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AI is coming: Is the real estate and development industry ready?
AI is coming: Is the RE and development industry ready?
Much has been written about the sweeping societal impacts of artificial intelligence, but real estate developers are only beginning to open their eyes to the potential benefits of implementing AI in their sales strategies.
Bureau probes Loblaws, Sobeys property controls limits
Canada’s Competition Bureau has launched investigations into the parent companies of grocery chains Loblaws and Sobeys for alleged anticompetitive conduct through property controls limits, court documents reveal, with Sobeys’ owner calling the inquiry “unlawful.”
Twin towers could be coming to Montreal's Central Station
Twin towers of nearly 650 feet could be built above Montreal Central station, La Presse has learned. Cominar has owned Montreal Central Station since 2012. It is the largest property in its portfolio.
As losses continue, LREIT to sell assets and shut down
UPDATED: Heavily indebted Lanesborough REIT (LRT.UN-V) intends to sell its property assets to a company connected to its vice chairman for $41M and cease operations. In its Q1 2024 financials released Thursday, LREIT reports a $2.3-million loss.
Hotel, conference centre planned for Winnipeg barracks site
A hotel and conference centre are planned for Winnipeg's former Kapyong Barracks. Treaty One Development Corporation, behind the creation of Naawi-Oodena, confirmed it had found “an ideal location” for a hotel and conference centre on the former Canadian Forces site.
York's 33-storey mixed-use London towers endorsed
London politicians voted unanimously to endorse 33-storey twin towers by York Developments at 530 Oxford St. The plan calls for 408 apartments between the two towers with a six-storey commercial podium connection and more than 800 parking spaces.
Mark Anthony Group scuttles plan for Kelowna hotel
Plans for a 12-storey boutique hotel on the site of the former Keg building in downtown Kelowna have been shelved. The Mark Anthony Group had proposed the hotel as part of a proposal to the city back in March.
Amazon opens 2.8M-sq.-ft. fulfilment centre in Calgary
Amazon (AMZN-Q) announced the grand opening of its newest 2.8-million-square-foot robotics fulfilment centre, YYC4, in Calgary. Amazon now operates five fulfilment centres, one sortation centre, three delivery stations and two AMXL delivery stations in Alberta.
Mainstreet target of cybersecurity incident
On May 21, 2024, Mainstreet Equity Corp. (MEQ-T) was the target of a cybersecurity incident, which affected Mainstreet’s internal systems. At this time, the company says, Mainstreet has no reason to believe its operating platform has been affected.
Ivanhoé Cambridge receives investment accolades
Ivanhoé Cambridge has been named global real estate investor of the year in the 2024 IPE Real Estate Awards for institutional investors. CDPQ was recognized as global best combined performer for investment in both real assets and infrastructure.
BGIS and First Nation form facilities management firm
BGIS announced a partnership with Des Nedhe Group, forming Ela Hultsi Facilities Management. This partnership brings together BGIS's extensive expertise in facility management with the heritage and entrepreneurial spirit of English River First Nation's Des Nedhe Group.
Maple Leaf Foods to close aging Brantford plant
Maple Leaf Foods (MFI-T) says it’s closing its 100-year-old poultry plant in Brantford, Ont., and consolidating production into its existing network through early next year.
More low-rise apartment blocks, townhouses coming to T.O.
Thousands of new homes, including low-rise apartment buildings, can potentially be built on neighbourhood main streets across Toronto after city council voted 21-3 to let developers erect buildings of up to six storeys and 60 units as well as townhouses.
Stalking horse bid made for Urban North Townhomes
The court-appointed receiver has received a stalking horse bid by Dunsire Homes Inc. — also known as Dunsire Developments — for the Pace Developments' planned Urban North Townhomes project in Barrie. The receivership was initiated by KingSett, which was owed $47M.
Metro Vancouver plan includes 670 below-market rentals
Phase II of a homebuilding partnership between the province and Metro Vancouver will deliver up to 670 below-market rental units in four separate urban areas, Premier David Eby said Thursday.
Real estate podcasts
Tony Irwin, Canadian Federation of Apartment Associations: Rethinking the rental market, CRE Podcast
Ed Pierzak, Nareit: Navigating REITs, CRE Exchange
Andrew Joyner, Tricon Residential: Interest rates vs rental market: Who Wins?, CRE Podcast
TD eases plans for U.S. branch expansion amid probe
Toronto-Dominion Bank (TD-T) is adjusting its growth strategy in the United States, easing back on its plan to accelerate branch openings as the lender assesses the extent of the blow from the U.S. probe into its anti-money-laundering procedures.
Firm Capital Apt. REIT sells Florida multifamily for $30.5M
Firm Capital Apartment Real Estate Investment Trust (FCA-U-X) has completed the sale of one of its wholly owned multifamily assets located in Florida for $30.5 million. Two Houston properties comprised of 485 multifamily units are also listed for sale.
Starwood’s $10B REIT tightens redemption limits
Starwood Real Estate Income Trust, a $10 billion fund managed by Barry Sternlicht’s Starwood Capital Group, is taking a drastic step to preserve liquidity by imposing tighter limits on investors’ ability to pull money.
Losses pile up in top-rated bonds backed by CRE debt
For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses, according to Barclays Plc.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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