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BentallGreenOak, Highgate invest $63.75M in AHIP
BentallGreenOak, Highgate invest $63.75M in AHIP
BentallGreenOak and Highgate Capital Investments have made a $63.75-million investment in Vancouver-based American Hotel Income Properties (AHIP) (HOT-UN-T), which owns and operates 78 hotels in the United States.
Drone deliveries: Coming soon to a property near you?
A growing number of real estate developers are examining the feasibility of establishing drone delivery spots in their suburban condo, commercial and industrial projects, says Michael Zahra, president and CEO of Drone Delivery Canada.
Crestpoint closes on apartments, buys Wpg. industrial
• Canada Newswire • RENX
Crestpoint Real Estate Investments Ltd. has acquired a 248,000-square-foot FedEx Distribution Centre on 38.1 acres in Boniface Industrial Park in Winnipeg. Crestpoint also closed on the acquisition of a 15-property apartment portfolio in partnership with InterRent.
Nicola, Blackwood buy GTA industrial development land
The acquisition of Blackwood Partners by Vancouver’s Nicola Wealth Real Estate is already paying dividends, with the partners acquiring a 105-acre industrial development site in King Township just north of Toronto.
WeWork in talks to go public through SPAC deal
WeWork is in talks to go public through a merger with a special purpose acquisition company (SPAC) and is also exploring raising funds from private investors, a little over a year after its botched IPO, according to a source.
Downtown Mtl. vacancy rate soars to 10.2%
The vacancy rate for downtown Montreal apartments has skyrocketed. The vacancy rate jumped year-over-year from 2.6 per cent in October 2019 to 10.2 per cent. CMHC’s Francis Cortellino says those represent the highest vacancy rates since the early-1990s.
T.O. accounts for 1/3 of $150M in rental arrears
Nearly 11 per cent of Toronto-area rental households — 34,857 — were in arrears last fall. The $55 million in unpaid rent in the GTA represents more than a third of the country’s $150 million in outstanding payments, according to the Canada Mortgage and Housing Corp.
Higher software prices to hit homebuyers: Lawyers
• Globe and Mail (Sub. required)
Stock market darling Dye & Durham Ltd. (DND-T) is facing an outcry from Ontario lawyers after hiking prices charged to them by the Toronto technology company’s most recent acquisition, DoProcess, from $25 to $129 per deal.
Balance of power passes to retailers amid COVID-19
For a long time, the law of supply and demand allowed shopping centres to impose their demands on retailers. The pandemic has upset the balance of power and retailers no longer rush into the once very popular “mega-centres.”
The Well saw more than 15 COVID-19 cases
• Toronto Star • RENX
More than 15 workers on Ontario’s largest construction site tested positive for COVID-19 after the holidays. The companies in charge of downtown Toronto’s The Well say widespread testing of workers has since resulted in no new positive cases.
Canada Infrastructure Bank out of excuses
• Financial Post • Business In Vancouver
OPINION: Catherine McKenna’s reboot of the Canada Infrastructure Bank (CIB) is almost complete and she has recruited Vancouver Airport Authority CEO Tamara Vrooman to replace Michael Sabia, who was named deputy minister of finance in December.
Top 10 largest construction project starts in Canada
The accompanying table records the 10 largest construction project starts in Canada in December. Also included is the latest trend graph on starts. This looks at 12-month moving totals of the civil and non-residential building categories in Canada.
Gateway Casinos solicited investments from gamblers
• Business In Vancouver • Globe and Mail (Sub. required)
Gateway Casinos solicited VIP gamblers for investments in a hotel and spa expansion at its New Westminster Starlight Casino — and a high-profile, convicted criminal and banned gambler accused of loan sharking took interest.
Brookfield looks to raise $670M in third Indian REIT
• livemint • CP Executive
Brookfield India Real Estate Trust, backed by Canadian asset manager Brookfield Asset Management Inc., will raise $670 million CAD through an initial public offering (IPO). The issue will open on Feb. 3 and close on Feb. 5, Brookfield said Thursday.
RESAAS values global CRE industry at $16T
RESAAS Services Inc. (RSS-X), a real estate technology platform, announced the launch of its dedicated Platform for the Global Commercial Real Estate industry, which it values at $16 trillion US.
Value of Trump’s NYC buildings down 20%
After a tumultuous one-term presidency, a violent insurrection by supporters and a retirement to Florida, Donald Trump’s real-estate holdings are feeling the heat: According to Curbed, Trump-branded Manhattan properties have lost more than 20% of their value since he took office.
Work moving forward for Daniels’ Artworks Tower
After a pause, work is moving forward again on a 11- and 33-storey condo complex reshaping Toronto’s Regent Park community. The Daniels Corporation’s Artworks Tower and Artsy Boutique Condos project suffered a crane collapse on Aug. 6.
Bosa, Kingswood propose tree-like Vancouver condos
Two residential towers of 30 and 34 storeys proposed by Bosa and Kingswood Properties are designed to mimic large undulating cedars to lend a Vancouver character and identity to the project, according to the design architects, Heatherwick studio from the U.K.
Ottawa’s rental vacancy rate jumps to 3.9%: CMHC
• Ottawa Citizen • Ottawa Business Journal
Ottawa’s rental vacancy rate more than doubled in 2020 – from 1.8 per cent in 2019 to 3.9 per cent – as thousands of new apartments were put on the market at the same time as the city’s population of students and recent immigrants plummeted.
Vancouver renters eye incentives as vacancies rise
Maytal Kowalski has been scouting apartment listings in Vancouver for weeks and she’s preparing to do something she’s never been able to do in her almost two decades as a renter: bargain with the future landlord.
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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