Warehousing flourishes, office stable in Atlantic Canada

RENX  Commercial  •  Industrial, Office  •  Atlantic Canada

Atlantic Canada’s warehouse market remained robust, while the pandemic hasn’t impacted the office sector as much as some had feared, according to market surveys by Halifax real estate firm Turner Drake & Partners Ltd.

Biotech firm PNI to anchor PC Urban’s Evolution Block

RENX  Commercial  •  Industrial, Office, Technology  •  Metro Vancouver

PC Urban’s new Evolution Block stacked industrial development will become the global headquarters for a growing locally based biotech firm, Precision NanoSystems (PNI), the two companies announced this week.

Mattamy proposes 50-storey mixed-use tower

Residential, Commercial  •  Urban Toronto

Mattamy has proposed a 50-storey mixed-use condominium building at 10 St Mary St. in Toronto. The architects—Alliance-designed proposal calls for 465 residential units – 25 studios; 256 one-bedrooms; 134 two-bedrooms; 50 three-bedrooms. Retail space would occupy much of the ground and third levels.

Where has all of Alberta’s distribution space gone?

Bronwyn Scrivens: Associate Broker, Omada Commercial

Brigil proposes 30-storey Ottawa mixed-use building

Residential, Commercial  •  Ottawa Business Journal

Gatineau-based developer Brigil filed an application with the City of Ottawa for a 30-storey mixed-use building near the future Pinecrest LRT station. The proposal calls for 330 rental apartment suites – 194 one-bedrooms and 136 two-bedrooms – in addition to 4,700 square feet of commercial space.

Real Estate by the Numbers › The future of retail real estate . . . is exciting

Volodya Gusak: President, Denciti Development

Gatineau proptech firm 1VALET eyes public listing

Commercial  •  Ottawa Business Journal

After raising more than $16 million in venture capital, burgeoning Gatineau proptech firm 1VALET is mulling a public listing as it sets its sights on the massive U.S. market. 1VALET CEO Jean-Pierre Poulin is also the president of developer Devcore.

Feds invest in Inuit Nunangat infra, Saguenay Port

Commercial  •  Canada Newswire  •  Canada Newswire

The Government of Canada announced $517.8 million is available for shovel-ready infrastructure projects for Inuit communities through the Indigenous Community Infrastructure Fund (ICIF), a distinctions-based fund to support immediate demands, as prioritized by Indigenous partners.

Axia closes on three properties for $25.5M

Commercial  •  Business Wire  •  RENX

Axia Real Assets LP announced it has closed the acquisition of three single-tenant essential net lease properties for $25.5 million. Axia Real Assets is a joint venture partnership with CI Financial Corp. (CIX-T).

Parkit acquires T.O. industrial property for $3.6M

Commercial  •  Globe Newswire  •  RENX

Parkit Enterprise Inc. (PKT-X) has entered into an agreement with a private company to acquire a neighbouring industrial real estate asset at 720 Tapscott Rd., in Toronto for an aggregate purchase price of $3,600,000 giving Parkit a contiguous 14-acre parcel of land.

Real estate podcasts

Residential, Commercial  • 

Jim Costello, Real Capital Analytics, Global capital flows during COVID, CRE Podcast
Bill Ferguson, Ferguson Partners: The future of leadership, REALtalk: Episode 27
Jennifer Sicilia, RYCOM: Let’s talk about smart tech, Highview Partners People Who Perform

REIT second-quarter financial results

Residential, Commercial  • 

Boardwalk REIT, (BEI-UN-T), Canada Newswire
CAPREIT, (CAR-UN-T), Globe Newswire
Minto Apartment REIT, (MI-UN-T), Canada Newswire
H&R REIT, (HR-UN-T), Canada Newswire
NorthWest Healthcare Properties REIT, (NWH-UN-T), Canada Newswire

Brookfield eyes $25 billion from property sales

Commercial  •  Bloomberg  •  Globe and Mail (Sub. required)

Brookfield Asset Management Inc. (BAM-A-T) aims to reap $25 billion from commercial property sales, banking on a rebound for pandemic-hit assets like malls and office towers to power its next stage of growth.

Wendy’s to open 700 delivery-only kitchens by 2025

Commercial  •  Globe and Mail

Wendy’s Co. (WEN-Q) plans to open 700 delivery-only kitchens by 2025 to meet the growing demand. The kitchens will primarily operate in big cities in the U.S., Canada and the United Kingdom, where the chain has fewer brick-and-mortar stores.

Dalfen acquires two Pennsylvania industrial buildings

Commercial  •  PR Newswire

Dalfen Industrial announced the purchase of a two-building, 572,800-square-foot, class-A industrial portfolio in Lancaster and Elizabethtown, Pa. The Lancaster property (601 Stony Battery Rd.) is a new, 252,800-square-foot building. The Elizabethtown property (35 Conewago Rd.) was built in 2018 and encompasses 320,000 square feet.

Miami residents evacuate eight-storey condo building

Residential  •  Globe and Mail

Six weeks after 98 people died in the collapse of the Champlain Towers South condominium in nearby Surfside, residents of an eight-storey condo building in Miami were ordered to evacuate after the building was deemed unsafe by city officials on Monday

ECN Capital to sell renovation financing unit for $2B

Residential  •  Globe and Mail (Sub. required)  •  Bloomberg  •  Globe Newswire

Toronto-based consumer lender ECN Capital (ECN-T) is selling its home renovation financing unit to Truist Financial Corp. for US$2 billion. Service Finance operates solely in the U.S. and has underwritten more than US$7 billion in loans since its founding in 2004.

Elad begin sued over Cité-Nature condos

Residential  •  La Presse

A former client of the Harmonia Cité-Nature real estate project has filed a class action lawsuit against developer Elad to obtain compensation for “illegal and bad faith cancellation” of dozens of condominium apartment purchase contracts that were signed last year.

West Vancouver caps new houses at 6,600 square feet

Residential  •  Business In Vancouver

After a two-year public process, District West Vancouver council has taken steps to limit construction of “monster houses” in the municipality. Council voted July 27 to approve bylaws aimed at preserving neighbourhood character while allowing for “gentle densification” in the district.

Windsor house prices drop for third consecutive month

Residential  •  Windsor Star

The average monthly sales price of homes in Windsor and Essex County dipped for the third consecutive month in July, but prices remain about $116,000 higher year-over-year, said Windsor-Essex County Association of Realtors president Damon Winney.