Mosaic Homes creates Mosaic Living rental housing arm

RENX  Residential  •  Apartments, Condominiums, Homes  •  British Columbia

Vancouver-based Mosaic Homes has focused on designing and building homes throughout the Lower Mainland of British Columbia for over 20 years. Nearly 7,000 homes later, it’s launching a rental division, Mosaic Living, to meet burgeoning demand in the sector.

Bank of Canada hikes interest rate to 3.25%

Residential, Commercial  •  Toronto Star  •  Ottawa Citizen

The Bank of Canada raised its key overnight lending rate for the fifth time this year Wednesday morning — and says more hikes are coming. The bank raised the rate three quarters of a percentage point to 3.25 per cent.

Saputo family acquires former Mtl. hotel for $38M

Commercial  •  La Presse

Jolina, a Saputo family conglomerate, has acquired an Old Montreal building that until recently housed Le St-James hotel. The property, which belonged to Groupe Mach, chaired by long-time partner of the Saputo family Vincent Chiara, was acquired for nearly $38 million.

RoseFellow buys industrial land in Montreal, Ottawa

RENX  Commercial  •  Industrial  •  Greater Montreal

RoseFellow has spent $70 million to acquire a 1.35-million-square-foot, industrial-zoned site which it says is the last greenfield site in the West Island of Montreal. It has also acquired an industrial development property in Ottawa.

Feds announce $1.4B loan for FN’s Sen̓áḵw project

Residential  •  Vancouver Sun  •  Canada Newswire  •  Globe and Mail (Sub. required)

The government of Canada will help finance the Squamish First Nation’s Sen̓áḵw development in Kitsilano by providing a $1.4 billion low-interest construction loan. The Sen̓áḵw project is slated to be a high-density development with 6,000 homes in 11 towers.

Shannondale proposes 35-storey residential tower

Residential  •  Urban Toronto

Shannondale Developments has proposed a 35-storey, 391-foot-tall residential tower at 775 Vaughan Rd. in Oakwood Village. The Studio JCI-designed tower would include 483 residential units and would be set on a six-storey podium with two retail spaces at grade.

The Apartments Broker › A slowdown in transactions, ‘real’ sellers and the new normal

Ramona Ursu: Partner & Broker, Baron Realty

Emory expects all Canadians to return to the office

Commercial  •  Bloomberg  •  Globe and Mail  •  CBC

VIDEO: Allied Properties REIT (AP-UN-T) CEO Michael Emory discusses his expectations for this fall’s return to office. Looking at their exposure to real estate in urban cores, he says Toronto and Montreal are lagging Western Canadian cities in their return.

EV Plug-In: ProEV opens Montreal manufacturing plant

Commercial  •  Sustainable Biz Canada

Promark Electronics Inc. (ProEV) has opened a manufacturing and engineering site for commercial and industrial electric vehicles, which the company says is the largest of its kind in North America.

Supply chain relief on horizon for importers, exporters

Commercial  •  Business In Vancouver  •  Commercial Property Executive

Retailers and other businesses that depend on transpacific imports and exports could soon be swapping losses for wins in the supply-chain waiting game, according to recent market analysis from Container xChange.

Triovest Calgary proposal spurs heritage concerns

Residential, Commercial  •  Globe and Mail  •  RENX

Triovest’s proposal for a large mixed-use development in downtown Calgary that would include the tallest building in Western Canada has prompted concerns from a local advocacy group over what it describes as the dismantling of heritage sites in the area.

Average non-mortgage debt up 2.4% Y-O-Y: Equifax

Residential  •  Toronto Star  •  Financial Post

The amount of non-mortgage debt owed by Canadians is rising, boosted by new lending and higher spending linked to inflation, an Equifax Canada report states. Average non-mortgage debt per consumer was $21,128 in Q2, up 2.4 per cent year-over-year.

Lender forecloses on six Atlanta office towers, mall

Commercial  •  Atlanta Journal-Constitution

Six office towers and the mall at Peachtree Center were taken back by its lender, marking one of the largest foreclosures in Atlanta since the aftermath of the Great Recession. Miami-based Banyan Street Capital owned the properties since the mid-2010s.

With $1T shortfall, pensions scale up CRE investments

Residential, Commercial  •  Bisnow

Public pension funds have an estimated $6 trillion invested in real estate assets around the globe, and as economic and investment patterns change with the times, these institutions face mounting uncertainties with growing implications for CRE.

Hudson Pacific REIT buys Quixote Studios for $360M

Commercial  •  Globest.com

Hudson Pacific Properties REIT (HPP-N) has acquired L.A.-based Quixote Studios for $360 million, the latest mega-deal in the red-hot film production sector. Quixote rents 23 U.S. sound stages and a fleet of more than 500 cast trailers and trucks for film production operations.

Flagship acquires two U.S. MHCs for US$32.3

Residential  •  Canada Newswire

Flagship Communities REIT (MHC-U-T) has agreed to acquire two manufactured housing communities (MHCs) in Louisville, Ky.,  and Bloomington, Ill., for an aggregate purchase price of approximately US$32.3 million. The acquisitions are expected to close on or about Oct. 5, 2022.

Shortage of student housing national issue: Alignvest

Residential  •  REMI Network  •  RENX

“The shortage of student housing has definitely been highlighted as a large issue across the country for the 2022/23 academic year,” says Trish MacPherson, partner at Alignvest Student Housing REIT.  “Essentially, Canada is still behind where it should be.”

Canada is buying into the rent-to-own concept

Residential  •  CBC

When Christian Fracchia first heard about a rent-to-own opportunity in Port Moody, B.C., four years ago, he saw a way to realize his dream of first-time home ownership, so he put his name in a lottery for 30 units.

Montreal home sales drop 20% year-over-year

Residential  •  Toronto Star  •  Globe Newswire  •  Globe Newswire

The Quebec Professional Association of Real Estate Brokers says Montreal’s housing market shifted last month as sales dropped 20 per cent year-over-year and active listings rose by 37 per cent. The association says sales in August totalled 2,681, while active listings hit 13,715.

Ottawa resale transactions fall for sixth straight month

Residential  •  Ottawa Business Journal  •  Ottawa Citizen

Ottawa resale home transactions fell nearly 30 per cent year-over-year in August – the sixth straight month of year-over-year declines as rising interest rates and soaring prices have combined to slam the brakes on steady sales growth seen earlier in the pandemic.