Analyzing multifamily rental, vacancy trends across Canada

RENX  Residential  •  Apartments

Despite performing well through the pandemic, multiresidential rental and vacancy rates haven’t escaped its clutches. A panel of industry experts at this week’s Canadian Apartment Investment Conference discussed the impacts on their portfolios, and specific market issues.

BGO betting on technology data centres

Commercial  •  Globe and Mail (Sub. required)  •  RENX

BentallGreenOak is buying up data centres, betting on continued growth in the technology sector, which relies on the buildings to power their businesses. It acquired a 112,000-square-foot facility in Markham in May and another in Montreal in August.

Metropia proposes 39-storey mixed-use tower

Residential, Commercial  •  Urban Toronto

Metropia has proposed a 39-storey mixed-use, 406-unit condominium building at 1406 Yonge St. in the Deer Park neighbourhood. The IBI Group-designed building’s 406 dwellings are proposed as 184 one-bedrooms (45%), 182 two-bedrooms (25%), and 40 (10%) three-bedrooms. There would also be two street-facing retail spaces.

SmartCentres’ ArtWalk kicks off with 2 towers, mid-rise

Residential, Commercial  •  Globe Newswire  •  RENX

SmartCentres REIT (SRU-UN-T) announced the initial phase of the ArtWalk district at Vaughan’s 100-acre, 20-million-square-foot SmartVMC city centre will include 38- and 18-storey towers on top of a shared podium, alongside a separate six-storey mixed-use residence with retail at grade.

Mtl. industrial vacancy rate at all-time low: CBRE

Commercial  •  Montreal Gazette  •  Ottawa Business Journal

Vacancy rates for industrial space in the Greater Montreal Area fell to an all-time low of 1.2 per cent in the third quarter, new data from CBRE Ltd. shows. The previous record, 1.4 per cent, dates back to the second quarter.

CF Concierge platform rolled out nationally

Commercial  •  Canada Newswire

Cadillac Fairview, in partnership with HqO, announced the launch of CF Concierge, a mobile app designed to support building occupants with an enhanced workplace experience, offering access to digital amenities and services in CF office complexes in its Canadian portfolio.

Real Estate Wealth Insights › CRE proptech solutions continue to grow in prominence

Cliff Fraser: Chief Business Development Officer, Equiton Capital

Ottawa committee votes in support of embassies

Commercial  •  CBC  •  Ottawa Citizen

The National Capital Commission’s land in Ottawa’s Mechanicsville neighbourhood could soon be rezoned for up to five embassies, but Ottawa’s planning committee agreed the federal park proposed should be larger than previously planned. The committee approved the application Thursday.

Iconic Van. tower renamed for architect Arthur Erickson

Commercial  •  Vancouver Sun  •  Daily Hive  •  urbanYVR

In  a rare honour for an architect, Vancouver’s historic MacMillan Bloedel building – one of Canada’s most recognized and awarded office towers – will officially be rebranded as Arthur Erickson Place. Reliance Properties, KingSett Capital and Crestpoint bought the building in 2019.

At least 40 sign confidentiality agreements for REM

Commercial  •  Toronto Star

CDPQ Infra has signed at least 40 confidentiality agreements with cities, public bodies and even federal ministers since 2015 regarding the Réseau express métropolitain (REM), La Presse has learned. CDPQ says the practice does not aim to muzzle critics of the project.

Cineplex’s pandemic response similar to others: CEO

Commercial  •  Victoria Times Colonist

CEO Ellis Jacob told the Ontario Superior Court of Justice Cineplex Inc.’s (CGX-T) decision to slow payments to film studios and seek rent deferrals and abatements during the pandemic was akin to moves being made by Cineworld Group.

Real estate podcasts

Residential, Commercial  • 

Jonathan Gitlin, RioCan REIT: Evolution in real estate, CRE Podcast
Brian Chesky, Airbnb: Pandemic has disrupted the way we live and travel forever, Down to Business, Episode 119
Beth Berry, Beedie: Passion for process, Highview Partners People Who Perform

Canada exposed to ripple effects of Evergrande crisis

Commercial  •  Globe and Mail (Sub. required)  •  Financial Post  •  Globe and Mail

Canada’s largest pension funds and banks have limited direct ties to the Evergrande Group debt crisis, but there’s little question the Chinese company’s collapse would have painful knock-on effects, even if those indirect reverberations are difficult to quantify.

Real estate credit ‘zombies’ on the rise

Commercial  •  Bloomberg  •  Daily Commercial News  •  Asia Times

A new study on companies that have dodged default for years, even though they don’t have enough money to pay interest, comes just as global markets are roiled by real-estate giant China Evergrande Group’s showdown with its creditors.

ISS, Glass Lewis recommend vote for WPT takeover

Commercial  •  Globe Newswire  •  RENX  •  Business Wire

WPT Industrial REIT (WIR.U-T) announced Institutional Shareholder Services and Glass Lewis and Co., have recommended unitholders vote for the plan of arrangement in which an affiliate of Blackstone REIT would acquire all of the outstanding trust units for US$22 each.

Caisse backs CN Rail’s KCS takeover attempt

Commercial  •  Financial Post

Caisse de Depot et Placement du Quebec CEO Charles Emond is backing the board and management of Canadian National Railway Co. in their fight against an unhappy shareholder, saying they were right to attempt a takeover of Kansas City Southern.

Housing construction boom misses Toronto

Residential  •  Financial Post

Canada is in the midst of a record housing construction boom, but Toronto is notably absent from this surge. A report by the Royal Bank of Canada found that housing starts over the past 12 months were at their strongest since 1977.

LibertyHill, Caliber close on $10.7M for Vaughan project

Residential  •  Canada Newswire

LibertyHill Realty Partners Inc. announced the closing of its first Limited Partnership equity investment of $10,701,000 to acquire a prime parcel of land  in Vaughan. LibertyHill and Caliber Homes intend to create a low-rise residential community consisting of 70 modern freehold townhomes.

Dunpar proposes 15-storey residential building in Etobicoke

Residential  •  Urban Toronto

A proposed residential building at 4174 Dundas St. W. in the Lambton area of Etobicoke could deliver 117 units in the 15-storey development. MHBC Planning submitted a rezoning application on behalf of Dunpar Homes to the City of Toronto.

Hilo broadens its offer to residential properties

Residential, Commercial  •  Canada Newswire  •  RENX

The Hilo smart home service is now available for residential properties with five or more units. An increased number of homes in Québec can maximize their energy savings and take on Hilo challenges to reduce their consumption.