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Canada's CRE transactions fell to $50.8B in 2023: Here are the Top-15
Canada's CRE sales fell to $50.8B in 2023: Here are the Top-15
Overall investment in Canada dipped 35 per cent in 2023 versus 2022, according to Altus Group, the most significant percentage drop since the first year of the pandemic. Here are the top Canadian CRE transactions from the past year.
Beeches proposes new life sciences development in Toronto
A proposed mass timber-constructed office development in Toronto’s Leaside area has shifted focus; Beeches Development is now seeking to add much-needed biomedical laboratory space with its new building.
Avenue 31, Cogir in talks for LeBreton Flats housing
The National Capital Commission said Thursday it is in talks with Ottawa real estate firm Avenue 31 and Montreal-based developer Cogir Real Estate to build at least 900 housing units on a portion of LeBreton Flats.
Downtown Oakville transformation boosts traffic by 23%
The transformation of downtown Oakville has been attracting new retailers to the area and has limited availability. Since 2021, downtown Oakville has seen 60 new businesses enter and visitor traffic has increased by 23 per cent.
Groupe Touchette doubling Winnipeg footprint
Montreal-based Groupe Touchette, the largest tire distributor in the country, is about to double its footprint in Winnipeg, building a 112,000-square-foot distribution centre in the Brookside Industrial Park, just south of CentrePort Canada Way.
Hotel, parkade coming to Kelowna International Airport
The City of Kelowna has revealed new details about a hotel planned for the airport. Northland Properties Corporation's six-storey Sutton Place Hotel will include a parkade and will be built on the property adjacent to the terminal.
Northland Properties’ empire one of B.C.’s largest
As Ernst & Young guides the failed Garibaldi at Squamish ski resort developer through receivership, the Gaglardi family is owed nearly $20.2 million. For the Gaglardis, and their Northland Properties, estimated to be worth US$8 billion, that's chump change.
Net-zero self-storage building a first step for Nicola
Canada’s first net-zero-certified self-storage building is the first step toward a more sustainable self-storage portfolio for owner and operator Nicola Wealth Management, according to senior development manager Nathan Ma.
Edmonton kicks off Exhibition Lands redevelopment
A plan to redevelop one of Edmonton’s largest sites is in motion. The Edmonton Exhibition Lands will eventually become an urban community after the sale of one of the two parcels of land in the area was approved last week.
Downtown London's former Rexall building sells for $5.1M
London-headquartered developer Farhi Holdings Corp. sold the long-unoccupied former Rexall building at 166-170 Dundas St., in downtown London to 166 Dundas St. London Inc. in a $5.15-million transaction late last month, Ontario land registry documents show.
London ready to subsidize office conversions
London Mayor Josh Morgan will use his newly acquired strong-mayor powers to skip months of political wrangling and ask developers for proposals to turn vacant offices and downtown surface parking lots into apartments or other kinds of housing.
StatCan may overestimate vacant housing land: study
Statistics Canada’s vacant land surveys for Toronto and Ottawa’s census metropolitan areas (CMAs) overstate the land inventory compared to other surveys, research from Toronto Metropolitan University has found.
Former Ottawa Chapters could find new life as events venue
An organization in the “hospitality and entertainment industry” is eyeing a proposal to convert the former Chapters building on Rideau Street into an events venue, the National Capital Commission, the federal Crown corporation that owns the site, said Thursday.
Rate cuts are just one REIT factor: Laurentian Bank
VIDEO: Gaurav Mathur, director of REIT Research at Laurentian Bank Securities, joins BNN Bloomberg to discuss his REIT outlook for 2024.
‘Steel N Ink’ to Open at Montreal’s Royalmount
After recently opening at The Well, the upscale tattoo and body piercing studio Steel N Ink has secured a deal to open later this year at the huge new Royalmount project in Montreal.
Real estate podcasts
Michael Broccolini, Broccolini: Navigating success in CRE, CRE Podcast
Amy Price, BGO: Breaking down global real estate trends, CRE Podcast
Nurit Altman, RBC Capital Markets: Honesty fosters long-term success, CRE Podcast
SL Green to raise $1B NYC debt fund
SL Green, Manhattan’s largest office owner, will begin fundraising for a $1 billion opportunity debt fund this month, it announced in its fourth-quarter earnings report, released Wednesday. The office giant also reported a $155M net loss in Q4.
CRE prices more resilient in 2023
Commercial property sales volume sank like a stone in 2023, tallying just $374.1B, a 51% drop from the year before, according to MSCI Real Capital Analytics 2023 Capital Trends report. Prices have not tumbled quite as dramatically.
Major banks prepare for more CRE losses
Fresh off a stressful 2023, due in large part to turmoil in CRE, the nation’s biggest banks are bracing for more trouble, ratcheting up the amount of money they hold in reserve to protect against commercial loans going bad.
More remote workers facing threats, layoffs
Bank of America is the latest firm to tell its army of workers that if they don’t return to the office at least three times a week, they could face increasing consequences.
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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