CDPQ, Fengate invest in eStruxture Data Centers

RENX  Commercial  •  Industrial, Technology  •  Metro Vancouver, Calgary, Greater Montreal

With new equity financing and expanded credit, eStruxture Data Centers has purchased a Calgary facility and is improving its existing centres. “We believe that we have a lot of scale within our team to do more . . .” CEO Todd Coleman said.

Port of Montreal expansion edges forward

Commercial  •  Montreal Gazette

The Port of Montreal’s long-discussed expansion on the South Shore is one step closer to becoming a reality. The Canada Infrastructure Bank will work with the Montreal Port Authority on the financial structuring of a proposed container terminal.

Winnipeg’s Norwood Hotel getting a makeover

Commercial  •  Winnipeg Free Press

A section of the Marion Street strip in St. Boniface is getting a new lease on life. Winnipeg’s Sparrow Hotels is transforming a big chunk of the landmark Norwood Hotel with a new restaurant, tavern and gaming lounge.

Brookfield No. 2 among top infrastructure managers

Commercial  •  IPE Real Assets

Despite concerns around pricing and markets being “late in the cycle,”  fundraising for private infrastructure funds is booming. Macquarie, the largest investment manager in our ranking, raised $18.3 billion Cdn in 2018. Brookfield Asset Management (BAM-A-T) has raised close to $26.6 billion.

Edmonton firm still seeks $13M road reimbursement

Residential  •  Edmonton Journal

More than two years after talks with the city to cover costs for a main street in the long-delayed Strathearn Heights redevelopment, the company behind the plan – Nearctic Group – is renewing calls for $13 million in reimbursement.

Hotel Macdonald lounge renovations on hold

Commercial  •  CBC  •  CTV

A controversial makeover at the Fairmont Hotel Macdonald‘s Confederation Lounge has been put on hold for another year. The renovations at the lounge won’t begin until March 2020 as drawings are still being finalized for the room’s design.

The Saskatchewan Edge › Saskatoon’s Midtown Common erases all signs of former Sears

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

NYC developer has lofty goals for Ski Cape Smokey

Commercial  •  CBC  •  Toronto Star  •  Cape Breton Post

A New York-based developer plans to breathe new life into a Cape Breton ski hill and turn it into a year-round destination. Part of the plan for Ski Cape Smokey in Ingonish includes the construction of a treetop walkway.

Mixed-use buildings for Winnipeg’s Confusion Corner

Residential, Commercial  •  Western Investor

Tkachuk Realty Group has already brought a six-storey multi-purpose building to Winnipeg’s aptly named Confusion Corner and another building is under construction. The buildings will be located at the confusing confluence of four downtown Winnipeg thoroughfares.

ViveRE to acquire N.B. multi-residential properties for $5.4M

Residential  •  Canada Newswire

ViveRE Communities Inc. (VCOM-X) has entered into an agreement with Ryan Oak Estates to acquire all of the real property located at 542 and 550 Ryan St., Moncton. The multi-unit residential properties – which ViveRE acquired for $5,488,000 – total 46 units.

BTB sells Quebec retail property for $4.4M

Commercial  •  Canada Newswire  •  RENX

BTB Real Estate Investment Trust (BTB-UN-T) announces the sale of a retail property located at 3885 Harvey Boulevard in Jonquière, Qué., for total proceeds of $4.4 million. BTB purchased that property in March 2008.

Walmart raises full-year profit forecast

Commercial  •  Reuters

U.S. retailer Walmart Inc. (WMT-N) reported an estimate-beating jump in second-quarter U.S. comparable sales on Thursday as shoppers spent more at its stores and websites, sending its shares up five per cent in pre-market trading.

Intact to acquire The Guarantee and Frank Cowan

Commercial  •  Canada Newswire  •  Globe and Mail (Sub. required)

Intact Financial Corporation (IFC-T), which refers to itself as Canada’s largest provider of property and casualty insurance, has entered into a definitive agreement to acquire The Guarantee Company of North America and Frank Cowan Company for approximately $1 billion.

Brookfield redeveloping iconic Chicago building

Commercial  •  CP Executive

Less than two months after breaking ground on a $1-billion mixed-use project in San Francisco’s SoMa district, Brookfield Property Partners L.P. (BPY.UN-T) is set to renovate and lease the last six floors of Chicago’s former Marshall Field and Company Building.

All U.S. stocks are tumbling — except real estate

Commercial  •  The Real Deal

While the U.S. markets are in fear of a recession, investors seem to know one place they want to park their money: real estate stocks. Of 28 real estate stocks tracked  — including REITs and mortgage companies — 15 saw an uptick.

Anbang’s $3B Japanese apartments portfolio for sale

Residential  •  IPE Real Assets

The single-largest property portfolio yet to transact in Japan, representing mult-ifamily assets valued at around US$3 billion, has come to market. The portfolio belongs to Chinese insurer, Anbang Insurance, which bought the assets from Blackstone in January 2017 for US$2.3 billion.

Condo sales downturn hits Van. developers

Residential  •  BC Business  •  Business In Vancouver  •  Business in Vancouver

As the Vancouver housing market grinds to a halt, property developers are pulling back. Under the B.C. Real Estate Development and Marketing Act, builders must sell about 60 percent of a project within nine months to obtain construction financing.

Construction company pulls out of Alfa condo project

Residential  •  Business In Vancouver

Problems keep piling up for a building under construction in Richmond city centre. Last week, Scott Construction, the company building the Alfa condo development, terminated its contract with developer Anderson Square Holdings and told their subcontractors to stop work.

Nearly 10% of Waterloo homes flipped or rented out

Residential  •  CBC

Nine per cent of homes sold in Waterloo region’s cities are either sold off quickly or purchased and leased out, a new Canada Mortgage and Housing Corporation (CMHC) report says.