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RioCan buys 50% stake in downtown Calgary apartment tower
RioCan buys 50% stake in downtown Calgary apt. tower
RioCan Real Estate Investment Trust (REI-UN-T) is expanding both its growth strategy and its residential portfolio with the acquisition of a 50 per cent interest in The Underwood residential and mixed-use tower in Calgary from developer Western Securities.
7 towers planned in devs. at future Langley SkyTrain station
A total of seven high-rise towers up to 44 storeys are proposed for two development parcels northwest of Langley's future Willowbrook Station. A Ciccozzi Architecture-designed project would comprise 2,651 housing units and 60,000 square feet of ground-level retail/restaurant.
BTB REIT sells two Longueuil office properties for $6.2M
BTB REIT (BTB-UN-T) announced the sale of two office properties at 32 and 50 Saint-Charles Street W., in Longueuil, Que. The two buildings of 14,054 and 19,568 square feet were sold for a total of $6.2 million.
CF embarks on $9.5M decarbonization of Van. properties
Cadillac Fairview has committed $9.5 million to decarbonize its Pacific Centre and Waterfront Properties in Vancouver. The upgrades are expected to cut up to 3,000 tonnes of carbon dioxide per year when complete.
Katz Group wants to use Edmonton parking lots until 2028
The Katz Group wants to keep using two longstanding vacant plots of land north of Rogers Place as surface gravel parking lots for up to five more years, requesting an extension from the City of Edmonton for the second time.
University campus set to open at Vancouver office tower
This summer, University Canada West (UCW) is scheduled to occupy nearly 89,000 square feet of space in the new B6 office tower at 1090 West Pender Street in the core of Vancouver's Central Business District.
Virtus Diversified announces Timmins CRE lease renewal
Virtus Capital Corporation, the asset manager of Virtus Diversified REIT, announced a lease renewal from the sole tenant, a federal government owned Crown Corporation, at its commercial property located in Timmins, Ont. The renewed lease extends through Jan. 31, 2030.
As malls decline, are they really worth mourning?
OPINION: By consigning them to the realm of memory and nostalgia, we were acknowledging that the malls of our youth are gone – perhaps permanently – and that today’s teenagers might be missing something essential from our own adolescence.
Broker Mark Goodman has affinity for finer things in life
“Every piece has a story,” says Vancouver-based Mark Goodman as he walks through his office in Vancouver’s South Granville neighbourhood, showing off works from the likes of Roy Lichtenstein, Andy Warhol and Jean-Michel Basquiat.
Where to find the best value in REITs
OPINION: There has been an understandably big difference in the performance of various subsectors of the REIT market. On the bright side, Canadian multifamily REITs have returned somewhere in the mid-20-per-cent range in 2023.
Top-10 largest construction project starts in Canada
The accompanying table records the 10 largest construction project starts in Canada in January 2024. 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.
Park & Main: Housing for larger, intergenerational families
Increasing demand from intergenerational and growing families has sparked Minto Communities to introduce its first flexible housing plans at its Park & Main townhome development in Markham, Ont. Park & Main is planned to have a total of 119 townhomes.
Occupancy fees a growing problem in condo sector
The so-called “occupancy period” – the length of time between when the buyer of a new condo is given the keys and when the buyer takes actual ownership of the unit – is growing longer and more expensive.
OPINION: Retail-owned land provides a housing solution
Redeveloping retail sites is one prong in addressing the land crisis underlying the housing shortage. Vacant land is typically scarce in city cores – just 2.1 per cent of Toronto land is available, according to the most recent Statistics Canada data.
Real estate podcasts
Rob Murchison, Intelligent Buildings: How tech innovations shape the future of CRE, CRE Podcast
Sara Kalke, RE/MAX Real Estate: Why is Edmonton's condo market so weird?, This Is Edmonton
Colin Lynch, TD Asset Management: How to effectively assess global investment opportunities, CRE Podcast
Germany's Aareal warns 25% of U.S. office loans bad
Troubled German lender Aareal said on Thursday a quarter of its $4.3 billion US in loans for U.S. offices were likely to go unpaid and that there could be worse to come as a property rout takes hold.
Sixth Street CEO ready to bet big on battered CRE
Sixth Street Partners CEO Alan Waxman said his firm is ready to capitalize as banks grapple with stress in their real estate portfolios. Sixth Street, which manages about $75 billion, solidifying its standing as one of the most active dealmakers in the booming private credit market.
S&P downgrades Blackstone Mortgage Trust
S&P Global Ratings downgraded Blackstone Mortgage Trust from BB- to B+ based on concerns about its asset quality after the firm reported that it had $1.9B in impaired loans on its books at the end of 2023.
White House office conversion fund finds few takers
Citing lengthy delays and red tape, U.S. developers have been slow to tap a Biden administration program designed to finance office conversions near transit.
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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