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Toronto's Rexdale Mall for sale in receivership process
Toronto's Rexdale Mall for sale in receivership process
Ernst & Young Inc. has been appointed receiver and manager to operate, market and sell the Rexdale Mall in Toronto's west-end Etobicoke neighbourhood. It is part of wider receivership proceedings which include Woodbine Mall and 1500 Birchmount Business Park.
Penticton's Sokana Phase 1 sells out, reveals pent-up demand
The quick sell-out of Phase 1 of a Penticton condo project reveals pent-up demand in B.C.'s South Okanagan market, with potentially thousands of others eager to join the city’s buyer pool, say the teams behind the two-building development.
JL Developments launches unique Alberta hillside community
Edmonton-based JL Developments is launching West Hawk, a new residential community of over 500 lots, in the Town of Cochrane just west of Calgary.
Day-care boom drives Alberta retail space race
A mid-year review of national retail markets by CBRE Ltd. notes day-care operators are booming in Calgary, even as financing for tenant improvements comes under greater scrutiny from lenders. Operator demand is transforming spaces that were otherwise hard to lease.
Rogers Sugar plans $200M expansion of Montreal plant
Rogers Sugar Inc. says it plans to spend $200 million to grow production capacity at its plant in Montreal to help meet increased demand in Eastern Canada. The project includes construction of a new bulk rail loading section.
Maple Leaf's Hamilton plant earns LEED Silver
Maple Leaf Foods (MFI-T) is hoping its first Leadership in Energy and Environmental Design (LEED) Silver-certified food production facility in Hamilton is only the start of a broader blueprint to make its buildings greener.
Revera to 'transition out' of managing retirement homes
Revera is rolling out plans to "transition out" of managing retirement homes across the country. Revera is a wholly owned subsidiary of PSP Investments, a federal Crown corporation. More than 80 seniors' residences are part of the proposed transfer.
Oxford launches $28M Yorkdale mall redev.
Oxford Properties Group announced a $28 million redevelopment of Yorkdale on Monday, just weeks after U.S. retailer Nordstrom shuttered its department store and as shopping centres across North America are vying to lure back customers.
GTA retailers bracing for real estate market shifts: JLL
GTA retailers must proactively adapt to the evolving dynamics of the real estate market. This entails closely monitoring areas experiencing growth and staying informed about new real estate projects that might present expansion opportunities, a JLL report states.
Peninsula buying seven B.C. Liquor Express locations
Peninsula Consumer Services Co-operative (Peninsula Co-op) has an agreement with the owners of Liquor Express to purchase seven retail locations on Vancouver Island: two in Saanich and others in Victoria, View Royal, Saanichton, Esquimalt and Nanaimo.
Monks, money and fierce debate over P.E.I.’s scarce land
Bliss and Wisdom’s growing real-estate empire has raised alarms on P.E.I., but the Taiwan-based, China-linked Buddhist organization says it’s complying with the island’s restrictive ownership rules.The group is linked to hundreds of land transactions in eastern P.E.I.
NexPoint sells Nashville Holiday Inn for $120M
NexPoint Hospitality Trust (NHT-U-X) announced it has sold its Holiday Inn Express in Nashville to NF V Acquisitions, LLC which will, at closing, pay US$120 million in cash for the real estate and personal property.
Ivanhoé, Hines ink Chicago lease with Raymond James
Ivanhoé Cambridge, alongside Hines, announced a lease with Raymond James for nearly two full floors at 120 South Riverside Plaza. The property is part of the 1.4-million-square-foot office complex in Chicago’s West Loop.
Delinquent loans mount on U.S. office assets
DBRS Morningstar projects the payoff rate on maturing commercial mortgage-backed securities will hover in the 50-to-55 per cent range for the remainder of 2023 with refinancing, special servicing agreements or liquidations largely related to office, retail and hotel.
WeWork risk seen in commercial mortgage bonds
Uncertainty surrounding the future of WeWork Inc., the office-space company reeling from a management shuffle and real estate problems, will pressure the commercial mortgage-backed securities market, with New York being particularly exposed, strategists for Barclays Plc write.
Interest in variable-rate mortgages rising again
Variable-rate mortgages appear to be gaining favour again as more Canadians bet interest rates have peaked. According to RATESDOTCA data, the percentage of variable-rate quotes rose to 13 per cent in July, a three per cent month-over-month increase.
Toronto rents continue to soar
As interest rates climb, the population grows and students sign leases ahead of the start of the school year, rents continue to soar across Toronto and the GTA, including for shared accommodation, says a report from Rentals.ca and Urbanation.
Average asking rent for 1-bedroom Van. apt. tops $3,000
Vancouver landlords are seeking, on average, rents of over $3,000 per month for a one-bedroom apartment in the city, according to Rentals.ca. That's a 16.2 per cent year-over-year and a 2.3 per cent month-over-month increase.
B.C. homeowners reluctant to rent out space: Poll
More than a third of British Columbians have space in their homes that could be rented out but isn’t, according to a recent Leger poll, which found fewer than one-in-10 B.C. homeowners rent out part of their homes.
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Canada Real Estate Auction
Oct 22 2024
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