RioCan adds land to Glenmore Landing, plans to densify site

RioCan REIT (REI-UN-T) is acquiring 5.6 acres of land adjacent to its existing Glenmore Landing property from the City of Calgary to enable it to pursue another of its densification projects.

All-industrial redevelopment of Buttonville airport proposed

Buttonville Municipal Airport in Markham, Ont., will close at the end of November and a recent proposal from owner Cadillac Fairview plans to replace it with a 2.78-million-square-foot industrial development.

Panattoni sells Hamilton Industrial property for $21M

Toronto-based Panattoni Development Company has sold property near Hamilton airport for nearly $21 million, or $326 per square feet, located in a newly developed industrial park. The buyer of 10 Aeropark Blvd. was not disclosed.

Calgary industrial construction reaches fever pace

Record industrial construction topped five million square feet in Q2 in Calgary, well above the 4.4 million square feet seen in 2021. A further 4.9 million square feet is in the planning stages.

Queen's Park eyes school land for potential housing

Ontario Premier Doug Ford’s government is targeting school lands in his next bid to boost the province’s housing stock under wide-ranging legislation that puts his administration in charge of deciding which properties can be sold and developed.

Multires offers potential for growth in EV chargers

An order for 58 electric vehicle chargers at a Cambridge, Ont., condominium development is part of a trend to scale-up access to chargers at multiresidential and other privately owned buildings, according to a Hypercharge Networks Corp., (HC-NE) executive.

MTY CEO talks inflation, acquisitions and real estate

MTY Food Group (MTY-T) has expanded from its roots as a Canadian food-court operator to a global franchiser with a diversified portfolio of fast-food and casual-dining restaurants. MTY has more than 7,100 locations with approximately 90 brands.

Long before RioCan, Sonshine worked at a lumberyard

Before Ed Sonshine founded RioCan (REI-UN-T), now the second-largest REIT in Canada, he was a criminal lawyer. And before that, he was a teenager itching to use his brand new driver’s licence for a semi-terrifying gig at an Ontario lumberyard.

Real estate podcasts

Bill Bolender, Prologis: Canadian industrial in a global portfolio, CRE Podcast

Dave Nerada, Ricki’s: The brand’s transformation, The Interview Series 

Phil Kanfer, Market Lane Advisors: Helping CRE choose right proptech, Tenant Experience Network

Yields are on sale in the REIT sector

There are great investment deals everywhere you look. In the REIT sector, RioCan (REI-UN-T) and Choice Properties (CHP-UN-T) both yields a healthy 5.4 per cent, while Primaris (PMZ-UN-T) is at 6.2 per cent and Slate Grocery (SGR-UN-T) is offering 8.5 per cent.

REIT second-quarter financial results

City Office REIT, (CIO-N), PR Newswire

Dream Office REIT, (D-UN-T), Business Wire

Plaza Retail REIT, (PLZ-UN-T), Canada Newswire

Primaris REIT, (PMZ-UN-T), Business Wire

Slate Grocery REIT, (SGR-UN-T), Business Wire

True North Commercial REIT, (TNT-UN-T), Canada Newswire

REOC second-quarter financial results

Brookfield Business Partners, (BBU-UN-T), Globe Newswire

Brookfield Renewable Partners, (BEP-UN-T), Globe Newswire

Dream Impact Trust, (MPCT-UN-T), Business Wire

Morguard Corp., (MRC-T), Canada Newswire

Parkit Enterprise Inc., (PKT-X), Newsfile 

Parkland Corp., (PKI-T), Canada Newswire

Brookfield's Kingston bullish on San Francisco, L.A.

VIDEO: Brian Kingston, CEO of Brookfield's Real Estate business, says he remains bullish on the prospects for San Francisco due to its status as a major tech hub. "It always comes back," he says on Bloomberg Markets.

Amazon signs deals at Manhattan WeWork locations

E-commerce giant Amazon has agreed to take a total of about 300,000 square feet in office space, including both new and renewal leases, at two WeWork locations in midtown Manhattan, including one at Rockefeller Center.

Canada shares in real estate’s global value dip

The global value of professionally managed real estate fell by 4.1 per cent last year relative to 2021, representing a US$600 billion year-over-year drop. Canada’s weight in those holdings likewise fell, slipping to ninth among 37 countries tracked.

Foreign buyers are bailing on the U.S. housing market

International buyers are pulling back from the U.S. housing market as high mortgage rates, soaring home prices, a meagre supply of homes for sale and a strong dollar all make the purchases much less financially attractive.

Nearly 10% of homes listed in Halifax are priced over $1M

Single-family homes listed for sale at over $1 million comprised 9.4 per cent of all homes listed in the Halifax Regional Municipality up to the end of June this year, a new report from Engel & Völkers says.

Montreal home sales on pace with last July: QPAREB

The Quebec Professional Association of Real Estate Brokers (QPAREB) says July’s Montreal home sales were little changed from a year ago but remained above the historical average for this time of year.

Quebec, Airbnb deadlocked on illegal rentals

The Quebec government and Airbnb (ABNB-Q) are at odds over how to identify illegal short-term rental listings that persist on the platform as the deadline approaches for the company to ensure compliance with provincial law.

Victoria home sales down 15% month-over-month

Greater Victoria real estate activity slowed significantly in July, with 595 properties changing hands. That’s a 15 per cent drop from June, though still an improvement over the 510 transactions in July 2022, according to the Victoria Real Estate Board.