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Timbercreek Alternatives sees opportunity in CRE 'trough'
Timbercreek Alternatives sees opportunity in CRE 'trough'
Timbercreek Alternatives has hit the ground running, naming Fraser McEwen as its president and entering a joint venture to renovate a downtown Calgary office building into residential rental apartments.
Site approval for 40-Storey purpose-built rental near Danforth
A new 40-storey development proposed in early-March is moving forward with a Site Plan Approval for its East York development set to bring 546 new residential units. The proposed project is ‘Phase 2’ of a development block.
$154M student residence building for B.C.'s Camosun College
Students at Camosun College will be able to live on campus by fall of 2027, when a new student residence is expected to be completed. The $154.7-million project will provide 423 beds for students in a six-storey building.
Canadian Q1 hotel investment activity approaches $750M
Canadian hotel investment activity totalled roughly $750 million in the first quarter of 2024, up more than twice from the same period last year, according to the Q1 2024 INNvestment Canada Hotel Report by Colliers International Hotels.
Buyers shun new condos in TO as sales hit 27-year low
New condo sales in the Toronto region have plunged to their lowest level in nearly three decades, with prospective buyers refusing to pay the expensive asking prices or struggling to qualify for a mortgage because borrowing costs remain relatively high.
Kelowna council concerned over proposed 40-storey tower
A 40-storey building could be towering over Harvey Avenue as part of a proposed development next to Parkinson Recreation Centre. The project is included in the draft Burtch/Harvey Ave. Redevelopment Plan was presented to council on July 8.
Govs. hanging on to land only hinders much-needed housing
A significant contributor to the cost of new housing is the price tag for the land. Simply put, it’s expensive. To build an apartment development, for example, land value can account for up to 25 per cent of the cost.
Cost factors working against purpose-built rental apt. projects
OPINION - Toronto saw an enormous proliferation of apartment development in the 1950s and 1960s. However, since then, we have developed very little purpose-built rental housing, with condo construction representing the bulk of new multiunit product.
B.C. announces $7M funding for Okanagan mass timber mill
A mass timber manufacturer in the South Okanagan received millions of dollars aimed expanding the facility. Mercer Mass Timber, which purchased Penticton-based mass timber manufacturer Structurlam last year, will receive $7 million through B.C.’s Manufacturing Jobs Fund.
Campbell’s Soup factory reno a missed opportunity?
A historic Etobicoke factory has been restored to its original Art Deco glory, but locals are disappointed the redevelopment didn’t include a residential component, at a time when affordable housing is one of the city’s biggest challenges.
TikTok to open an office in downtown Vancouver
TikTok is set on expanding its footprint in Canada with a new office in downtown Vancouver. In the second quarter of 2024, the company leased the 22nd level of the 32-storey Three Bentall Centre office tower.
Toronto-based FIKA could buy 41 Delta-9 cannabis stores
Delta 9 Cannabis is seeking court approval for a proposal that Toronto-based FIKA Company acquire all 41 of its retail locations in Manitoba, Saskatchewan and Alberta, and its distribution channels, in exchange for paying off roughly its $40M debt.
SmartCentres REIT offering $350M refinancing loans
SmartCentres Real Estate Investment Trust (SRU.UN-T) has priced an offering of $350 million aggregate principal amount of 5.162 per cent Series AA senior unsecured debentures on an agency basis. The Series AA debentures will mature on August 1, 2030.
CIBC says Bank of Canada must fix quantitative tightening
The Bank of Canada needs to wrap up its quantitative tightening program or fix distortions in short-term funding markets that are keeping effective interest rates higher, according to Canadian Imperial Bank of Commerce strategists.
Stelco to be sold to U.S. rival Cleveland-Cliffs in $3.8B deal
Hamilton’s storied steel manufacturer Stelco is being purchased in a $3.8-billion deal by one of the largest steel producers in the U.S. Buyer Cleveland-Cliffs Inc. has promised to maintain Stelco’s name, Hamilton headquarters and Canadian workforce.
AB to relax rules on buying abandoned oil and gas wells
The Alberta government plans to relax a rule that requires energy companies seeking to buy viable wells from bankruptcy proceedings to first pay all the failed producer's outstanding taxes.
Canada selling Manhattan apt. to pay for new $9M condo
Canada is selling one of its apartments in New York City to cover the cost of a brand-new luxury condo it recently purchased for $9 million. The Canadian government owns two apartments at the Park Avenue building in Manhattan.
Prologis to ramp up acquisitions, says market has 'opened up'
The world's largest industrial landlord has significantly increased the amount it plans to spend on acquisitions this year, signaling that the transaction market is beginning to heat up. Prologis plans to spend up to $1.5 billion to acquire properties.
New construction of U.S. office space expected to run dry
Brand-new buildings are among the few bastions of resilience in a struggling national office market. But the pipeline for that space — seemingly the only kind tenants are after — is drying up, as new construction will drop to unprecedented lows.
Why UK is finally changing its ancient ‘leasehold’ laws
If you buy an apartment in England, the chances are you aren’t actually “buying” it. Often, you’re paying the owner for the right to live there. “Leaseholds” are one of the oddest, most contested, quirks of Britain’s ancient property laws.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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