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Cadillac Fairview to sell 2 downtown Calgary office buildings
Cadillac Fairview to sell two downtown Calgary office bldgs.
Cadillac Fairview is divesting two downtown office properties in Calgary. CF has already listed Encor Place for $21.5 million through RBC Capital Markets and will also bring 635 8th Ave. S.W. to market, CEO Sal Iacono tells RENX.
Richardson & Sons reacquires Fairmont Winnipeg
James Richardson & Sons Limited has reacquired the 21-storey, 340-room Fairmont Winnipeg, located next to the family-owned corporation’s head office tower. The purchase price for the downtown hotel, which the company had sold in 2000, was not disclosed Thursday.
Vancouver leads the way in building boom for hotels
Canada is seeing a surge of hotel construction in major cities, with Vancouver leading the way in new building applications after the tough pandemic years, when hotels seemed like the iffiest of all real estate investments, according to Lodging Econometrics.
Greenbelt developer being sued over land sale
Michael Rice, CEO of the Rice Group of companies, is being sued by a company owned by businessman Allan Fenwick, with whom Rice partnered to purchase a 99-acre Greenbelt property in East Gwillimbury, Ont., in 2007.
Choice, Daniels to transform Scarborough’s Golden Mile
Choice Properties REIT and The Daniels Corporation are transforming Scarborough’s 67-year-old Golden Mile shopping centre into a mixed-use transit-oriented community. Phase 1 will include two condominium towers, a purpose-built market rental building, ground floor retail and office spaces.
'Race towards quality' among Montreal CRE tenants
The vacancy rate for office buildings remained unchanged at 19.4% during Q4 2023 in Greater Montreal. But empty areas of prestigious buildings in the city centre are starting to fill up, heralding a “race towards quality” for tenants.
3 large Ont. real estate owners under bankruptcy protection
Real estate owners Dylan Suitor, Ryan Molony and Aruba Butt, who own hundreds of rental properties across Ontario, owe over $144 million in unpaid loans and face dozens of lawsuits from creditors, according to documents.
KingSett’s journey to decarbonize an iconic Vancouver tower
A three-year decarbonization effort at Vancouver's Arthur Erickson Place, a 363,000-square-foot, 26-storey commercial building, is founded on the building owners' belief in the financial as well as environmental benefits of a sustainable retrofit.
Goldhar proposes redevelopment of historic Muskoka resort
Billionaire Mitch Goldhar has unveiled the Phase 1 proposal for a new resort village on the site of Muskoka, Ont.’s 140-year-old Clevelands House Resort. The Phase 1 plans include 48 cabins, retail, restaurant and office space.
Robotics opening opportunities in construction
Robotics isn’t just coming to construction, it’s already here. That was the message from industry experts at the Power of Robotics in Construction education session Jan. 24 at the World of Concrete conference in Las Vegas.
Controlling shareholder plans to take Indigo private
Trilogy Retail Holdings and Trilogy Investments announced Thursday they had made a non-binding privatization proposal to Indigo Books & Music Inc. (IDG-T) to acquire all the common shares they do not already own for $2.25 in cash per share.
Self-service grocer Aisle 24 continues expansion
Toronto-based Aisle 24, a fully automated, 24/7 cashier-less grocery chain, continues to expand its unique concept to different locations across the country as it seeks non-traditional spaces and the launch in the coming months of a new and bigger prototype.
Record number of new condos are going unsold in GTA
Faltering pre-construction condo sales and a record high inventory of unsold suites across the Greater Toronto Area could spell doom for Ontario's planned housing boom, according to Urbanation's 2023 fourth-quarter condo market survey released on Thursday.
A closer look at B.C.’s plan to change land-use decisions
ANALYSIS: Some 2,500 people or corporations apply every year for access to Crown land. All of them must take into consideration the interests of Indigenous groups laying claim to all of that land, a process that often lands in court.
ANALYSIS: B.C. failed to close housing tax loopholes
The transit-oriented development and small-scale multi-unit housing legislation — receiving royal assent in the waning days of last year’s sitting of the legislature — is leading to land speculation and development site flipping due to loopholes in B.C.’s property transfer tax.
Ashford considers selling 12 hotels to pay $2.6B debt
Dallas-based REIT Ashford Hospitality Trust's (AHT-N) strategy for taking care of the $2.6 billion of debt coming due at the beginning of 202 includes selling a dozen hotels, most in urban areas along the Eastern Seaboard.
BREIT fulfills 88% of $1.3B repurchase requests
Blackstone Real Estate Investment Trust, the U.S.' largest non-traded REIT, has fulfilled 88% of investor requests to cash out their shares. It said it essentially clears all requests, which have fallen nearly 80% since peaking in January 2023.
Boston Properties buys out three office partners
As other investors are trying to get out of the office market, Boston Properties is leaning further into the sector, buying out the interests of joint venture partners for office properties in New York City, D.C. and Santa Monica, Calif.
Manhattan office market demand surges 40%
National real estate technology platform VTS' latest quarterly Office Demand Index (VODI) found that demand for space in the Big Apple rose nearly 40% in 2023 over the previous year — lifting demand to 75% of pre-pandemic times.
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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