson Wright LLP

Spire proposes 24-storey mixed-use in downtown T.O.

Residential, Commercial  •  Urban Toronto

Spire Properties Ltd., is proposing a 24-storey mixed-use development at 237 Victoria St. in downtown Toronto. The IBI Group-designed proposal features a 18-storey building rising above a six-storey podium and would provide 256 residential units and 4,478 square feet of retail space.

Loblaw rolls out first self-driving delivery trucks

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

The delivery truck slowly turning out of the parking lot of Loblaw Companies Ltd. (L-T) headquarters might seem unremarkable. However, look closer and you may notice that the steering wheel turns itself. There is no one in the driver’s seat.

Buggy opens new dark store in London, Ont.

Commercial  •  Canadian Grocer  •  Canada Newswire

Gocery delivery business Buggy has opened a new dark store in London, Ont. Founded in 2014, the company started opening its own stores in the summer of 2022, including in Toronto’s Leslieville neighbourhood.

Hi Five Chicken adding five more B.C. locations

Commercial  •  Canada Newswire

Hi Five Chicken, a 24-hour fast-food chain that started in 2016, will open a minimum of six more locations in B.C. with more on the way. Hi Five Chicken will open on Broadway in Vancouver, Langley, Surrey, Coquitlam, Richmond and Victoria.

3 REITs with durable cash flows

Residential, Commercial  •  Motley Fool

Minto Apartment (MI-UN-T) maintains a very strong business outlook. Slate Grocery (SGR-U-T) is appealing because of the defensive and resilient nature of the business. Nexus Industrial (NXR-UN-T) owns a real estate portfolio comprising of  quality industrial, office and retail properties.

Office to residential conversions proving difficult

Residential, Commercial  •  Wealth Management  •  Bisnow  •  Marketplace

Brookfield Properties and some of its fellow multiresidential juggernauts are celebrating flashy new redevelopments that transformed old office towers into gleaming, luxury apartments. However, such redevelopments remain difficult to pull off and represent a small percentage of the apartment pipeline.

European CRE’s decade-long party coming to an end

Commercial  •  Bloomberg

Deutsche Bank AG’s gleaming new London headquarters was a sought-after asset in February, attracting bids of close to $1.1 billion US, but then came Russia’s war in Ukraine, threatening the foundations of Europe’s decade-long real estate boom.

M&G Real Estate buys Japan office building for $700M

Commercial  •  Bloomberg  •  IPE Real Assets

M&G’s real estate arm acquired a prime office building in Yokohama for more than $700 million, as the firm continues to build its portfolio in Japan. The 21-storey Minato Mirai Center Building is located in Yokohama’s business district of Minato Mirai.

U.S. home price’s biggest monthly drop since 2009

Residential  •  Bloomberg  •  Business Wire  •  Business Wire

Home prices in the U.S. have taken a turn and are now posting the biggest monthly declines since 2009.  Median home prices fell 0.98% in August from a month earlier, following a 1.05% drop in July, mortgage-data provider Black Knight Inc. said Monday.

New Toronto-area listings hit 20-year low: TRREB

Residential  •  Toronto Star  •  Financial Post  •  CP24

A 20-year low in new home listings last month is buoying Toronto-area home prices, which in September rose slightly month-over-month to $1.09 million, said the Toronto Regional Real Estate Board (TRREB) on Wednesday.

Vancouver-area home sales down 46% Y-O-Y

Residential  •  CBC  •  Bloomberg  •  CTV

The Real Estate Board of Greater Vancouver says September’s home sales dropped 46 per cent compared to the same month last year and were down 10 per cent from August 2022 as interest rate increases cool buyer sentiment.

Insufficient city planner pay driving up T.O. house prices?

Residential  •  Toronto Star

Developers say a shortage of planners at city hall is a key reason Toronto approvals average nearly three years. The city has trouble keeping planners because it can’t compete with private-sector salaries and the lower cost of housing elsewhere.

New rules coming for B.C. mortgage brokers

Residential  •  Toronto Star

The British Columbia government is bringing in new laws to replace the outdated Mortgage Brokers Act as it follows recommendations from an inquiry into money laundering. One pending change is increasing fines to a maximum of $500,000 for breaking the rules.