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BGO to buy 50% interest in 3 RioCan GTA properties
BGO to buy 50% interest in 3 RioCan GTA properties
RioCan REIT (REI.UN-T) and BentallGreenOak are expanding an existing partnership with a transaction valued at $151.2 million, under which BGO will acquire a 50 per cent non-managing interest in three Greater Toronto Area multifamily and retail properties.
H&R REIT sells Calgary’s Bow tower, Bell office campus
• Canada Newswire • Financial Post • Globe and Mail
H&R REIT has entered agreements to sell the 2.0 million sq.ft. Bow office tower in Calgary and the 1.0 million sq.ft. Bell office campus in Mississauga to Chicago-based private equity firm Oak Street Real Estate Capital, a transaction valued at $1.67 billion.
Blackstone to acquire WPT Industrial in US$3.1B deal
Blackstone REIT has an agreement to acquire Toronto-based WPT Industrial Real Estate Investment Trust (WIR.U-T) in an all-cash transaction which values WPT at $3.1 billion (all figures US), including the assumption of debt, the companies announced Monday morning.
Soneil acquires two GTA industrial properties for $120M
Soneil Investments is continuing to grow its commercial real estate portfolio by significant leaps and bounds. The Brampton-based company has acquired two more industrial assets in the Greater Toronto Area for $120 million.
VersaCold completes H&R, Crestpoint warehouse buy
• Canada Newswire • RENX
VersaCold Logistics Services announced it has completed the acquisition of a strategic portfolio of cold storage warehouse assets from H&R REIT,(HR-UN-T) and Crestpoint Real Estate Investments Ltd. Terms of the transaction were not disclosed.
WeWork, Cushman to form $150M partnership
• Wall Street Journal • Wall Street Journal • The Real Deal
WeWork and Cushman & Wakefield are discussing a $150-million partnership to help office tenants with remote work and flexible spaces. Cushman would invest in the coming merger between WeWork and BowX Acquisition, a SPAC deal that would take WeWork public.
IWG report finds Canadians’ less willing to commute
• Globe and Mail • IWG Report: The 15-Minute Commute. A new work paradigm for the 21st century
Many Canadians aren’t ready to give up on the benefits of avoiding the commute to work. In a study by Angus Reid on behalf of the International Workplace Group (IWG), nearly a third want to commute no more than 15 minutes.
Catholic organizations own $3.3B in property
Charity Intelligence has identified 3,446 Catholic organizations, which received a combined $886-million in donations in 2019. Their assets totalled $5.2-billion, with $1.7-billion from cash and investments and $3.3-billion from property. Including liabilities, the Catholic Church’s combined net assets amounted to nearly $4.1-billion.
CMLS issues August Commercial Mortgage Commentary
CMLS Financial, one of Canada’s largest, independently owned mortgage services companies, has released its August Commercial Mortgage Commentary featuring the tight industrial tenant market across the country, growing inflation concerns, why commercial mortgage spreads continue to compress and more.
Firm Capital buys 50% interest in condo, manuf. homes
Firm Capital Property Trust (FCD-UN-X) has acquired a 50% interest in a 242 condominium unit manufactured housing community named Hidden Creek Condominium in McGregor, Ont. The price for 100% of the 242 condominium units is approximately $10.7 million, excluding transaction costs.
RioCan reports $145.3M Q2 income as tenants reopen
RioCan REIT (REI-UN-T) is seeing tenants steadily signing leases as businesses reopen following COVID-19 lockdowns, with office rental rebounding more slowly. Riocan completed 1.4-million square feet of leasing in Q2, 2.5 million square feet so far this year.
REIT second-quarter financial results
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Artis REIT, (AX.UN-T), PR Newswire
Cominar REIT, (CUF.UN-T), PR Newswire
Crombie REIT, (CRR.UN-T), PR Newswire
First Capital REIT, (FCR.UN-T), PR Newswire
Killam Apartment REIT, (KPM.UN-T), PR Newswire
Plaza Retail REIT, (PLZ-UN-T), PR Newswire
Riocan REIT, (REI-UN-T), Globe Newswire
Slate Office REIT, (SOT-UN-T), Business Wire
True North Commercial REIT, (TNT-UN-T), PR Newswire
Trez Capital completes sale of Texas apartment project
Trez Capital has announced the sale of The Beacon on Westmoreland in Desoto, Texas. Built in partnership with Thompson Realty Capital, LLC on 10.41 acres of land, it offers 194 units in a class-A, garden-style apartment complex.
Lincoln Property, CF fund acquires Denver apartment
Lincoln Property Company and Cadillac Fairview have purchased a 13-storey boutique residential and retail community in Denver’s Union Station neighbourhood, the second acquisition from the firms’ $800M U.S. multifamily fund.
OMERS JVs on purchase of laboratory services provider
• Globe Newswire • Globe Newswire
OMERS Infrastructure (37.5%) , Goldman Sachs Asset Management (37.5%) and AXA IM Alts (25%), have signed an agreement to acquire 100% of amedes Group, a provider of medical diagnostics services. amedes has 75-plus laboratories and specialty medicine sites across Germany, Belgium and Austria.
Vici Properties to buy MGM growth in $17.2B REIT deal
VICI Properties is acquiring MGM Growth Properties in a transaction that values MGM Growth at $17.2 billion. VICI said the deal would expand its portfolio with 15 entertainment resort properties featuring millions of square feet of meeting, convention space and 3,000 hotel rooms.
BMO, CMHC commit $12B for affordable housing
Bank of Montreal is making $12 billion in financing available to developers of affordable housing over 10 years, as part of a plan by CMHC which includes a similar pledge for $10 billion in April by Bank of Nova Scotia.
Ottawa auction guru sets sights on real estate market
Ottawa’s newest tech company Unreserved.com paves a new trail for transparent home buying as the hammer drops on its first home sold. It was a first for the Unreserved team, and Ottawans who witnessed 601 Edenwylde transact online.
Montreal home sales, new listings drop 30% in July
• The Star
The Quebec Professional Association of Real Estate Brokers (QPAREB) says Montreal home sales and new listings dropped by about 30 per cent in July compared with July 2020. It’s a signal the market is returning to pre-pandemic levels, the report states.
Growing demand for ‘more house’ part of the problem
OPINION: In recent years, incomes have been rising and mortgage rates falling. That has increased the demand for the amount of housing in each dwelling unit. Again, the supply side has responded robustly.
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Oct 29 2024
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Mar 11 2025
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Palais des Festivals, Cannes, France
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