Menkes plays major role in Toronto downtown east revival

RENX  Residential  •  Office, Retail, Apartments, Condominiums  •  Toronto / GTA

Menkes was a pioneer in developing Toronto’s now-thriving south core area and is now making its mark in the city’s evolving downtown east node. “The overall area has the best of both worlds,” Sean Menkes said.

Werkliv focused on building affordable student housing

RENX  Residential  •  Apartments  •  Greater Montreal

Daniel Goodfellow has gone from getting help “from the bank of mom” to buy his first condo in 2002 while studying at McGill University, to building a 19-storey student rental development in downtown Montreal that promises affordability to students.

Canada’s big three grocers see shifting shopping habits

Commercial  •  Toronto Star  •  Canadian Grocer  •  Toronto Star

Financial results from Canada’s three largest grocers offered a clearer picture of how the pandemic has shaped shopping habits — and how consumers respond when public health restrictions are eased. At the onset of the pandemic, all three saw sales soar.

What does future hold for Starbucks in Canada?

Commercial  •  Globe and Mail (Sub. required)

Canadian investors who have watched their neighbourhood Starbucks stores shutter in recent months might wonder if the world’s largest coffee retailer is losing its buzz. The Seattle-based chain said last fall it would close about 300 of its stores in Canada.

Canada Lands invests $50M in Montréal port

Commercial  •  Canada Newswire

Anita Anand, Minister of Public Services and Procurement, announced Canada Lands Company‘s $50 million investment in the initial phase of improvements to revitalize the Old Port of Montréal which will begin in the second half of 2022.

West Point proposes two Kelowna mixed-use buildings

Residential, Commercial  •  Castanet

West Point Projects has proposed two mixed-use buildings of five and six storeys for a 1.9-acre property it owns in Kelowna. The rental development would include 182 street-oriented townhomes and apartment units along with commercial space.

The Saskatchewan Edge › 4 reasons to engage a chess player to guide your CRE strategy

Barry Stuart: Managing Partner and Senior Sales Associate , ICR Commercial Real Estate

Business districts will soon roar back to life: Allied

Commercial  •  Financial Post  •  RENX

Allied Properties REIT (AP-UN-T) chief financial officer Cecilia Williams says the business districts of Toronto, Montreal and Vancouver will soon come roaring back to life with more than 60 per cent of Canada’s population fully vaccinated against COVID-19.

ENCOR Advisors unveils new CRE platform

Commercial  •  PR Newswire

ENCOR Advisors, led by recognized market leaders previously with Devencore, has unveiled its new commercial real estate platform, reflecting a bigger vision for the future. ENCOR’s headquarters is located at Citigroup Place in the heart of downtown Toronto.

Procore plans greater contech integration with Bridgit

Commercial  •  Commercial Observer

Construction management software giant Procore Technologies is expanding its work with Kitchener-based Bridgit, a construction workforce intelligence company, the two contech companies announced. The move underscores the growth in contech, which preceded the pandemic.

Cineplex reports $103.7-million second-quarter loss

Commercial  •  CBC

Cineplex Inc. (CGX-T) lost $103.7 million in Q2 as it was able to open more theatres as provinces began to reduce mandatory closures and ease capacity restrictions. As of July 17 all of the company’s theatres and entertainment venues were open.

REOC second-quarter financial results

Residential, Commercial  • 

Firm Capital Property Trust, (FCD-UN-X), Globe Newswire
Skyline Investments Inc., (TASE: SKLN), Globe Newswire

Hyatt to acquire Apple Leisure Group for $2.7B

Commercial  •  Globe and Mail (Sub. required)  •  Business Wire

U.S. hotel operator Hyatt Hotels Corp. (H-N) said on Sunday it entered a deal to buy resort company Apple Leisure Group from its private-equity owner KKR & Co and travel-and-leisure specialist KSL Capital Partners for $2.7 billion in cash.

Ivanhoé, Allianz to redevelop London office asset

Commercial  •  Property Funds World  •  IPE Real Assets

Ivanhoé Cambridge and Allianz will redevelop London’s Stonecutter Court to create a next-generation office space in response to occupier needs and increase net lettable space by 66 per cent to 250,000 square feet.

WeWork sees signs of recovery in $923M Q2 loss

Commercial  •  Bisnow

WeWork is at the point of recovery where it sees its dwindling quarterly losses as longer-term gains. The co-working giant reported on Friday it lost $923 million during Q2 2021 on revenues of $593 million, down considerably from its $2 billion loss in Q1.

Tim Hortons China to go public in $1.69B SPAC deal

Commercial  •  Financial Post

The company running the Chinese business of Canadian coffee shop chain Tim Hortons agreed to go public through a merger with blank-cheque company Silver Crest Acquisition Corp. The transaction will value Tim Hortons China at about US$1.69 billion including debt.

Home Capital has plenty of cash

Residential  •  Globe and Mail (Sub. required)

Amidst Home Capital Group Inc.’s (HCG-T) second-quarter results, one detail stood out: The alternative mortgage lender’s pile of cash has grown to eye-popping levels, raising questions about whether dividends, buybacks and another jump in the share price might be coming.

Condo market rebound fuelled by rental demand

Residential  •  Globe and Mail

Condominium markets in some of Canada’s biggest cities have rebounded strongly this year, and agents and analysts say the market could once again return to pre-pandemic red-hot conditions as rental demand surges and inventories evaporate.

GTA detached-home listings hit a decade low for June: RE/MAX

Residential  •  Financial Post  •  Canada Newswire

A shortage of single-detached homes in the GTA has caused prices in some districts to surge more than 40 per cent, Re/Max Canada reports. There were 11,297 active listings in June, the lowest level for the month in over a decade.

Home sales drop for fourth month in row: CREA

Residential  •  Toronto Star  •  Canada Newswire  •  CBC

The Canadian Real Estate Association says home sales continued to cool in July as they fell on a month-over-month basis for a fourth consecutive month. The association says home sales for July were down 3.5 per cent month-over-month.