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Allied Properties a ‘big believer’ in Montreal CRE: Emory
Allied Properties a ‘big believer’ in Montreal CRE: Emory
Montreal’s expanding role as a hub for knowledge workers should allow Allied Properties REIT’s (AP-UN-T) growing portfolio to perform extremely well, says CEO Michael Emory. “Montreal is becoming a very, very successful and sought-after city for knowledge-based organizations.”
Retail’s ongoing evolution: Intensify, diversify, technify
“From the rise of e-commerce to the growth of the experience, the massive influx of luxury retailers . . . and the closure of some big names, the reimagining of spaces and the addition of new uses, the common thread is change.”
Gateway puts Alberta casinos up for sale
• Globe and Mail (Sub. required)
Gateway Casinos & Entertainment Inc. has put its Alberta casinos up for sale as it prepares to go public in a reverse takeover of a U.S.-based special-purpose acquisition corporation, the company said on Tuesday.
Catalyst extends life of US$1B investment fund
• Globe and Mail (Sub. required)
Toronto-based Catalyst Capital Group Inc. has pushed back by one year the deadline for returning money to backers of one of its largest funds, and warned investors it might need another extension to buy time to cash in its holdings.
Loblaw to consolidate two distribution centres in 2021
• CBC • Ottawa Business Journal • Globe and Mail
Nearly 800 employees of grocery distribution centres in Quebec and Ontario will lose their jobs by the end of 2021, when the supermarket giant Loblaws switches to an automated system, the company said Tuesday.
Rohit offers $125K for pitch for Edmonton project
Edmonton developer Rohit Group of Companies is offering $125,000 to whoever can make the best idea for a restaurant or retail business in the planned Stadium Yards neighbourhood.
Fortress investor lawyers criticize Lamb offer
• Globe and Mail (Sub. required)
Lawyers representing investors in syndicated mortgages of the failed lender Fortress Real Developments Inc. are urging their clients not to respond to an “inappropriate” financial offer from condominium developer Brad Lamb.
Three lessons from Toronto’s smart-city negotiations
• Forbes
Cities around the world have been paying close attention to Sidewalk Labs’ efforts to win approval for a smart-city development in Toronto. The city’s conditional approval shows it got much of what it wanted from its negotiations with big tech.
Montreal’s urban sprawl grows steadily worse: Report
Urban sprawl is intensifying on the outskirts of Montreal, according to a new report by the Montreal Metropolitan Community. The report found the number of people driving into the city from outlying areas has climbed steadily over the last decade.
Ottawa poised to grow, meet workforce demand
• Globe and Mail • CBC • Ottawa Citizen
On any given weekday, you might find Paradigm Properties CEO Ashley Hopkins aboard one of Ottawa’s new light-rail trains on her way to an important meeting downtown. In the nation’s capital, it’s a sign of a city on the rise.
Hamilton LRT bidders pulled back early
• Toronto Star • CBC • CBC
The procurement for the Hamilton LRT was in trouble months before Queen’s Park cancelled the transit project citing ballooning costs, with two of the three groups shortlisted to bid on the line declining to participate in the process.
Public libraries reinvent themselves
We predicted their death with the arrival of the digital book and Amazon. They are more alive than ever. Public libraries today are huge agoras that attract more and more visitors in New York, Helsinki, Paris and in Quebec.
Subversive REIT completes $200M IPO
Subversive REIT announced the closing of its initial public offering of 20,000,000 class-A restricted voting units for gross proceeds of $200 million US. The REIT has granted the underwriters (as defined below) an over-allotment option to purchase up to an additional 3,000,000 units.
Starlight unitholders approve Drimmer, PSPIB transaction
• Canada Newswire • RENX
Starlight U.S. Multi-Family (No. 1) Value-Add Fund (SUVA.A-X) unitholders approved the indirect acquisition of the fund’s portfolio of three multifamily properties in the Southern U.S. by the Public Sector Pension Investment Board and fund CEO Daniel Drimmer for approximately CAD$312 million.
Manhattan office market soared to record levels in 2019
• Bisnow
Manhattan’s office market hit the highest leasing volume level in nearly two decades last year, showing companies’ appetite for new Big Apple offices has not yet been satiated. Nearly 43 million square feet of office leases were signed in Manhattan in 2019.
Toyota to build prototype city of the future in Japan
• Reuters • PR Newswire • Globe and Mail
Toyota Motor Corp. plans to build a prototype “city of the future” at the base of Japan’s Mt. Fuji, powered by hydrogen fuel cells and functioning as a laboratory for autonomous cars, “smart homes,” artificial intelligence and other technologies.
T.O. paying the price for decade of low taxes: Report
• Toronto Star • Toronto Star • Globe and Mail (Sub. required)
A decade of austerity budgets at city hall has cost Toronto greatly when it comes to transit, housing and child care, a new report from advocacy group Social Planning Toronto outlines.
New and old Canadians flooding into 10 towns
• Financial Post • Canada Newswire
The search for affordable housing is giving rise to new growth centres. A new report by U-Haul, a moving equipment and storage rental company, said North Vancouver was the most popular internal migrant destination among its Canadian clients.
Montreal condos set sales record for December
• Globe Newswire • Winnipeg Free Press
In total, 3,533 Montreal Census Metropolitan Area residential sales were concluded in December 2019, a 26 per cent year-over-year increase. Condos sales jumped 32 per cent YOY and the 1,301 transactions concluded represent a new sales record for a month of December.
CIBC boosts mortgage sales force
Canadian Imperial Bank of Commerce expects its growth in domestic mortgages to be more “market-like” in 2020, after last year’s contraction in home-loan balances, Chief Executive Officer Victor Dodig said.
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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