CAPREIT buys 942 more suites in the Netherlands

RENX  Residential

Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) (CAR-UN-T) has expanded its multi-family portfolio in the Netherlands with a $239.83-million acquisition. The purchase is comprised of 18 high-quality residential rental properties totaling 942 suites in seven urban growth markets in the Netherlands.

A sea storm over rental housing: Goodman

Residential  •  Financial Post  •  RENX

Over the years, we’ve expounded persistently on the controversies surrounding Metro Vancouver’s rental housing. Not all the feedback has been pleasant. City of Vancouver staff have rebuked us for what they consider inappropriate comments and for encouraging market speculation.

Mississauga approves ex-industrial site redevelopment

Residential, Commercial  •  CTV  •  Canada Newswire

A major redevelopment of a 72-acre plot of land on Port Credit’s waterfront that has sat vacant for nearly 30 years is now one step closer to getting underway. Wednesday, Mississauga city council approved the development plan for the site.

The People Space › People Space: Domenico joins Colliers, new Canadian head at JLL

Don Wilcox: Managing Editor

Feds hold off on Portage Place sale approval

Commercial  •  Global News  •  Winnipeg Free Press  •  CTV

The federal government has asked for a 30-day delay on the sale of downtown Winnipeg’s Portage Place. Toronto-based Starlight Investments offered $22.9 million for the shopping centre, with an additional $47 million for its land and underground parkade.

Calgary firm to help chart LeBreton redevelopment

Residential, Commercial  •  Ottawa Citizen  •  Ottawa Business Journal

Calgary planning firm O2 Planning + Design will help develop a master concept plan for LeBreton Flats as the National Capital Commission comes up with a new scheme for the property. O2’s urban design principal, Chris Hardwicke, will lead the team.

Dream team plans roof for Montreal’s Big O

Commercial  •  Construction Canada

Collaborating to prepare a business case for a new roof for Montreal’s Olympic Stadium are Schlaich Bergermann Partner, a German engineering firm; German architectural firm GMP; Canadian engineers WSP; and the project owner, the Regie des Installations Olympiques (RIO).

Condo towers planned for Surrey

Residential  •  Western Investor

Since 2005, Tien Sher Group of Cos. and its president, Charan Sethi, have been sparking redevelopment in Surrey’s Whalley district with a series of mixed-use new home condominium developments in the blocks around King George Highway and 108th Street.

Granville Street nightclubs disappearing

Commercial  •  CBC

Once known as the heart of the entertainment district, the clubs on Granville Street in Vancouver are slowly disappearing as young people turn to other forms of nightlife. By 2020, there will only be seven licensed nightclubs and live music venues.

REOC second-quarter financial results

Commercial  • 

Brookfield Property Partners, (BPY-UN-T), Globe Newswire

Firm Capital Mortgage Investment Corp., (FC-T), Globe Newswire

Melcor Developments Ltd., (MRD-T), Globe Newswire

Four Canadian REITs with strong price momentum

Commercial  •  SmallCapPower  •  NyseNewsRoom

Brookfield Property Partners (BPY.UN-T) and subsidiary Brookfield Property REIT, Choice Properties REIT (CHP-UN-T), Summit Industrial Income REIT (SMU-UN-T) and Dream Global REIT (DRG-UN-T) have all exhibited strong three-year revenue CAGR as well as revenue growth estimates.

REIT second-quarter financial results

Commercial  • 

Artis REIT, (AX-UN-T), Canada Newswire

City Office REIT, (CIO-N), Business Wire

RioCan REIT, (REI-UN-T), Globe Newswire

Simon may come to retailers’ rescue

Commercial  •  CNBC  •  Associated Press

The biggest mall owner in the U.S., Simon Property Group (SPG-N), on Wednesday said it’s considering more opportunities where it would invest in a retailer to help keep it afloat. “I think it’s very possible,” Simon CEO David Simon said.

U.S. CRE experiencing a dangerous bubble

Commercial  •  Forbes

The soaring value of U.S. commercial real estate relative to rents has caused cap rates to plummet to record lows. Unusually low cap rates are a common sign the market is overheated and likely to experience a correction.

The future of Hong Kong’s CRE ‘dim’: JLL

Commercial  •  CNBC

The future for Hong Kong’s property market is bleak, according to Denis Ma, head of research at Jones Lang LaSalle. That “dim outlook” on the city’s property comes amid a possible U.S. recession and China-U.S. trade tensions.

Allianz, Gaw Capital buy Singapore complex for $1.2B

Residential, Commercial  •  South China Morning Post  •  IPE Real Assets

Hong Kong-based Gaw Capital Partners and Allianz Real Estate have bought part of an iconic mixed-use development in Singapore for US$1.17 billion in the city state’s largest private sector office sale in almost two years.

Invesque closes on Commonwealth acquisition

Residential, Commercial  •  Canada Newswire  •  RENX

Invesque (IVQ-U-T) announced the closing of the acquisition of Commonwealth Senior Living LLC and 17 private pay senior living communities comprising 1,205 units with 1,469 beds. The aggregate purchase price for the initial tranche was approximately US$285.4 million.

19-storey rental building proposed at 340 Mill Rd.

Residential  •  Urban Toronto

Mohican Holdings has proposed a 19-storey infill rental building at 340 Mill Rd., the Quadrangle-designed tower would join an existing 19-storey slab tower on site, replacing a surface parking lot.

GTA new condo sales near record in Q2

Residential  •  Bloomberg

Sales of new condos jumped to a near-record in the GTA in the second quarter amid lower borrowing costs, with most growth coming outside the city core. Sales surged 77 per cent to 8,902 units year-over-year, according to Urbanation.

Windsor pays Ontario’s highest property taxes

Residential  •  Global News  •  CBC

While the price of owning a home in Toronto can be staggering, the property taxes are the lowest in Ontario. According to Zoocasa figures, the property taxes in Windsor are nearly three times higher than in Toronto.