Digital tenant experience app HqO expanding in Canada

RENX  Commercial  •  Office, Technology  •  National, International

American real estate technology firm HqO has signed its fifth Canadian customer and will open a Toronto office when the border fully reopens between the two countries. “We enhance physical spaces with digital experiences.”

Cressey’s Coquitlam office-strata tower 40% sold

Commercial  •  Western Investor  •  RENX

In the first week of marketing, Cressey Development Group sold more than 40 per cent of space offered in 14-storey Diagram, the first new office tower in Coquitlam in seven years and the first-ever commercial strata tower in the Tri-City region.

Bertone proposes 26-storey mixed-use in East Ottawa

Residential, Commercial  •  Ottawa Business Journal

Montreal’s Bertone Development Corp. is moving into the Ontario market with a proposal for a 26-storey tower with 243 rental apartment units and about 8,300 square feet of ground-floor retail space at the corner of Montreal and Blair Roads in East Ottawa.

Parliament’s Centre Block restoration to cost up to $5B

Commercial  •  Globe and Mail  •  CTV  •  Ottawa Citizen

The massive restoration project underway at Parliament’s Centre Block will cost up to $5 billion and continue at least until 2030, Public Services and Procurement Canada said Thursday. The iconic sandstone edifice has seen no major upgrades since its completion in 1927.

Fronsac rebrands, becomes Canadian Net REIT

RENX  Commercial  •  Retail  •  National

Goodbye Fronsac REIT, hello Canadian Net REIT. The Montreal-based trust rebranded, effective Thursday, to better reflect its current investment activities across Canada.

Three-building La Tour Fides project underway in Mtl.

Residential  •  Canada Newswire

MTL Développement held its official groundbreaking ceremony Thursday for La Tour Fides at 235 Boul. René-Lévesque East. The $100 million-plus project will consist of a 19-storey main tower, in addition to a seven- and three-storey buildings. There will be around 290 housing units.

The Property Law Hub › Development projects and commitment letters: Be wary of what you bargain for

Daniel Waldman: Lawyer, Pallett Valo LLP

Low St. Lawrence water levels hit shipping rates

Commercial  •  Globe and Mail (Sub. required)

Falling water levels on the St. Lawrence River has prompted marine shipping companies to impose special fees on cargo, adding to the pain of Canadian companies already being hit by record transportation costs amid supply chain chaos.

Ontario sets 2022 rent increase guideline at 1.2%

Residential  •  REMI Network

Ontario’s rent increase guideline for 2022 is set at 1.2 per cent on the heels of the 2021 rent freeze. This number represents the maximum most landlords can raise their tenants’ rent in 2022, without the approval of the Landlord and Tenant Board (LTB).

Vancouver rents rise, remain highest in Canada

Residential  •  Western Investor  •  Daily Hive

Metro Vancouver remains the highest-rent region in Canada after average rents for a one-bedroom apartment rose 2.4 per cent month-over-month in May and two-bedroom rents shot up a nation-leading 7.7 per cent to $2,760 per month, says Bullpen Research and Consulting and Rental.ca.

Removal of capital-gains exemption, B.C. grant rejected

Residential  •  Globe and Mail

A report’s recommendations to get rid of B.C.’s homeowner grant, as well as a proposal to examine whether to end the countrywide capital-gains exemption on principal residences were quickly rejected by the B.C. and federal governments, respectively, on Thursday.

Teranet, Stratus launch multi-list platform to TRREB

Residential  •  Globe Newswire

Teranet and Stratus Data Systems have launched REALM to the Toronto Regional Real Estate Board (TRREB). The modern, mobile-first new national front-end Multi-List Platform (MLP) merges land registry and MLS data to create a singular and enhanced experience for TRREB.

Tridel’s Scala stepping into North York skyline

Residential  •  Urban Toronto  •  RENX

Tridel Builders is bringing a uniquely terraced form to a site just north of Leslie subway station in North York. The 6.5-acre community includes Wallman Architects-designed Scala, a building that will rise to 18 storeys from converging terraced arms.

2C2B Coworking setting up shop in suburban Mtl.

Commercial  •  Les Affaires

Montreal’s 2C2B Coworking is constructing a four-storey building with 300 workstations, 10 conference rooms and a floor that can be transformed to host events. The $10-million project will be located at CentrOparc in the Montreal suburb of Mascouche and will complete in 2022.

Medicom, feds team up on $39M mask-filter plant

Commercial  •  Montreal Gazette

Pointe-Claire’s Medicom is getting $29 million from the federal government to build a $39-million facility that will focus on meltblown polypropylene, a key component used in the making of pediatric, surgical and N95-type respiratory masks.

Real estate podcasts

Residential, Commercial  • 

George Przybylowski, Informa Canada: Building the real estate forums, CRE Podcast
Bob Dhillon, Mainstreet Equity Corp: 14,500 apartments, CRE Library: Episode 50
Annie Korver, Rise Consulting: Indigenous reconciliation in CRE, REALtalk: Episode 25

Artis’ 317K-sq.-ft. Minn. industrial project underway

Commercial  •  Biz Journals  •  RENX

Ground has been broken on Artis REIT‘s (AX-UN-T) Blaine35, a three-building 317,400-square-foot class-A industrial development in Blaine, Minn. The ground-breaking marks the start of construction on Building A, a 118,500-square-foot facility with 32-foot clear heights.

Brookfield, Onex to battle for $5.4B Modulaire Group

Commercial  •  Bloomberg  •  The Real Deal

Brookfield Asset Management and Onex Corp. are competing to acquire Modulaire Group, the European designer of modular work spaces being sold by buyout firm TDR Capital, sources said. Modulaire could be valued at as much as US$5.4 billion in a deal.

Pianos, personal space help Brookfield lure staff back

Commercial  •  Bloomberg

Brookfield Asset Management is bucking the trend when it comes to hybrid work in a post-pandemic world. In the Asia-Pacific headquarters of the world’s second-biggest office landlord in COVID-safe Sydney, 90% of staff have been coming in for nearly a year.

Blackstone to buy office developer SOHO China in $3B deal

Commercial  •  Financial Post  •  IPE Real Assets

Blackstone Group Inc. will buy all issued shares in SOHO China Ltd for $3.05 billion and maintain its stock market listing, the Chinese office developer said in a filing on Wednesday. It would be Blackstone’s largest real estate deal in China.