Brett Miller making his mark at Canderel after Year One

RENX  Residential, Commercial  •  Condominiums, Office, Apartments, Retail  •  National

As Brett Miller marked his one-year anniversary as CEO of Canderel, he reflected on rejoining the company where he started his real estate career, and looked ahead at its plans for growth. Miller succeeded Canderel founder Jonathan Wener.

Champlain SH fund buys 8 Quebec retirement homes

RENX  Residential  •  Seniors Housing  •  Quebec

The Champlain SH Real Estate Fund announced Tuesday it has acquired Groupe Chateau Bellevue and its eight retirement residences, all located in the Province of Quebec. The owners also plan to build three to four new residences annually.

Carbonleo unveils new Royalmount vision

Residential, Commercial  •  Montreal Gazette  •  CBC  •  Canada Newswire

Carbonleo, the developer of the Royalmount mega-mall, is hoping to win over Montrealers’ hearts and minds by making the project greener and more pedestrian-friendly.

Equitable Bank moving into The Shift in Toronto

Commercial  •  Canada Newswire  •  RENX

Equitable Bank (EQB-T) announced it has signed a long-term lease for more than 175,000 square feet at 25 Ontario St. in Toronto, The Shift office development owned by First Gulf and the Healthcare of Ontario Pension Plan (HOOPP).

DP World acquires Fraser-Surrey Docks

Commercial  •  Business In Vancouver

Dubai-based DP World has completed the acquisition of Fraser Surrey Docks from Macquarie Infrastructure Partners. The deal was done through subsidiary DP World Canada Investment Inc., which is 45 per cent owned by Caisse de dépot et placement du Québec (CDPQ).

Banc Investments buys Halifax property for $37.6M

Residential, Commercial  •  Halifax ChronicleHerald

Alex Halef and his father Basim Halef, through Banc Investments Ltd., acquired the 3.3-acre former St. Patrick’s High School property in Halifax last month for $37.61 million. A residential project is planned along with some commercial space.

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F.N. high bid claims bankrupt Sechelt development

Residential, Commercial  •  Business In Vancouver

The Shíshálh (Sechelt) Nation bid $15 million to claim the 396.9-acre site of a failed mixed-use waterfront development on the Sunshine Coast north of Vancouver. The development had fallen into foreclosure when owner SSC Properties failed to get to public hearing.

B.C. introduces interim tax relief for small businesses

Commercial  •  CBC  •  Globe and Mail  •  Global News

B.C. has introduced a new interim program to allow local governments to provide property tax relief to small business and non-profits in the 2020 tax year.

Coronavirus impact worries Western retailers

Commercial  •  Western Investor

Manuel Bernaschek, who owns the Stefano Ricci store on Vancouver’s West Georgia Street, estimated about 35 to 40 per cent of his customers are visitors from China. As of Feb. 12, China-sourced coronavirus COVID-19 had killed 1,300 and infected more than 45,000 worldwide.

George Weston boosted by Choice Properties

Commercial  •  Bloomberg  •  Canada Newswire  •  Canada Newswire

George Weston Ltd. (WN-T) reported its fourth-quarter profit rose compared with a year earlier, boosted in part by an improvement in its underlying business, increased ownership in Loblaw and a full year of direct ownership in Choice Properties REIT.

REIT fourth-quarter financial results

Commercial  • 

Dream Office REIT, (D-UN-T), Globe Newswire

ERES REIT, (ERE-UN-X), Globe Newswire

Northview Apartment REIT, (NVU-UN-T), Globe Newswire

Plaza Retail REIT, (PLZ-UN-T), Canada Newswire

Slate Retail REIT, (SRT-U-T), Business Wire

Couche-Tard target Caltex fields more suitors

Commercial  •  Reuters

Caltex Australia is talking to “a number of parties” in addition to its announced suitors, Montreal-headquartered Alimentation Couche-Tard (ATD-B-T) and Britain’s EG Group, about potential transactions, interim chief executive officer Matthew Halliday said on Tuesday.

Amazon opens cashier-less grocery store

Commercial  •  CTV

Amazon is opening its first cashier-less supermarket, where shoppers can grab milk or eggs and walk out without waiting in line or opening their wallets. It’s the latest sign Amazon is serious about shaking up the $800 billion grocery industry.

Top five U.S. self-storage markets

Commercial  •  CP Executive

The U.S. self-storage sector experienced a record-high number of deliveries in 2018. That trend of heightened development activity continued in 2019, putting pressure on rental rates in most U.S. markets.

Hong Kong poised for another real estate crisis

Residential  •  South China Morning Post  •  South China Morning Post

Hong Kong’s commercial banks are cutting their valuations of mortgaged homes due to the double whammy of a viral epidemic with months of anti-government protests, in a move that could drive more borrowers into negative equity and provoke panic selling.

Cresford lawsuit reveals tangled web of financing

Residential  •  Globe and Mail (Sub. required)

The legal battle between the former president of Toronto condominium builder Cresford Developments and its chair Daniel Casey has just begun, but already court filings are shedding light on the sometimes secretive world of high-rise construction financing.

Alberta to add tourism levy to short-term rentals

Residential  •  CBC  •  CBC

Renting an Airbnb or VRBO in Alberta will soon be more expensive. The Alberta government plans to introduce details this week about extending its tourism levy to short-term rentals like Airbnb, HomeAway and VRBO.

Are Ottawa, Montreal next markets to overheat?

Residential  •  Globe and Mail (Sub. required)

Royal Bank of Canada is raising red flags about the Ottawa and Montreal housing markets, warning they’re in danger of overheating. “Ottawa and Montreal have been Canada’s hottest markets in the past year,” RBC senior economist Robert Hogue said.

Montreal tenants swapping apartments to avoid rising rents

Residential  •  CBC

With rising rents and the city’s vacancy rate at a 15-year low, housing rights groups say it appears a growing number of Montrealers are opting to swap.