Strata industrial hot commodity in Metro Vancouver

Commercial  •  Western Investor

Metro Vancouver’s lowest industrial vacancy rate in North America combined with the infamous appreciation performance of Vancouver-area real estate and rock-bottom financing rates has persuaded a growing number of industrial customers to buy their space rather than lease.

New life returning to downtown T.O. condo market

Residential  •  Globe and Mail (Sub. required)

Momentum in the GTA real estate market has swung back to the city core as buyers feel more optimistic urban life is undergoing a renaissance. “It was so surprising and so fast,” says Right at Home Realty‘s Manu Singh.

The Laundry Rooms seeks short-term rental niche

RENX  Commercial  •  Hotels and Resorts  •  National, Ontario

Launching a hotel and restaurant chain during a pandemic — when few people are travelling and inside dining is restricted — might not seem like the best timing, but The Laundry Rooms is off to a solid start.

Amazon building 5 new facilities in Metro Vancouver

RENX  Commercial  •  Industrial  •  Metro Vancouver, British Columbia

Amazon (AMZN-Q) has announced it is building five additional facilities across Metro Vancouver, including a 450,000 square foot, state-of-the-art fulfillment centre at the Port of Vancouver.

KingSett proposes 18-storey mixed-use

Residential, Commercial  •  Urban Toronto  •  RENX

KingSett Capital has proposed an 18-storey mixed-use building at 1423 through 1437 Bloor St. W. in Toronto’s Junction Triangle. The BDP Quadrangle-designed building would include retail, a community centre and 204 dwelling units comprised of 47 studios, 102 one-bedrooms, 34 two-bedrooms and 21 three-bedrooms.

Altree proposes 12-storey condo in Scarborough

Residential  •  Urban Toronto

Altree Developments has proposed a 12-storey, Kohn Partnership Architects-designed residential development at 54 Glen Everest Rd. in Scarborough. The proposed building would contain 359 condominium units along with 68 rental replacement units comprising eight studio units, 212 one-bedrooms, 163 two-bedrooms, and 44 three-bedrooms.

Extending the helping hand: Canada’s 2021 budget and CRE

Bill Argeropoulos: Bill Argeropoulos, Principal & Practice Leader, Research (Canada)

Duelling proposals bidding to lease Wpg. bridge space

Residential, Commercial  •  Winnipeg Free Press

The Manitoba Technology Accelerator and the Seven Oaks School Division have each proposed multi-use, event-style concepts to lease the 4,000-square-foot city-owned space on iconic bridge Esplanade Riel linking St. Boniface with downtown Winnipeg. The MTA proposal includes its head office.

Cineplex revenue sinks as third pandemic wave strikes

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

Cineplex Inc.’s (CGX-T) first-quarter revenues fell by 85.4 per cent, as Canada’s largest movie theatre chain continues to feel the sting of mandated closures during COVID-19’s third wave. The Toronto-based company reported $41.4 million in revenues in Q1, compared to $282.8 million year-over-year.

Real estate podcasts

Residential, Commercial  • 

Ray Wong, Altus Group: 2001’s biggest transactions to date, CRE Podcast
Radha Mistry, Autodesk: The Substrate, a future workplace, Work/Place Episode 1
Kimberly Train, 310.MAXX: Constant learning and championing change, Highview Partners People Who Perform

REIT first-quarter financial results

Residential, Commercial  • 

Artis REIT, (AX-UN-T), Canada Newswire
Dream Office REIT, (D-UN-T), Business Wire
Minto Apartment REIT, (MI-UN-T), Canada Newswire
Plaza Retail REIT, (PLZ-UN-T), Canada Newswire

REOC first-quarter financial results

Residential, Commercial  • 

Brookfield Property Partners, (BPY-UN-T), Globe Newswire
Chartwell Retirement Residences, (CSH-UN-T), Canada Newswire

PSP Investments, Bridge JV on $1.4B U.K. industrial

Commercial  •  Commercial Observer  •  Business Wire  •  IPE Real Assets

Public Sector Pension Investment Board and Bridge Industrial have partnered to deploy around $1.4 billion US into the acquisition and development of last-mile warehousing and distribution facilities in, and around, London and the Midlands region of the United Kingdom.

U.S. industrial REITs maintain FFO lead in April

Commercial  •  CP Executive

The U.S. industrial sector led all publicly traded U.S. equity REIT sectors in terms of the funds from operations multiple for the last 12 months, posting a 33.65x LTM FFO multiple, outperforming the SNL US REIT Equity Index by 8.15 percentage points.

U.S. retail chain openings outpace closures to start 2021

Commercial  •  Bisnow

Among U.S. chain retailers, announced store openings for this year account for more square footage than store closures, says Coresight Research. So far, 3,597 openings have either been executed or announced, totalling 49.7 million square feet. Closures total 3,395, representing 44.3 million square feet.

U.S. urban multifamily to rebound in 2021: Moody’s

Residential  •  Yahoo Finance

The outlook for the U.S. apartment sector has taken a positive turn, with effective rents expected to return to near pre-pandemic levels in 2022, according to Moody’s Analytics CRE Solutions.

N.B. contractors walk away over project costs

Residential  •  CBC

The cost of building material has skyrocketed to the point where some Fredericton-area contractors are now putting construction projects such as houses and apartment buildings on hold. Others have started buildings but can’t afford to finish them.

Victoria area needs 2,000 homes annually to avoid crisis

Residential  •  CTV  •  Victoria Times Colonist  •  Victoria Times Colonist

The Urban Development Institute Capital Region, alongside the mayors of Victoria, Esquimalt, Saanich, Sooke and Langford, say nearly 2,000 homes will need to open each year in Greater Victoria for the next five years to keep up with demand.

The most affordable Ontario cities to buy a house

Residential  •  CTV

According to Zolo, an independent real estate marketplace, Windsor tops the list as Ontario’s most affordable large-sized city. It will come to almost no one’s surprise that not a single city in the Greater Toronto Area made the list.

New rent report looks at GTA neighbourhoods

Residential  •  REMI Network

According to  liv.rent, rent for furnished units in Downtown Toronto dropped 25 per cent and 18 per cent for unfurnished units. The biggest percentage drop in rental prices was for three-bedroom apartments: 14.9 per cent for furnished and 13.9 per cent for unfurnished.