Growing Marwest REIT acquires Winnipeg apt. building

RENX  Residential  •  Apartments  •  Winnipeg

Marwest Apartment REIT (MAR-UN-X) has agreed to purchase Prairie View Pointe property in Winnipeg from Ironclad Properties for $42 million. The investment grows the fledgling REIT’s assets by 42 per cent.

Intuit opens 116K-sq.-ft. Canadian HQ in The Well

Commercial  •  Business Wire  •  RENX

Intuit (INTU-Q), the global financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced the official opening of its new 116,000-square-foot Canadian headquarters at The Well in Toronto’s downtown core.

The Long View › Is Canada’s REIT sector softening?

Richard Crenian: Founder & President, ReDev Properties

First Capital sells stake in King High Line for $149M

RENX  Residential  •  Retail, Apartments  •  Toronto / GTA

First Capital REIT (FCR-UN-T) says it has a firm agreement to sell its remaining 50 per cent non-managing interest in the residential component of the three-tower King High Line property at 1100 King Street West in Toronto for $149 million.

Cineplex reaches out over merger with Regal: Report

Commercial  •  Globe and Mail (Sub. required)

Canadian cinema chain operator Cineplex (CGX-T) has reached out to the lenders of Cineworld to revive a potential merger with the bankrupt rival’s Regal Entertainment, the Wall Street Journal reported on Wednesday, citing sources.

PROREIT completes $18.75M sale of retail properties

Commercial  •  Canada Newswire  •  RENX

PROREIT (PRV-UN-T) announced it has completed the sale of a portfolio of nine non-core retail properties totalling approximately 94,000 square feet of gross leasable area, located in Western Canada, for gross proceeds of $18.75 million.

Canopy Growth selling Tweed, Tokyo Smoke stores

Commercial  •  Financial Post  •  Canada Newswire

Canopy Growth Corp. is getting out of the cannabis retail business with two deals to divest its Tweed and Tokyo Smoke stores. The Smiths Falls, Ont., cannabis company (WEED-T) announced Tuesday that it sold all of its stores outside Alberta.

ONE Properties opens Bow River Shopping Centre

Commercial  •  Canada Newswire  •  RENX

ONE Properties, an integrated real estate investment firm, announced the opening of its Bow River Shopping Centre in Calgary. The 15.2-acre site is comprised of retail and residential developments with an 86,200-square-foot Real Canadian Superstore serving as the anchor tenant.

Two Sevens acquires 46-unit Kingston multires.

Residential  •  Canada Newswire  •  RENX

Two Sevens Capital Group of Companies announced today it has acquired a 46-unit 3.5-storey multiresidential building at 300 Regent St. in Kingston, Ont.,  for its Ontario-focused mid-cap portfolio. The building offers 12 one-bedroom and 34 bachelor units.

Altree, EllisDon top off 35-storey condo tower

Residential  •  On-Site Magazine  •  RENX

The strategic partnership between Altree Developments and EllisDon Developments in Etobicoke has reached a new milestone with the topping off of the 35-storey Thirty Six Zorra. The building offers modern condominium suites ranging from 440 to 1,306 square feet.

Westland proposes 67-storey mixed-use in Surrey

Residential, Commercial  •  urbanYVR  •  RENX

A 67-storey, mixed-use condominium and office tower is proposed for Surrey City Centre by Westland Living. The Chris Dikeakos Architects-designed development would include approximately 200,000 square feet of office and retail space and 746 residential units.

Lightspark, Scotiabank to pilot home decarbonization

Residential  •  Sustainable Biz Canada

Cleantech software company Lightspark Software Inc. is piloting its home software decarbonization platform in Calgary and Edmonton with support from Scotiabank.

QuadReal, IGIS launch $1B Korean logistics venture

Commercial  •  Korea Economic Daily  •  IPE Real Assets  •  Deal Street Asia

IGIS Asia Investment Management Pte., the Singapore-based subsidiary of South Korea’s largest real estate manager IGIS Asset Management, and Vancouver-based real estate investor QuadReal Property Group will set up a $1 billion joint venture to develop grade-A logistics centers in Korea.

U.S. office demand below half of pre-pandemic pace

Commercial  •  Business Wire  •  Financial Post  •  Business Wire

As summer came to a close, new demand for U.S. office space fell for the third consecutive month in August, sinking below half of its average pre-pandemic pace, according to the latest VTS Office Demand Index (VODI) analysis.

‘Dark days ahead’ for U.S. CRE

Commercial  •  Bisnow  •  Bisnow  •  Bisnow

For the leaders of some of the biggest investment vehicles in commercial real estate including KKR, the matter of whether the U.S. is on the verge of a recession is no longer a question of if, but when.

Chinese company aims to sell 3 U.S. resorts for $1.3B

Commercial  •  Fox Business  •  Bisnow  •  Financial Post

Chinese company Dajia Insurance Group Co. is looking to sell three major U.S. resort hotels – the Montage in Laguna Beach, Calif.,, the Four Seasons resort in Jackson Hole, Wyo. and the Four Seasons in Scottsdale, Ariz. – for a combined $1.3 billion.

B.C landlords grapple with lengthy residential tenancy delays

Residential  •  Western Investor  •  CBC

A North Vancouver landlord says lengthy delays at the B.C. Residential Tenancy Office have left him with no recourse after his tenants stopped paying rent shortly after moving into his Deep Cove property.

Home prices to decrease 2.2% this fall: RE/MAX

Residential  •  Toronto Star  •  Canada Newswire

A report by RE/MAX Canada forecasts the national average home sale price in Canada will fall 2.2 per cent in the final months of 2022. The network of real estate brokers and agents says the moderation comes amid rising interest rates.

Bidding makes a comeback in Toronto real estate

Residential  •  Globe and Mail (Sub. required)

Real estate buyers are finding a few more listings to choose from after a slow start to the fall market in the Toronto area, but buyers are clashing over some properties and leaving others to languish.

Has the time finally come for reverse mortgages?

Residential  •  Globe and Mail

If your first reaction to the concept of a reverse mortgage is skepticism, Steve Ranson — CEO of HomeEquity Bank, the largest provider of reverse mortgages in Canada — was once in your shoes.