Pinnacle to launch 95-storey T.O. SkyTower condos

RENX  Residential, Commercial  •  Condominiums, Office, Retail  •  Toronto / GTA

Pinnacle International is launching the second phase of its mixed-use Pinnacle One Young development, the 95-storey SkyTower condo tower which will dominate a significant portion of the city’s skyline. SkyTower will rise 1,027 feet in height.

Inside Brookfield’s $500B global empire

Commercial  •  Financial Post  •  National Real Estate Investor  •  Livemint

Brookfield Asset Management (BAM-A-T) is a name that towers over the global investment industry, even if it receives less attention than rivals of similar size. The name adorns the skyscrapers of London’s Canary Wharf, Berlin’s Potsdamer Platz and New York.

Calgary Co-op acquiring key Marda Loop site

Commercial  •  Calgary’s Business

Grocery chain Calgary Co-op is acquiring a key site in the heart of the trendy southwest Marda Loop neighbourhood for future development. The company announced Thursday the Marda Loop Village is a 1.77-acre property.

Calgary’s TELUS Sky signs tech firm as an anchor

RENX  Commercial  •  Office, Technology  •  Calgary

A glimmer of hope has appeared for Calgary’s downtown office market with the leasing of 80,000 square feet to a learning technology company in the new TELUS Sky tower. Absorb Software will lease five floors in the 60-storey skyscraper.

UNESCO wants Château Laurier addition re-assessed

Commercial  •  Ottawa Citizen  •  RENX

UNESCO warns the planned addition to Ottawa’s Fairmont Château Laurier could damage the “viewscape” and the overall value of the Rideau Canal, a World Heritage site. It wants the project held until it is re-assessed.

Montreal’s Olympic Tower finally has a tenant

Commercial  •  MTL Blog  •  RENX

For the next 15 years, Desjardins will house its call and administrative centres in Montréal’s Olympic Stadium and for the first time since its opened, architects have pulled back the curtain and invited the media inside.

Montreal adds $1.7M to CRE development funding

Commercial  •  Montreal Gazette

Montreal is investing an additional $1.7 million in local development corporations for commercial streets. Plateau-Mont-Royal mayor Luc Rabouin announced the shot in the arm for the Sociétés de développement commercial (SDC) at the weekly executive committee meeting.

Van. office vacancy rate to keep falling: AY

Commercial  •  Business In Vancouver

Metro Vancouver’s already scorching-hot office market is likely to see even further tightening of vacancy rates to new record lows over the next year, according to a new report by Avison Young.

Vancouver’s Olympic Village thrives after shaky start

Residential, Commercial  •  Business In Vancouver

Anyone visiting Vancouver’s Olympic Village today is likely to see cyclists riding along the seawall, residents walking dogs, shoppers leaving stores with purchases and others sitting outside on benches or at the Terra Breads café, enjoying coffees or sandwiches.

Vancouver looking to prevent vacant storefronts

Commercial  •  Daily Hive  •  Western Investor

Vancouver city council was provided with an update on the ongoing retail and commercial district small business study in response to the rising number of independent closures and storefront vacancies and the impact on neighbourhood character and shopping area vibrancy.

REOC financial results

Commercial  • 

Brookfield Asset Management, (BAM-A-T), Globe Newswire

Mainstreet Equity Corp., (MEQ-T), Canada Newswire

REIT fourth-quarter financial results

Commercial  • 

Choice Properties REIT, (CHP-UN-T), Canada Newswire

Killam Apartment REIT, (KMP-UN-T), Canada Newswire

SmartCentres REIT, (SRU-UN-T), Globe Newswire

Subversive REIT, Sedar

Couche-Tard boosts Caltex Australia offer

Commercial  •  Reuters  •  Canada Newswire

Caltex Australia Ltd (CTX.AX) said Montreal-headquartered Alimentation Couche-Tard Inc. (ATD-A-T) has raised its buyout offer to $7.9 billion Cdn in a final attempt to sway the oil refiner and convenience store firm after interest from Britain’s EG Group.

Dalfen acquires Texan class-A industrial asset

Commercial  •  Canada Newswire  •  RENX

Dalfen Industrial has acquired Schertz Distribution Center at 17745 Lookout Rd. in Schertz, Texas, near San Antonio. The new class-A industrial property totals 187,288 square feet and is over 70% leased to two major tenants. Financial details were not disclosed.

Structurlam hoping to spur timber popularity in U.S.

Commercial  •  talkbusiness.net

In early 2018, Structurlam Mass Timber Corp. hired Hardy Wentzel as its new CEO. He had a prioritized strategic plan: Expand the Canadian-based manufacturing company with a southern U.S. facility.

Singapore’s GIC acquires LG Group’s China HQ for $1.15B

Commercial  •  Mingtiandi

Singapore’s GIC is spending $1.15 billion US to ramp up its Beijing office portfolio with mainland China’s biggest office acquisition since early last year. The sovereign wealth fund acquired the LG Twin Towers in the Chinese capital’s Guomao central business district.

What’s in a name? For developers, millions

Residential  •  Vancouver Sun

The Vancouver luxury market targets foreign buyers as much as it does domestic ones. And whatever developers are doing with English-sounding and Latinate names seems to be working. The stylish units of The Empire at the Park sold out quickly.

Skalbania sued over sale of Vancouver home

Residential  •  Vancouver Sun

High-profile Vancouver businessman Nelson Skalbania is being sued over the sale of his $13.4-million home on Point Grey Road. The plaintiff is seeking completion of the contract or damages in lieu of completion, or damages for breach of contract.

Revera launches redevelopment of London care home

Residential  •  Daily Commercial News  •  RENX

Mississauga-based Revera has announced construction is underway on the redevelopment of Elmwood Place Long Term Care home in London, Ont. The project is the company’s first long-term-care redevelopment project to break ground in Ontario.

Edison Properties plans ‘memory care’ facility

Residential  •  Winnipeg Free Press

Winnipeg apartment developer Edison Properties is preparing to enter the elder care business, planning an assisted-living facility for seniors, with a special unit for those who have cognition-impaired conditions such as Alzheimer’s disease.