Oxford building Phase 1 at $825M GTA industrial park

RENX  Commercial  •  Industrial, Land  •  Toronto / GTA

Oxford Properties has broken ground on the $825-million James Snow Business Park in the Greater Toronto Area community of Milton, where it plans to build a highly sustainable logistics hub of up to 3.3 million square feet of space.

QScale plans $1.5B Quebec data centre

Commercial  •  La Presse

In addition to advancing the second phase of its data processing complex in Lévis, Quebec-based QScale is preparing the roadmap for a second campus estimated at $1.5 billion with investment bankers, including Americans.

Strategic Storage acquires 890-unit Burlington facility

Commercial  •  Business Wire

Strategic Storage Trust VI, Inc., a REIT sponsored by an affiliate of SmartStop Self Storage REIT, Inc., announced the acquisition of an approximately 890-unit self-storage facility in Burlington. The 6.5-acre property is comprised of approximately 92,400 square feet of rental space.

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Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Walmart dist. centre to be Harden’s first industrial build

RENX  Commercial  •  Industrial, Retail  •  Greater Montreal

UPDATED WITH CEO INTERVIEW: Harden is expanding into industrial development and has a heavyweight tenant, Walmart Canada, for its initial project in the Greater Montreal city of Vaudreuil-Dorion.

Regus to lease 10,000 sq. ft. in downtown Saskatoon

Commercial  •  Saskatoon StarPhoenix

Regus is set to lease approximately 40 private offices, meeting rooms and other amenities spread over about 10,000 square feet at the ScotiaBank Building on Second Avenue in downtown Saskatoon. Regus is set to move into the Pillar Properties building in November.

Retirement community breaks ground in Brampton

Residential  •  Canada Newswire

Jeevan Niwas announced the official groundbreaking of its first retirement village at 9664 Goreway Dr. in Brampton. The $80-million development will provide 155 units of housing and care services for Greater Toronto Area seniors of South Asian descent.

Vancouver CIBT student housing bldg. to open in 2023

Residential  •  Daily Hive

CIBT Education Group (MBA-T) announced its four-storey, 48,000-square-foot Global Education City-branded student housing building at 431 West King Edward Ave., next to SkyTrain King Edward Station in Vancouver, will open with 200 student beds for the spring 2023 semester.

Kingston Residences proposes 13-storey condo

Residential  •  Urban Toronto

Kingston Residences has proposed a 13-storey condominium at 4674 Kingston Rd. in Scarborough’s West Hill. The BDP Quadrangle-designed building would consist of 483 residential units comprising 162 studios, 199 one-bedrooms, 73 two-bedrooms and 49 three-bedrooms.

Condo becomes Canada’s first WELL-Gold residence

Residential  •  Sustainable Biz Canada

A rental condo complex in Quebec City has been certified as the first Gold-level WELL certified residential building in Canada, adding credence to its sustainability and residential well-being commitment.

B.C. seeks forfeiture of 11 properties assessed at $15M

Commercial  •  CTV  •  Vancouver Sun

The B.C. government is attempting to seize millions of dollars’ worth of real estate officials allege was purchased with proceeds from an unlicensed cannabis shop in Vancouver’s Downtown Eastside. David and Shannon Bauman’s 11 properties were assessed at nearly $15 million combined.

TWC increases ownership in Automotive Properties

Commercial  •  Globe Newswire  •  RENX

TWC Enterprises Limited (TWC-T) announced it has acquired over 909,486 trust units of Automotive Properties REIT (APR-UN-T) between July 19 and Sept. 16 at a weighted average price of $13.26 per unit. The units represent 2.29% of the REIT’s issued and outstanding units.

Ex-CPP CEO Mark Machin launches investment firm

Residential, Commercial  •  Globe and Mail (Sub. required)

Mark Machin, who departed the CEO job at CPP Investments after his controversial decision to travel internationally to obtain a COVID-19 vaccine, has emerged as CEO and co-founder of new investment company New York-based Opto Investments Inc.

Ocean West sells $900M, 7-property logistics portfolio

Commercial  •  PR Newswire

An investment group led by Ocean West Capital Partners and Tiger Alternative Investors announced the sale of a seven-property industrial portfolio for over $900 million. The portfolio comprises over seven million square feet of American industrial properties.

Biggest U.S. banks scale back on CRE lending

Commercial  •  Bloomberg

Banks including Wells Fargo & Co., Bank of America Corp. and JPMorgan Chase & Co. have pulled back on financing for offices and other commercial real estate following a record burst of lending in the first half of this year.

Hines returning keys to D.C. office building: Report

Commercial  •  Bisnow  •  Business Wire  •  Commercial Property Executive

Hines is giving up on a downtown D.C. office building it has owned for over a quarter century, reaching an agreement with its lender to relinquish the property after its anchor tenant departed for a new waterfront development.

Home ownership rate on the decline: Statscan

Residential  •  CTV  •  Toronto Star

According to Statistics Canada‘s latest census release, two-thirds of Canadians owned a home in 2021, down from a peak of 69 per cent a decade earlier. Young millennials in particular were less likely to own a home in 2021 than they were in 2011.

Toronto homebuyers deploying lowball offers

Residential  •  Globe and Mail (Sub. required)

In the slouching Toronto-area real estate market, figuring out which seller is motivated to sell at a discount is a game patient buyers are prepared to play. One of the tactics is the deployment of a lowball offer.

Ottawa prices still topping national average

Residential  •  RE/MAX blog

Prices remain strong while demand is waning in Ottawa housing. In fact, the typical sales price is higher than the market average. On a year-to-date basis, the average sales price for residential and condos surged 10 and nine per cent, respectively.

Manitoba housing hits the brakes in August

Residential  •  Winnipeg Sun

The hot housing market is beginning to level off, according to the Manitoba Real Estate Association. “We knew the frenzy of activity and the price acceleration we experienced during the pandemic was unsustainable,” MREA president Julie Friesen said.