Alignvest buys 4 student housing buildings, doubles portfolio

RENX  Residential  •  Apartments  •  Ontario

Alignvest Student Housing REIT has doubled its portfolio with the acquisition of four modern, purpose-built student accommodation properties in three Ontario cities. “This is a transformative acquisition which basically doubles the size of our portfolio,” said managing partner Sanjil Shah.

WeWork takes aim at office market skepticism

RENX  Commercial  •  Office  •  National

There is no doubt WeWork has become a disruptive force in the global office leasing market, but it remains unclear whether the co-working giant can maintain its rapid ascent in the market while remaining a friend to landlords.

UBC turns land into a river of gold

Residential, Commercial  •  Vancouver Sun

On a wide red-brick sidewalk that wends through UBC’s Wesbrook Village, kids on bicycles bomb past Robert Lee, the 85-year-old visionary whose plan to turn a commuter campus into a bustling network of family neighbourhoods has exceeded his wildest dreams.

Ten towers proposed for Coquitlam site

Residential, Commercial  •  Tri-City News

A 10-tower Coquitlam development is in the preliminary planning stages. Marcon Developments, a Langley-based company, has made a pre-application to build six market residential towers, three rental towers and an officer tower.

Ambitious new pitch for Toronto’s Ontario Place lands

Residential, Commercial  •  Toronto Star

More waterfront parkland, rental housing units, and maybe even a new spa all while keeping the space public and preserving the distinctive Cinesphere and pavilion pods. That’s the vision for the future of Ontario Place and Exhibition Place.

Primont Homes proposes condo towers, community

Residential  •  Urban Toronto

Primont Homes has submitted an Official Plan Amendment to the City of Vaughan for the construction of a residential community. Primont is seeking re-zoning of the SXSW Condos site to allow for four residential towers and 11 townhouse blocks.

Office tower coming to Sydney, N.S., waterfront

Residential, Commercial  •  Cape Breton Post

The first phase of a Sydney, N.S., project by developer Harbour Royal Development will include a library, apartment complex and an office tower. Subsequent phases include a building for Ambassatour’s Harbour Hopper Tours and another connecting to the Holiday Inn.

CMLS Financial announces merger with IC Funding

Residential  •  Globe Newswire

CMLS Financial, one of Canada’s largest independent mortgage lenders, today announced its merger with IC Funding. The merger represents an important step forward for CMLS Financial, adding origination capacity and expertise in seniors and student housing.

Calgary to accept surety bonds for development

Residential, Commercial  •  Construction Canada

The City of Calgary will now accept surety bonds as an alternative to letters of credit as part of the Master Development Agreement (MDA) for residential, commercial and industrial development in the city.

Ottawa approves mixed-use development

Residential, Commercial  •  Ottawa Citizen  •  CBC

Ottawa council’s planning committee voted unanimously in favour of Taggart Group‘s application proposing to build a new mixed-use development on 11.5 hectares of land.  The development vision includes a car dealership and a high-rise building.

Sakto seeks five extra floors for 25-storey Ottawa tower

Residential  •  Ottawa Business Journal  •  CBC

Ottawa real estate firm Sakto Corp. has revised its plans for a major addition to its Little Italy property, adding five floors and nearly 60 units to its previous proposal to build a 25-storey residential tower at Preston Square.

Holloway sells Windsor, N.S., Super 8 hotel

Commercial  •  Canada Newswire  •  RENX

Holloway Lodging Corp. (HLC-T) today announced it has sold the Super 8 hotel located in Windsor, N.S. The sale price for the hotel was $5.3 million representing a cap rate of approximately 11.6 per cent and a price per room of $80,300.

London’s city councillors vote to kill BRT link

Residential, Commercial  •  London Free Press

London, Ont.’s west side, poised for an explosion of high-rises and single-family homes, was cut out of a rapid transit plan this week, a decision sealed by the politicians that represent the area.

Lululemon Q4 profit soars 80 per cent

Commercial  •  Vancouver Sun  •  Bloomberg

Lululemon Athletica Inc. (LULU-Q) is planning to expand its product offering and roll out a national loyalty membership plan after its profit surged more than 80 per cent in its most recent quarter, blowing past analysts’ expectations.

Dollarama cites ‘challenging’ environment for poor results

Commercial  •  Globe and Mail (Subscription required)  •  CTV  •  Canada Newswire

Fewer customers visited Dollarama Inc. (DOL-T) stores in its past quarter, its fourth consecutive quarter of declining traffic in a slowdown that its executives say is hitting other retailers as well.

REOC financial results:

Commercial  • 

Dundee Corp., (DC-A-T), Globe Newswire

Melcor Developments Ltd., (MRD-T), Sedar

CRA executes search warrants on Vancouver properties

Residential  •  CBC  •  Vancouver Courier  •  Business in Vancouver

The Canada Revenue Agency says its investigators executed search warrants on two properties in Vancouver today — part of an effort to find further evidence in a $77 million tax evasion case related to the Panama Papers.

Vancouver real estate: How low can it go?

Residential  •  Business In Vancouver  •  Vancouver Province

PODCAST:  Housing prices are falling, so is now the time to invest in real estate? Dane Eitel of Eitel Insights breaks down the ongoing corrections in Vancouver’s detached housing market and speculates how low prices may go.

Calgary named most affordable N.A. major market

Residential  •  NarCity  •  Bloomberg  •  Daily Hive

Canada is known for being home to cities with notoriously expensive housing markets, such as Toronto and Vancouver. However, Calgary is officially the most affordable major housing market in all of North America, according to Zoocasa.

U.S. mortgage rates see biggest weekly drop in a decade

Residential  •  Fortune  •  CNBC

U.S. mortgage rates fell more in the past week than they have in any one-week period in more than a decade. The average 30-year fixed loan has dropped 22 basis points to 4.06%, while 15-year fixed loans are down 14 basis points to 3.57%.