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Concert expands GTA industrial assets, buys Oakville multi-tenant bldg.
Concert expands GTA ind. assets, buys Oakville building
Concert Income Properties has added to its Greater Toronto Area industrial holdings with the acquisition of a multi-tenant property at 2340 Winston Park Dr., along the Oakville-Mississauga municipal border, for $67.1 million.
Boardwalk buys Calgary apt. complex, issues $218M offering
Boardwalk REIT (BEI-UN-T) has an agreement to acquire the newly constructed, 295-suite The Circle apartment complex in Calgary, and will issue a $218-million unit offering to be used, in part, to fund the transaction.
Core plans to add 10,000 more houses to its portfolio
Core Development Group, which announced two years ago it intended to scoop up $1 billion in single-family homes in Canada to convert to rentals, has plans to add another 10,000 to the portfolio in the next five years.
Blackstone, CPP take $1.2B stake in Signature Bank deal
CPP Investments has joined with Blackstone Inc. and Rialto Capital to buy a stake in a pool of US$16.8 billion of CRE loans that were orphaned after the collapse of New York-based Signature Bank earlier this year.
Scotiabank's N.A. growth strategy includes CRE
While highlighting Scotiabank’s strength in Canadian mortgages and auto lending, CEO Scott Thomson sees an opportunity to grow in areas such as small business lending, commercial banking and wealth management through Scotia’s network of bank branches.
VW battery gigafactory in St. Thomas to break ground in 2024
Construction of PowerCo SE’s battery cell gigafactory in St. Thomas, Ont., will start in 2024, laying the groundwork for its first overseas electric vehicle battery plant and its largest to date. Up to 3,000 jobs are projected to be created.
IKO to build $45M Brantford manufacturing facility
IKO, a global industry leader in the roofing, waterproofing and insulation industry, announced plans to construct a $45-million manufacturing facility in Brantford. The plant will manufacture extruded polystyrene (XPS) insulation and will employ about 30.
B.C. approves $638M health research centre
The B.C. government says it is going ahead with construction of a $638-million "state-of-the-art'' research centre at the new St. Paul's Hospital in Vancouver. The research centre will span roughly 366,000 square feet.
Historic Windsor building to become boutique hotel
Chatham-based developer RJM Holdings plans to turn downtown Windsor's 93-year-old Paul Martin building into a luxury boutique hotel with up to 100 suites. The property will contain an in-house restaurant, café, multiple meeting and event spaces, and retail areas.
Bridgemarq acquires 29 Brookfield brokerage assets
Bridgemarq Real Estate Services Inc. (BRE-T) has entered into a definitive agreement with an affiliate of Brookfield Business Partners to acquire 25 Royal LePage and Johnston & Daniel brokerages, three Via Capitale brokerages and virtual brokerage Proprio Direct Inc.
Bill to lift GST from rental dev. to become law
Legislation that lifts GST charges off rental developments and amends the country's competition law has passed in the Senate and is poised to become law. The federal government is lifting the GST to incentivize developers to build more purpose-built rentals.
Ontario sees record increase in property value
Ontario's property inventory grew by more than $42 billion through new construction and property improvements in 2023. Residential homes, including condominiums, accounted for more than $31 billion of this increase while CRE contributed more than $6 billion.
Waterloo residents to see 6.9% tax increase in 2024
The Region of Waterloo approved its 2024 budget at Wednesday night’s council meeting. Residents will see a 6.9 per cent tax increase in 2024. That means the average household will pay $165 more next year.
City Wide opens new office in Mississauga
City Wide Facility Solutions, a management company in the building maintenance industry, has opened a new office in Mississauga, its third location in Ontario, bringing its total Canadian footprint to four franchise locations.
rennie opens new office in Victoria
rennie, a Vancouver-based real estate services company, announced its official expansion into Vancouver Island with a new office in downtown Victoria — which includes its brokerage, intelligence and developer service offerings.
BGO, Saxum recapitalize U.S. cold storage portfolio
BGO and Saxum Real Estate announced the completed recapitalization of a six-property, 1.5-million-square-foot, class-A cold-storage portfolio through three separate transactions. The assets are in Phoenix, Atlanta, Reno, Dallas-Fort Worth and Hazleton, Pa.
Office occupancy hits new pandemic-era high
U.S. office usage hit an average 51.6% during the week of Dec. 6 in the 10 metro areas tracked by Kastle Systems' Back to Work Barometer, the highest level since the beginning of the pandemic.
WeWork office bookings jump in London
While there is still plenty to do, WeWork's chief revenue officer insists the business has lots that is working well for it, including in London where a bumper period for bookings has just taken place.
Morgan Stanley bullish on CRE in 2024
VIDEO: Lauren Hochfelder, Morgan Stanley Real Estate Investing Co-CEO, explains why she's so bullish on the commercial real estate sector heading into 2024. She says demand is growing for warehouses, senior housing and medical offices.
Industry Events
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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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