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IPA brokering four prime Edmonton properties
IPA brokering four prime Edmonton properties
Institutional Property Advisors is brokering deals for four Edmonton properties that have attracted strong investor interest. The “Core Edmonton Portfolio” is comprised of three high-rise apartment projects; the “Longstreet Redevelopment Opportunity” is a partnership with First Capital Realty (FCR-T).
Montreal joins Toronto, Vancouver as top office markets
Montreal has joined Toronto and Vancouver as Canada’s hottest office markets, surpassing the west coast city for Q1 net absorption, according to JLL. “Montreal experienced the fastest economic growth out of all major Canadian cities in 2018,” said JLL’s Allison Wang.
Three firms to design $500M BMO Centre expansion
The $500-million expansion of Calgary’s BMO Centre will be planned and designed by three national and international architectural firms, officials announced on Thursday. The Calgary Municipal Land Corporation (CMLC) chose Edmonton-based Stantec, S2 Architecture and Populous.
Torstar closing and selling Hamilton property
• Global News • CBC • Hamilton Spectator
Torstar (TS-B-T) says it will close its Hamilton printing and mailroom operations this summer and look at selling the property. The printing work will be transferred to TC Transcontinental Printing and other Torstar-owned facilities as well as other external printers.
Latest Château Laurier addition under fire
• CBC • Ottawa Business Journal • Ottawa Citizen
The fifth — and possibly final — version of the addition to Ottawa’s Fairmont Château Laurier is public, and while it’s smaller in scale than what was originally proposed, it’s unlikely to find fans among those who’ve already criticized the modern design.
Keep shopping on Ste-Catherine St.: Mayor
• Montreal Gazette • Montreal Gazette
When Yang Wang opened his all-you-can-eat sushi restaurant four years ago, he had high hopes. But when the city started ripping up St. Catherine St. for Phase 1 of a major infrastructure overhaul in early 2018, things started to slide.
Fronsac acquires two Quebec properties for $9.5M
• Globe Newswire • RENX
Fronsac REIT (FRO-UN-X) today announced the acquisition of two properties in Lachute, Que., – a retail store operated under the Walmart banner and a quick service restaurant under the Tim Hortons banner. Total consideration paid was $9.5 million.
Windsor approves Phase 1 of infrastructure program
Windsor is moving forward with a multi-million-dollar investment in public transit, bike lanes, sidewalks and other active transportation projects. The city expects to see $145 million spent on transit and active transportation through the Investing in Canada Infrastructure Program.
Calgary’s CTrain station overhaul to cost $60M
• CBC • Calgary Herald • Global News
A massive overhaul of Victoria Park/Stampede CTrain station to bring the station to ground level and create level pedestrian crossings will cost $60 million. The change will extend 17th Avenue into Stampede Park, knocking the station down and rebuilding it entirely.
High-stakes Burnaby bowling-alley deal unenforceable
A real-estate deal involving a bowling alley sitting on a prime piece of Burnaby development property was “tainted by illegality” and has been deemed unenforceable by a B.C. Supreme Court judge.
Wesgroup ushers in days of wine and real estate
• Vancouver Sun • Western Investor • RENX
Vancouver condo developer Wesgroup Properties is offering free wine to pre-sale buyers in an attempt to one-up a competitor that offered free avocado toast to purchasers — attention-seeking gimmicks for a slowing real estate market.
FCL acquires Terra Grain Fuels ethanol plant
Federated Co-operatives Limited (FCL) will acquire Terra Grain Fuels‘ 150-million-litre-per-year ethanol plant near Belle Plaine, Sask. The 185,000-square-foot plant contributes more than $100 million annually in economic impacts to southern Saskatchewan.
Blackstone targets $5B for latest RE debt fund
Blackstone Group LP is seeking $5 billion for its latest fund that invests in real estate debt, according to a source. The vehicle, Blackstone Real Estate Debt Strategies IV, will focus on property-related wagers in public and private debt globally.
HFFS advises on $1.25B sale of MOB portfolio
HFF Securities, L.P. and Holliday Fenoglio Fowler, L.P. announced they have advised CNL Healthcare Properties, Inc. on its $1.25-billion sale to Welltower Inc. of a Class A medical office portfolio totalling 55 buildings across 16 states.
California towers could topple when ‘Big One’ hits
If emergency planners in this country look at California’s seismic preparations with envy, their American counterparts are starting to look with worry at something they may have overlooked for a long time: steel skyscrapers built between the 1960s and 1990s.
U.S. new-home sales fall 6.9% in April
Sales of new U.S. homes sank 6.9 per cent in April, driven by a decline in the sale of homes worth less than $300,000 that are generally bought by middle class and first-time buyers.
Unique plan proposed for U of T student rental building
A new student rental building has been proposed at 409 Huron St. on the doorstep of the University of Toronto. A rezoning application was submitted on behalf of the Impressions Group, calling for a SvN-designed four-storey student-focused residential apartment building.
Stress tests protect from potential housing crash: CMHC
Federal policy makers should not give in to calls to soften the mortgage stress test rule because it is protecting Canada from a potential housing crash and financial crisis, according to the head of Canada’s national housing agency.
Richmond council rejects further push for empty-homes tax
Richmond city council is not pushing for an extra empty-homes tax, but they are going to ask the province to return the tax it collects on vacant homes to municipalities.
Victoria supports motel remake into affordable housing units
• Victoria Times Colonist • Victoria Times Colonist
A proposal to transform the former Tally Ho motel site into a mixed-use development with 153 units of affordable rental housing will go to public hearing in Victoria. The Victoria Cool Aid Society with TL Housing Solutions propose a two-phase development.
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Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Oct 29 2024
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Mar 11 2025
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Palais des Festivals, Cannes, France
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