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Downtown Toronto office leasing nosedives in Q2: Newmark
Downtown Toronto office leasing nosedives in Q2: Newmark
While there was major office leasing activity in downtown Toronto in Q1 of this year, that momentum evaporated during the next three months according to Newmark’s new 2Q '24 Downtown Toronto Office Market Overview.
Quadreal acquires 1,400 apartments in 4 major U.S. cities
Vancouver-based pension plan investor Quadreal has acquired four class-A multifamily residential properties, adding approximately 1,400 apartments to its portfolio in Denver, Charlotte, Phoenix and Washington, DC.
Economy beats Bank of Canada forecast with 2.1% growth
The Canadian economy grew by 2.1 per cent during the second quarter, beating the Bank of Canada and market expectations. The central bank, which makes an interest rate decision on Wednesday, had forecast 1.5 per cent growth.
Couche-Tard seeks pension fund backing for Seven & i bid
Alimentation Couche-Tard is seeking backing from Canada’s largest pension funds to support its proposed acquisition of 7-Eleven owner Seven & i Holdings. The retailer is reaching out to funds including CDPQ, CPPIB and Ontario Teachers’ Pension Plan to gauge interest.
30-storey Hamilton tower placed under receivership again
Another high-rise tower has been placed under receivership, according to court filings in Ontario Superior Court. The property is 98 James Street South in Hamilton, where a 30-storey tower named The Connolly has been in the works.
B.C. multifamily investment activity jumps 59%
Multifamily transaction data for the first half of the year points to a strong recovery for deal volume, with 59 transactions in B.C. in the first six months, driven by government-funded transactions by not-for-profits.
Office building near Calgary airport for sale
A more-than-half-empty office building outside Calgary International Airport is for sale following financial troubles at the company that had been subleasing office space. The Airport Corporate Centre, a class-A building, is selling below replacement cost.
Edmonton's Guardian office building listed for sale
After being placed under receivership in early June, the Guardian Building in Edmonton is now looking for a new owner, according to the court-appointed receiver and a listing. The building offers 82,000 sq. ft. and currently houses 13 tenants.
Meeting to be held on Dixie Mall redevelopment plans
A community meeting for Mississauga’s Dixie Outlet Mall policy review will be held Sept. 17. Slate Asset Management has proposed a mixed-use community on the property, however, city decisions on policy will impact how it can be developed.
New shopping complex underway in Prince George
A new shopping complex and residential project from Brink Properties is underway in Prince George, B.C. The Cedar Centre will include a supermarket, ground-floor retail space and two 36-unit three-storey apartment buildings.
Cannabis retailer Tokyo Smoke to close 29 stores
Cannabis retailer Tokyo Smoke says it will shutter 29 stores as it seeks creditor protection. The closures are part of a restructuring the brand is carrying out under the Companies’ Creditors Arrangement Act.
New Metro store opens in Ottawa’s ByWard Market
Metro opened the doors to its newest location on Aug. 29. Officially named Metro Rideau, the 32,000-sq.-ft. space in Ottawa’s ByWard Market is the grocer’s 132nd store in Ontario and creates 125 jobs.
Calgary's Centron still dreaming big after 40 years
Bob Harris started Centron Real Estate Development and Construction 40 years ago and today the firm is a leading developer and builder in Western Canada with a number of large projects in the pipeline, including a 600-acre development near Chestermere.
High demand for Winnipeg housing accelerator funds
The City of Winnipeg has received 66 applications for the Capital Grant Program under the Housing Accelerator Fund, totalling over $160 million in requests. The program will distribute $25 million to selected projects, focusing on affordable housing and downtown initiatives.
Under-assessed CRE properties cost millions in tax revenue
B.C. could be losing millions in property tax revenue due to under-assessed commercial properties, according to a retired BC Assessment appraiser. There are several commercial properties across the province assessed at millions of dollars less than their sale price.
YouTube's MrBeast sets up Toronto production in Downsview
Behind a sprawling red wall of shipping containers, a new development seems to be taking shape at the former Downsview Airport site in North York, featuring a tower and a collection of bungalows.
Brookfield courts sovereign funds to join Grifols takeover bid
Brookfield Asset Management is in talks with several investment funds to join its bid to acquire Spanish blood-plasma company Grifols. Abu Dhabi sovereign wealth fund ADQ and Singaporean counterpart GIC Pte. are among the investors Brookfield has approached.
Boston life sciences developers at risk as buildings sit empty
The once-booming life sciences leasing market in Greater Boston slowed dramatically just as dozens of speculative projects were under construction, leaving a huge amount of vacancy that could put developers at risk of losing their buildings.
Office to housing conversion at former NYSE home on verge of default
The former home of the New York Stock Exchange, which became home to more than 500 housing units for New Yorkers, is facing default. The Financial District office tower at 20 Broad St. was converted into housing by Metro Loft Management.
China considers allowing refinancing on $5.4 trillion in mortgages
China is considering allowing homeowners to refinance as much as $5.4 trillion of mortgages to lower borrowing costs for millions of families and boost consumption. Under the plan, homeowners could renegotiate terms with their current lenders before January.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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