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Avenue Living buys Calgary's The Pinnacle apartments for $58M
Avenue Living buys Calgary's The Pinnacle apts. for $58M
Avenue Living has acquired Calgary's The Pinnacle apartments – its second major purchase in less than a year at the suburban property. In total, Avenue Living has spent $116 million to acquire over 600 rental units at the site.
Altus to acquire Situs Group's valuations services for $310M
Altus Group says it has an agreement to acquire the commercial real estate valuation and advisory services business of U.S.-based Situs Group LLC in an all-cash transaction which values the unit at $310.1 million Cdn.
Ottawa council OK's two-tower Lansdowne 2.0 plan
Ottawa council has approved the $419-million Lansdowne 2.0 plan, which includes a new events centre and north-side grandstands for the football stadium, along with two towers with 770 residential units, a “retail podium” and more underground parking.
Chartwell, Welltower end JV, divide up 40 seniors homes
Chartwell Retirement Residences and Welltower Inc. have announced plans to wind up a joint venture which has seen them partner on the ownership of 40 Canadian retirement residences comprising 8,476 suites.
Huge cold storage facilities taking shape in Ontario
Just off Highway 407 in Halton Hills, Ont., a column of blue racks is rising from the rural landscape. It is Phase 1 of a greenfield facility being built by Conestoga Cold Storage, provider of temperature-controlled warehousing and logistics solutions
Promise Robotics uses AI to revolutionize homebuilding
Promise Robotics, a Canadian artificial intelligence (AI) company developing a cloud-based industrial production platform for robotic construction and assembly, plans to use its technology to build homes faster, more sustainably and more economically.
Crown's leading GRESB result caps ESG progress in 2022
A leading position in the 2023 GRESB real estate assessment is a catalyst for further improvements in Crown Realty Partners’ environmental performance, according to Emily Hanna, managing partner of investments at the Toronto-based real estate investment and management firm.
Hudson Pacific completes $454.8M Bentall Centre refinancing
Hudson Pacific Properties, Inc. (HPP-N) announced the successful refinancing of the $454.8 million loan secured by Bentall Centre, a 1.5 million-square-foot office property located in Vancouver and owned in partnership with Blackstone.
Allen Square building in Waterloo to be converted
An underutilized office building in Waterloo will be converted into 129 housing units. Waterloo council voted Monday night to okay conversion of the former Allen Square building in uptown Waterloo to a mix of one-, two- and three-bedroom units.
Calgary banking on big downtown development
Calgary's $1.2 billion decision to move forward with the construction of a new arena has brought renewed hope to believe the renaissance of East Victoria Park, now rebranded as Calgary’s Culture and Entertainment District, is one step closer.
Van. may drop parking minimums in 2 neighbourhoods
Next week, Vancouver council will consider eliminating rules that set the minimum number of parking spaces required for new residential developments in the West End and the central Broadway area.
Canadian Tire laying off 3% of work force, cutting costs
Canadian Tire Corp. Ltd. (CTC-A-T) is laying off three per cent of its work force and cutting costs, as persistent economic pressures continue to affect consumer demand and weigh on retail sales.
Real estate podcasts
Ted Davis, Avison Young: Outside investment in Southwestern Ontario, CRE Podcast
Peter Riguardi, JLL: Lessons in selling CRE in NYC, Tenant Experience Network
Claudia Leung, Vancouver Fraser Port Authority: Reaching higher and learning to lead, People Who Perform
Brookfield Corp. stockpiles cash to prepare for deals
Brookfield Corp. (BN-T) is sitting on US$120 billion of capital with US$4 billion in cash and undrawn credit lines and another US$60 billion in liquid securities in anticipation of an uptick in deal-making.
Brookfield India REIT operating income jumps 44% in Q3
Brookfield India Real Estate Trust (BIRET) registered adjusted net operating income of $57.6 million Cdn in the third quarter, a 44 per cent year-over-year surge, thanks to increased offshoring from international companies and an expanded portfolio following recent acquisitions.
Japan’s SoftBank hit with $6.2B quarterly loss
Japanese technology company SoftBank Group Corp. racked up a huge loss in the July-September quarter as its technology investments, most notably office-sharing company WeWork, went sour. Tokyo-based SoftBank's loss totalled $6.2 billion US.
CBRE expects property values to fall another 10%
Workers will likely spend 20 per cent to 25 per cent less time in the office than before the pandemic, says CBRE Group CEO Bob Sulentic. CBRE now expects property values to fall another 10% after forecasting a 20% decline.
Blackstone takes $1.4B step into U.K. build-to-rent sector
Blackstone (BX-N) has acquired a huge portfolio of yet-to-be-built houses from homebuilder Vistry Group for $1.4 billion Cdn, a major push for the private equity giant into the U.K. rented residential sector.
Industry Events
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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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