The final act: McCowan to buy out Partners REIT

RENX  Commercial  •  Investment, Retail  •  Ontario, Winnipeg

Shareholder McCowan and Associates intends to purchase all the remaining shares in Partners REIT (PAR-UN-T) and take the trust private, the two firms announced on Thursday. The transaction values the REIT and its assets at about $102 million.

Cominar hires BMO to explore Gare Centrale sale

Commercial  •  Bloomberg  •  RENX

Quebec City-based Cominar REIT (CUF-UN-T) has hired advisers including BMO to explore options – including a possible sale – of Gare Centrale (Central Station) in downtown Montreal as its strives to boost valuations, according to sources.

Melcor REIT buys Alberta retail power centre

RENX  Commercial  •  Retail  •  Alberta

Melcor Real Estate Investment Trust (MR-UN-T) has an agreement to acquire a 283,235 square foot retail power centre containing 15 buildings in Grande Prairie, Alta., for $54.8 million. The 33.3-acre site is at 108th Street and 100th Avenue (Highway 43), a regional destination corridor.

Minto to pay $281M for ‘premium’ Montreal apartments

RENX  Residential  •  Apartments  •  Greater Montreal

Minto Apartment REIT (MI-UN-T) has entered into an agreement to acquire Le 4300 and Haddon Hall, two premium institutionally owned and maintained multiresidential properties in Montreal. The properties have a combined 528 suites and are located in the Westmount and Ville-Marie neighbourhoods.

South Edmonton property on market for $50M

Commercial  •  Global News  •  CTV  •  Edmonton Journal

A piece of land in south Edmonton once slated to be part of an ambitious NAIT expansion is now being sold by the province. The 153-acre piece of land in the Ellerslie Industrial area is listed at $49.9 million.

Convert Edmonton office buildings into retail: Makespace

Commercial  •  Edmonton Journal

An Edmonton design and development company wants to create a new-look downtown by converting the ground floors of vacant office buildings into retail hubs. Makespace wants to redevelop one million square feet of unused downtown real estate into mixed-use space.

The Saskatchewan Edge › Federal election has major implications for CRE sector

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Birks unveils new concept store at Fairview Mall

Commercial  •  Canada Newswire  •  RENX

Birks Group unveiled its renovated Toronto flagship store in September and this week opened a new concept store at CF Fairview Mall. The Toronto flagship at the corner of Bay and Bloor has been transformed into an open-concept, 9,000-square-foot store.

Ottawa an obstacle to Calgary’s flood prevention plans

Residential, Commercial  •  Globe and Mail  •  CBC

OPINION: For the past few springs, many of us in Calgary have held our breath. We’re watching the snowpack, dreading every spring shower, not taking any pleasure in the blooming of trees and flowers.

Ottawa talked a good game on LRT: Opinion

Commercial  •  Ottawa Citizen  •  CBC  •  Ottawa Citizen

I was contemplating scribbling a humourous guide to riding the LRT. It isn’t funny — $2.1 billion later, in the first full week, people are walking downtown from stalled trains, or leaping over fences, or feeling trapped in stations.

Now’s the time for new GTA airport: BILD

Commercial  •  Toronto Star

If you are a longtime resident of the GTA, you will be familiar with the lengthy planning and discussions that have occurred around the building of another major airport.

Teranet and Nearmap announce partnership

Commercial  •  Canada Newswire

Teranet Inc., Canada’s leader in the delivery and transformation of statutory registry services, announced it has partnered with Nearmap Ltd., a leading provider of high resolution aerial imagery technology and location data that provides frequently-updated, high-resolution related imagery solutions.

Can REITs’ good times continue?

Commercial  •  Globe and Mail (Sub. required)

REITs have been on a tear this year, but further gains may require a continued rally in government bonds. That could be a bet worth making. The relationship between bonds and REITs is remarkably close.

Mizrahi honoured with Par Excellence Business Award

Residential, Commercial  •  Canada Newswire  •  RENX

The France Canada Chamber of Commerce Ontario (FCCC-O) announced the winners of its inaugural Gala and Business Awards. Sam Mizrahi, president of Mizrahi Developments, received the highest honour, the Par Excellence Business Award, selected by the chamber.

Letko Brosseau to vote against Gazit’s Atrium offer

Commercial  •  Canada Newswire

Letko, Brosseau & Associates Inc., which exercises investment control or direction over approximately 2.71% of the outstanding shares of Atrium European Real Estate Limited (ATRBF), will vote against Gazit-Globe Ltd.’s agreement to acquire the remaining stake.

U.S. millennial homeownership fell 20% in past decade

Residential  •  PR Newswire

After a decade’s worth of demographic and economic shifts, the U.S. has seen significant change in the balance between renters and homeowners according to a ValuePenguin.com report. Most notably, the study found millennial homeownership rates fell 20% in the past decade.

Ottawa strikes $6.25M affordable housing deal with Trinity

Residential  •  Ottawa Business Journal

Trinity Development Group has struck a deal to pay $6.25 million towards the City of Ottawa’s affordable housing fund, but there’s no guarantee any such units will end up in the firm’s proposed three-tower development next to Bayview Station.

T.O. sending mixed signals on tackling housing shortage

Residential  •  Toronto Star

OPINION: If the city was serious about tackling the housing shortage, why would it charge Toronto homeowners $300,000 to legalize three bachelor apartments in their house?

Co-living startup SoulRooms debuts in Toronto

Residential  •  Globe and Mail (Sub. required)

For Gaurav Madani and his business partner Arnab Dastidar, who founded co-living startup SoulRooms in July, their own experiences in Toronto’s property market convinced them of the need for co-living options.

International students have powerful influence on RE

Residential  •  Business In Vancouver

International students represent a powerful economic influence in Canada, according to data from the Canadian Bureau for International Education (CBIE), not the least of which is seen in the real estate sector.