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Industrial CRE an investor darling: Rents ‘just exploded’
Industrial CRE an investor darling: Rents ‘just exploded’
The industrial real estate sector’s 2019 total return rate far outpaced others on the MSCI/REALPAC Canada Annual Property Index, and it’s looking good in 2020. “We still have a tremendous amount of runway in Canada on e-commerce,” said Granite REIT’s Teresa Neto.
Industrial records set at Winnipeg’s CentrePort Canada
It was a record-setting year at Winnipeg’s inland port in 2019. More than $117 million of development and building permits were issued at CentrePort Canada for industrial space totaling more than 725,000 square feet in the rural municipality of Rosser.
WPT to buy $730M industrial portfolio from PIRET
WPT Industrial REIT (WIR-U-T) says it will spend US$730 million to acquire a portfolio of 26 U.S. distribution and logistics properties totaling approximately nine million square feet of gross leasable area, as well as an 85-acre parcel of land.
Tech, student sectors drive Montreal multiresidential
A huge growth in international students and a booming tech sector have combined to make Montreal’s multi-residential market extremely favourable to investors, participants at the Quebec Apartment Investment Conference were told.
Queen’s Park floats new powers to expropriate land
• Toronto Star • CBC
The Ontario PC government has introduced measures that would expand the province’s power to expropriate property and reduce requirements for environmental approvals, in a move that it says will speed up the construction of badly needed new transit projects.
Perkins and Will unveils sustainable office
Global design firm Perkins and Will had three goals when planning its new Toronto office at Yonge Street and Adelaide Street East. It wanted to prioritize sustainable access, strengthen connections to the city’s design culture, and “practise what we preach.”
ViveRE buys 10 Moncton multires properties for $30M
• Canada Newswire • RENX
ViveRE Communities Inc. (VCOM-X) announced it has entered into an exclusive letter of intent to acquire a 100 per cent interest in 10 multi-unit residential properties comprising 223 units located in Moncton. The purchase price is $30 million.
Colliers Proptech Accelerator opens applications
• Globe Newswire • RENX
Colliers International (CIGI-T) is accepting applications for the 2020 Colliers Proptech Accelerator Powered by Techstars. Now in its third year, the program continues to seek and support enterprising proptech companies that will help lead the real estate industry into the future.
How Wish built a retail empire under Amazon’s nose
Before Peter Szulczewski became Canada’s youngest billionaire, he was a software developer on Google LLC’s payroll. He parted ways with Google in 2009, leaving behind an impressive legacy: code that helped advertisers expand their reach, and a $100-million spike in revenue.
Pier 1 Import files for bankruptcy protection
• CBC • Globe and Mail (Sub. required)
Home goods retailer Pier 1 Imports announced it is filing for Chapter 11 bankruptcy protection in the U.S. a month after saying it would close all its stores in Canada. The Fort Worth, Texas-based company is pursuing sale of its U.S. locations.
Ontario court approves Cineworld’s Cineplex takeover
Cineplex Inc. (CGX-T) says the takeover deal it signed with Cineworld PLC has received approval from the Ontario Superior Court. The approval brings U.K.-based Cineworld one step closer to owning Cineplex and its 165 Canadian theatres and 1,695 film screens.
EG Group takes on Couche-Tard to win Caltex Australia
EG Group, the U.K. company led by Mohsin and Zuber Issa, joined the bidding war for Caltex Australia Ltd., seeking to beat a rival offer by Montreal-headquartered Alimentation Couche-Tard (ATD-A-T). The company said it would pay US$2.6 billion in cash.
Waterfront Toronto still uncertain of risks
• Globe and Mail (Sub. required) • Winnipeg Free Press • RENX
Waterfront Toronto is not yet sure how it could handle certain risks that might arise from building a smart-city development with Sidewalk Labs along Lake Ontario, even as it signed off on 144 proposals the Google affiliate hopes to implement.
Feds exploring proposed $2B N&L tunnel
The Liberal government is exploring spending federal cash on a long-considered proposal to link Newfoundland to the mainland. The proposed link could cost up to $2 billion.
Warburg Pincus makes $1.2B bid for National Storage REIT
National Storage REIT on Tuesday revealed New York-based private equity firm Warburg Pincus as the third suitor to be in the race to buy Australia’s largest self-storage operator, offering $1.16 billion US.
How Blackstone became the world’s biggest corp. landlord
• Fortune
The Cosmopolitan and Bellagio hotels on the Las Vegas Strip. Stuyvesant Town, the largest apartment complex in Manhattan. Embassy Office Parks in Bangalore, one of India’s biggest IT destinations. All are owned by investment funds controlled by Blackstone Group.
Ottawa unveils new mortgage stress test rules
• CBC • Reuters • Globe and Mail
Starting in April, the government will change the rules that cover mortgage lending in a way that should, in the short term at least, make it easier to qualify for a loan to buy a home.
No new relief for B.C. renters, homebuyers
• Business In Vancouver • Globe and Mail
British Columbian renters or would-be homebuyers looking for relief will be disappointed, as the B.C. Budget announcement contained no new measures or changes to current housing policy, beyond funding already slated within its existing 10-year housing plan.
Should companies provide homes for T.O. workers?
• Toronto Star • Toronto Star • Globe and Mail (Sub. required)
OPINION: Between 2016 and 2019, the GTA added more than 325,000 jobs, but only 102,000 new homes. And only two per cent of those new homes are classified as affordable.
Toronto rooming houses run rampant on Airbnb
• Globe and Mail (Sub. required)
The house listed on Airbnb at 1 Toba Dr. in North York looks like a typical product of 1960s upper-middle class suburban living. Inside is a very different scene: Room after room is filled with racks of bunk beds.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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