Canderel acquires Greystone Property Management

RENX  Commercial  •  Industrial, Office, Retail  •  Edmonton, Alberta

Canderel has acquired the assets, workforce and brand name of Edmonton-headquartered Greystone Property Management for an undisclosed price. “This is right in line with our strategy,” Canderel CEO Brett Miller told RENX in an exclusive interview.

Montreal’s mixed-use Royalmount project postponed

Residential, Commercial  •  CBC  •  RENX

The opening of Montreal’s Royalmount residential and commercial complex has been postponed to the summer of 2023 due to COVID-19, putting it one year behind schedule. The Carbonleo complex is expected to incorporate thousands of homes, upscale businesses and parking spaces.

Medallion seeks increased density at Casa Emery Village

Residential, Commercial  •  Urban Toronto

Medallion Corp. is seeking higher densities for its Casa Emery Village development. Medallion has completed three buildings while two more are under construction, but it has appealed to intensify its remaining space near the coming Emery stop on the LRT.

A bridge to Canada got the axe from U.S. lawmakers

Commercial  •  CBC

Less than one-millionth of a $1.9 trillion US pandemic-relief bill overall price tag had originally been set to fund operations of the half-century-old Seaway International Bridge, jointly run by the Canadian and U.S. governments.

Province launches group to examine Calgary office ills

Commercial  •  Calgary Herald

Alberta’s Jobs, Economy and Innovation Minister Doug Schweitzer published a guest column in The Herald announcing the province was launching a “working group” to examine the future of downtown Calgary and address high vacancy rates in downtown office buildings.

The Saskatchewan Edge › Density can’t come at the expense of massive property devaluation

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Jayman commits to energy-efficient, net-zero homes

BIZ  Energy, Commercial, Real Estate  •  Homes  •  Alberta

Calgary-based homebuilder Jayman BUILT has launched a new product line in Alberta, the Quantum Performance Ultra E-Home concept, built to net-zero certification standards.

Ottawa building contractors roll out new procedures

Commercial  •  Ottawa Business Journal

Just as the 9/11 attacks heightened security measures, COVID could change the sanitization and disinfection of buildings and public spaces. “Nobody is ever going to take something like this lightly again . . .” says Allen Maintenance‘s vice-president of strategic development Jeffrey Supino.

Developers pushing out indie Mtl. stores

Commercial  •  Montreal Gazette  •  CBC

In one corner, you have a Montreal community up in arms mom-and-pop businesses are being forced out by rent increases. In the other is developer Shiller Lavy, which insists it is just trying to survive in a difficult business environment.

Dilawri increases stake in Automotive Properties REIT

Commercial  •  Canada Newswire

893353 Alberta Inc. (Dilawri Group of Companies) announced it has acquired, through its subsidiary 9458743 Canada Limited, 1,369,102 trust units  of Automotive Properties REIT (APR-UN-T.) The acquisition brings Dilawri’s total holdings of such securities to 3,827,614 units (or approximately 9.8% of all outstanding units).

Podcasts from the real estate world

Commercial  • 

Wendy Waters, GWL Realty Advisors: The 2020 office tenant survey, CRE Podcast
Becky Hanner, Commercial Asset Services: The customization of tenant amenities and ROI, Tenant Experience Network. Season 2, Episode 4
Chris Campbell, Carpenters’ District Council of Ontario; Ivan Dawns, Interior Finishings: Black excellence in construction, The Construction Record: Episode 109

REOC fourth-quarter financial results

Residential, Commercial  • 

Bridgemarq Real Estate Services, (BRE-T), Canada Newswire
Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire
Kadestone Capital Corp., (KDSX-X), Canada Newswire
Parkland Corp., (PKI-T), Globe Newswire 

HBC to turn Saks.com into standalone business

Commercial  •  Globe and Mail (Sub. required)  •  Toronto Star  •  Reuters

HBC is selling a stake in Saks.com and making it a separate company, paving the way for its possible public offering. Venture capital firm Insight Partners has agreed to pay $500 million US for a minority stake in Saks.com.

Caisse, DP World invest $1.2B in Indonesian logistics park

Commercial  •  Canada Newswire  •  Toronto Star

Caisse de dépôt et placement du Québec and DP World have signed an  agreement with Indonesia’s Maspion Group to build a container port and industrial logistics park in Gresik. The projects will involve an investment of up to $1.2 billion US.

Ivanhoé, PLP JV on two-million-sq.-ft. U.K. logistics project

Commercial  •  Property Funds World

Ivanhoé Cambridge and PLP have acquired a new 135-acre logistics project located at South Caldecotte in Milton Keynes, Southeast England, via their existing logistics investment vehicle, PLP UK Logistics Venture (UKLV).

CoStar Group withdraws bid to acquire CoreLogic

Commercial  •  Business Wire

CoStar Group, Inc. (CSGP-Q) announced it has withdrawn its bid to acquire CoreLogic and terminated further acquisition discussions. CoStar Group believes rising interest rates will negatively impact the outlook for the mortgage refinancing market.

B.C. condo insurance crisis continues in 2021

Residential  •  Vancouver Sun

There are early signs B.C.’s condo insurance crisis may be easing, but it is far from stopping: Multi-unit developments are entering a second year of high insurance premiums and deductibles, creating financial hardship for homeowners and headaches for strata councils.

B.C. not stepping in to cool red-hot housing market

Residential  •  Daily Hive

Metro Vancouver’s housing market is again red hot, with record sales, skyrocketing prices and bidding wars. The government is idling in wait-and-see mode, hoping previous measures, including speculation and vacancy tax, will eventually slow things down.

‘15-minute city’ may not be realistic in N.A.

Residential, Commercial  •  Bloomberg

Transplanting Europe’s 15-minute city template across the Atlantic could be “presumptive and colonial” said Toronto-based urban designer and thinker Jay Pitter at the CityLab 2021 conference, hosted by Bloomberg Philanthropies and the Aspen Institute.

Pandemic launches boon in B.C. backyard offices

Residential  •  CBC

The future of work might not be at the office, or even at the kitchen table. Rather, Brian Borsato, president of Surrey-based Maas Designs, a First Nations-owned company, says backyard offices have been wildly popular.