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Fiera, Berkshire Axis JV on 10th industrial project in GTA
Fiera, Berkshire Axis JV on 10th industrial project in GTA
Fiera Real Estate and Berkshire Axis Development have completed their 10th partnership deal with the acquisition of 19 acres of industrial development land in the Greater Toronto Area city of Brampton.
Retail rents posting gains in open-air venues: CBRE
Retail rents held steady in Canada’s dominant regional malls during the first half of 2023, with rent growth most often exhibited in open-air community shopping centres, select urban districts and within mixed-use developments, CBRE Canada’s newly released semi-annual survey reveals.
'A city within a city' proposed for Delta, B.C.
Value Property Group has proposed “a city within a city” with 100,000-plus square feet of office space, about 70,000 square feet of commercial and four residential towers of up to 32 storeys with 876 housing units in Delta, B.C.
Ont. greenbelt removals ‘favoured’ certain developers: AG
Ontario Auditor-General Bonnie Lysyk issued a scathing report on Queen's Park's removal of 7,413 acres from its Greenbelt, saying the changes resulted from a “biased” process driven by a staffer that “favoured certain developers” and lacked environmental or financial analysis.
Algonquin to sell renewables group, names new CEO
Algonquin Power and Utilities Corp. (AQN-T) announced it would seek a new buyer for its renewable energy group to focus on low-risk regulated investments, and reported the resignation of CEO Arun Banskota after significant deals fell through.
Hi-Rise Group proposes 25- and 37-storey mixed-use towers
The Hi-Rise Group has proposed 25- and 37-storey mixed-use towers at 8 Shoreview Pl. in Stoney Creek. The Graziani + Corazza Architects-designed towers would include 730 residential units, ground-level commercial units and 968 parking spaces.
CTN proposes dense community in Richmond Hill
CTN Developments has proposed a master-planned Richmond Hill development dubbed Richvale Village. The BNKC Architects-designed mixed-use development would include a blend of residential, commercial and public spaces with the project's buildings ranging from four to 38 storeys.
Brookfield Corp. beats profit expectations
Higher leasing and insurance income pushed Brookfield Corp.’s (BN-T) second-quarter profit well above analysts’ expectations on Thursday. Brookfield credited its US$272-billion portfolio of global real estate assets as a key driver of growth.
Manulife's office real estate pain lingers
Shares of Manulife Financial (MFC-T) rose on Thursday after a rebound in insurance sales and profitable investment returns in their wealth unit powered an earnings beat, but Canada's top insurer flagged risks from its office real estate exposures.
CPP assets grow to $575B in Q1
CPP Investments delivered a 0.8 per cent loss during Q1, which started April 1, driven by negative returns on both public and private investments. Despite the small loss, CPPIB’s total assets grew over the quarter to $575 billion.
TPG has $6B to spend on CRE 'dislocation'
Asset managers are licking their chops and looking to raise gobs of capital to try to buy CRE assets at what some call the bottom of the market, including TPG Real Estate Partners, which has $6 billion to spend.
Starwood to start pitching new distressed fund
Starwood Capital Group is in preliminary talks with potential investors for a new opportunistic real estate fund, sources say. The vehicle would follow Starwood Distressed Opportunity Fund XII, which closed in October 2021 with over $10 billion.
Two groups move toward CRE debt fund standard
The CRE Finance Council (CREFC) and the National Council of Real Estate Investment Fiduciaries (NCREIF) have taken a big step toward creating an index of private commercial mortgage debt that could be used as a benchmark by the industry.
China market again roiled by default fears
Two years after Evergrande’s debt troubles, worries about China’s real estate sector are again coming to the forefront. Country Garden, one of the largest non-state-owned developers, has reportedly missed two coupon payments on dollar bonds that were due Sunday.
Single-family home building permits fall 35% Y-O-Y
In June, the value of building permits for single-family homes fell 35 per cent year-over-year to $2.5 billion. Building permits for such homes were near the lowest levels reached in the early months of the pandemic.
Rent reaches record high of $2,078 in July
Data from Rentals.ca and research firm Urbanation says the average asking rent was a record $2,078 in July. That total is up 8.9 per cent year-over-year, making it the fastest pace of growth over the past three months.
Canadian mortgage rates pause climb for now
OPINION: Borrowing costs have ridden an uptrend since May, but none of Canada’s leading nationally-advertised mortgage rates went up this week. While central banks have made ample progress on inflation, it could get dicey in the weeks ahead.
B.C. homeowners reluctant to rent out space: Poll
More than a third of British Columbians have space in their home that could be rented out but isn’t, according to a recent Leger poll, which found fewer than one in 10 B.C. homeowners rent out part of their homes.
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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