LocationsRecent Articles
Mach, Sarees acquire Les Promenades Beauport mall for $80M
Mach, Sarees buy Les Promenades Beauport mall for $80M
Groupe Mach has added to its growing shopping list by spending $80 million to acquire, from Cominar, the Les Promenades Beauport shopping centre in Quebec City.
GM Capital to acquire Terra Firma; company valued at $46M
Terra Firma Capital Corporation (TII-X), a Toronto-based real estate finance company, is being acquired by its chairman Y. Dov Meyer and managing director Seth Greenspan through affiliate company GM Capital Corp. The deal values the firm at $46M.
Katasa buys Ottawa office buildings; eyes conversion
KTS Properties, the Ontario arm of Gatineau’s Katasa Group, and Sudbury-based ARG Devco have acquired two Ottawa office buildings - 22-storey 66 Slater St. and 13-storey 130 66 Slater St. - from Toronto’s KingSett Capital. Terms were not disclosed.
AIMCo set to revamp real estate portfolio
AIMCo's real estate has been “more muted” in 2023 as the firm focuses on revamping the portfolio to be more resilient and globally diversified at a moment when office and retail are coming under intense pressure, CIO Marlene Puffer said.
CMHC cuts dividend payment to boost rental dev.
The Canada Mortgage and Housing Corporation says it is temporarily reducing dividend payments to the federal government in order to redirect the funds toward supporting the construction of rental housing.
More Canadian buyers opt for home co-ownership
Unaffordable housing is the primary reason most Canadians who co-own their homes are buying the properties in partnerships with parents, friends or colleagues, a survey commissioned by Royal LePage found.
Intact estimates Q3 catastrophe losses at $570M
Intact Financial Corp. (IFC-T) Thursday estimated its catastrophe losses due to wildfires and other weather events totalled about $570 million so far in Q3. It noted the wildfires continue to burn and actual losses may differ from its estimate.
Retail sales impacted by wildfire smoke, pricey cities: JCWG
Canadian retail sales decreased in June, with all stores in June decreasing -0.4% year-over-year and all stores less automotive, food and pharmacies down -2.7% as inflation continues to impact Canadian consumers, according to J.C. Williams Group.
Costco reports increase in Canadian sales
Costco Wholesale Corp. reported net sales of $18.42 billion in August, up 5% from $17.55 billion last year. Comparable sales in Canada were up three per cent, while e-commerce fell 2.5%. U.S. sales increased 2.8%.
Victoria-area restaurant, lots listed for $5.5M
The waterfront Beach House Restaurant on two lots – totalling 16,732 square feet – at 5105 and 5109 Cordova Bay Rd. in Cordova Bay is on the market. It was listed with an asking price of $5.5 million.
Turkish children’s clothing chain Panco to enter Canada
Popular international children’s clothing chain Panco is coming to Canada. Entrepreneur and Canadian partner Mehmet Varol is bringing the concept to the country with plans to open Panco’s first Canadian store in Vancouver.
Insomnia Cookies opening first Canadian store
Insomnia Cookies, a brand known for delivering warm cookies to satisfy late-night cravings, particularly for the university community, is officially opening its first store in Canada Sept. 9 at York University in Toronto.
TD, BMO, CIBC borrowers see mortgages balloon
Three major Canadian banks have disclosed about 20 per cent of their residential mortgage borrowers – representing nearly $130 billion in loans – are seeing their balances grow as their monthly payments no longer cover the interest they owe.
Airbnb has major impact on Ottawa rental availability
With a growing number of renters struggling to find a place to live, concerns are being raised about Airbnb's impact on rental availability in Ottawa. Some property owners are also finding ways to work around the city's short-term rental rules.
Veritas poised to sell $940M mortgage portfolio
Veritas Investments, San Francisco's largest apartment landlord, is poised to sell a $940 million mortgage portfolio associated with 2,149 units in the city, the San Francisco Chronicle reports, citing anonymous sources familiar with the pending deal.
U.S. CRE loan modifications quadruple
Modifications on U.S. commercial real estate-related collateralized loan obligations quadrupled from Q1 to Q2 to $4 billion as more property owners sought refuge from encroaching maturity dates and rising interest rates, according to DBRS Morningstar.
Blackstone REIT sells Atlanta office tower for $175M
Blackstone REIT (BREIT) sold an Atlanta office tower in its efforts to cut exposure to office properties. The REIT sold 3 Ravinia in Atlanta’s Central Perimeter area this month for $175 million to Estein USA, according to public records.
Life science assets outperform despite slowing economy
Despite a slowdown due to rising interest rates, bank failures and economic uncertainty, niche life science properties maintain value premium, backed by a strong supply pipeline and positive long-term prospects. Sold properties average $770 per square foot in 2023.
Anchor vacancies fall by 30% in U.S. malls
Green Street's Annual Mall Grade Review found the overall performance of the 1,000 U.S. malls it tracked improved over the past year. It upgraded 145 malls and downgraded 83 malls, with the remainder keeping the same grade.
Hurricane Idalia insured losses could hit $9.36B
Hurricane Idalia arrived in Florida on Thursday as a Category 3 storm, leaving an estimated damage of up to $20 billion. UBS bank has estimated average insured losses could reach as much as $9.36 billion.
Industry Events
-
Canada Real Estate Auction
Oct 22 2024
-
Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
-
MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
Follow us on Social Media
Follow RENX on your favorite social media platform for news delivered to your feed.
Locations
