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CanFirst fund acquires Loblaw distribution centre in Edmonton
CanFirst fund acquires Loblaw dist. centre in Edmonton
CanFirst Capital Management has closed on its first Edmonton area-based industrial property — marking the continued success of a five-year-old fund that has hitherto outperformed publicly traded Canadian REITs.
Minto Apartment REIT sells 2 apartment bldgs., cuts debt
Minto Apartment REIT (MI-UN-T) has sold its remaining two Edmonton apartment properties for $32.3 million and used the proceeds from the transaction to lower its debt.
High vacancies still a threat to office REITs
Investors are pouncing on beaten-up office real estate investment trusts as though it’s 2019 again, when dividend yields were low and working from home meant you were feeling sick. However, the rebound is ignoring a lingering risk: Vacancies remain high.
True North, First Nations to JV on Winnipeg projects
True North Real Estate Development and the Southern Chiefs' Organization plan to work together on their efforts to redevelop large structures in downtown Winnipeg. True North is conducting due diligence on a proposed $550-million redevelopment of Portage Place.
The bridge to Windsor’s revitalized future
Even though the city still bears the scars of recessions past, it’s undergoing major reconstructive surgery, courtesy of an unprecedented wave of investment that’s visible everywhere you look, including the two spans of the towering Gordie Howe International Bridge.
The One reaches skyscraper status
The One, developed by Mizrahi and designed by Foster + Partners and Core Architects, ascended to skyscraper status in November, having crossed the 150-metre threshold. The development billed as Canada’s tallest commercial condo building earlier entered into receivership.
EllisDon launches sustainable building platform EKO
Mississauga-headquartered construction company EllisDon has launched EKO, a data-driven platform to boost energy efficiency and reduce greenhouse gas emissions in buildings. EKO is already being used at The Joyce Centre for Partnership and Innovation at Mohawk College.
Ontario gov't makes little progress on AG's recommendations
The Ontario government has made "little or no progress" toward implementing 92 per cent of the auditor general's recommendations from its 2021 look at land-use planning in the Greater Golden Horseshoe.
OPINION: Toronto is no city for old buildings
Imagine if every Ontario building that was over 54 years old had reached its “end of life” and would be torn down. There’s an awful lot of old junk to get rid of. Let’s start a list.
Quebec restaurant bankruptcies increase 81.2% Y-O-Y
The number of restaurant bankruptcies in Quebec increased by 81.2% between October 2022 and October 2023 for a total of 337 since the start of the year, according to data provided by the Association Restauration Québec (ARQ).
Kelowna's Orchard Greens Golf Club listed for $16M
Kelowna's Orchard Greens Golf Club, a nine-hole course on 31.43 acres in East Kelowna, was recently listed for sale for $16 million. The course is nestled amongst a working apple orchard and the sale includes several other buildings.
Equitable Bank multi-unit loans up 11%
The parent company of alternative mortgage lender Equitable Bank reported record annual results for its 2023 fiscal year, with its fast-growing multi-unit lending space among the bright spots. EQB Inc. (EQB-T) reported adjusted net income of $147 million.
EL Regency proposes 11-storey residential building
EL Regency Group has proposed a 11-storey residential building at 665 Sheppard Ave. W. in North York's Clanton Park neighbourhood. The MAR Architect-designed building would house 259 residential units, ranging from one-bedroom to three-plus-bedroom layouts and 11 live-work units.
Hamilton mulling zoning amendment for residential dev.
Hamilton councillors are mulling Rymal Holding's application for a zoning amendment to build an eight-storey structure with 210 units, plus two, three-storey townhouses containing 10 residential units on a 0.73-hectare parcel of land located beside a car dealership.
The cheapest Metro Vancouver neighbourhoods for rent
Average prices for unfurnished, one-bedroom Metro Vancouver rental units are down for the third consecutive month but continue to rank No. 1 in Canada. The average price for a unit is $2,341, down $21 from November.
Oxford breaks ground on 165,000-sq.-ft. life sciences expansion
Oxford Properties Group has officially broken ground on a 165,000-square-foot expansion of Ionis Pharmaceuticals' main life sciences campus located in the San Diego life sciences submarket of Carlsbad and slated for completion by the end of 2025.
Macy’s investors mount US$5.8B buyout bid: Source
An investor group consisting of Arkhouse Management and Brigade Capital has made a $5.8-billion offer to take department store chain Macy’s (M-N) private, according to a person familiar with the matter.
UNIQLO to double N.A. with 20 new stores in 2024
Global retailer UNIQLO will accelerate its rapid growth with over 20 new locations planned throughout North America in 2024 include spring openings in CF Fairview Mall (Toronto); CF Market Mall (Calgary); Scarborough Town Centre (Toronto); and Bayshore Shopping Centre (Ottawa).
Hedge fund shorts Blackstone Mortgage Trust
A report from short seller Muddy Waters Research predicts Blackstone Mortgage Trust (BXMT-N) will take financial hits in the coming year and that the REIT is “at risk of a liquidity crisis.”
Industry Events
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Canada Real Estate Auction
Oct 22 2024
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Calgary Real Estate Forum
Oct 29 2024
Calgary TELUS Convention Centre
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MIPIM: The Global Urban Festival
Mar 11 2025
to Mar 14 2025
Palais des Festivals, Cannes, France
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