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Avison Young deleverages finances, gets S&P downgrade
Avison Young deleverages finances, gets S&P downgrade
Real estate services company Avison Young has completed a financial deleveraging CEO Mark Rose says positions it to navigate challenges facing the sector, despite a downgrading of its credit rating and corporate management by S&P Global Ratings.
Fiera Real Estate Industrial Fund tops $1 billion in AUM
The Fiera Real Estate Industrial Fund has surpassed $1 billion in assets under management (AUM) after completing close to $110 million in transactions during 2023.
OMERS CEO sees better days ahead for real estate
Falling property values across the commercial real estate sector put a dent in the Ontario Municipal Employees Retirement System’s (OMERS) investment returns last year, but chief executive officer Blake Hutcheson predicts “the worst is behind us.”
Brampton votes to demolish downtown heritage block
Brampton city council voted Wednesday to demolish a heritage block as early as this fall, as part of a plan to change the face of the city's downtown. The plan includes the purchase of some private properties and the demolition.
Ont. housing supply overstated: OHBA/BILD
A report commissioned by organizations representing Ontario’s developers and builders argues provincial authorities are overstating the amount of shovel-ready land by nearly one million units, fuelling a misconception the industry is “sitting on lots.”
Anthem asks Vancouver for new extension on $10M fee
Vancouver council is being asked once again to offer an extension to developer Anthem Properties, on the hook for a $10-million fee as part of rezoning for a 33-storey, 127-unit West Georgia Street condo development.
U.S. CRE loans problem spot for Canadian banks: Analyst
With most of Canada’s biggest banks exposed to U.S. CRE, the deteriorating quality of some real estate loans could lead to nasty surprises as lenders report fiscal first-quarter results this week, said Veritas Investment Research Corp. analyst Nigel D’Souza.
$60M committed to Churchill railway upgrades, port redev.
The federal and provincial governments laid further tracks for redevelopment of Churchill’s railway and port with a $60-million funding announcement. The Port of Churchill is Canada’s only deep-water Arctic access point connected to North America’s land transportation system.
Hazelview earns green certifications for multifamily portfolio
Toronto-based Hazelview Properties says it has met its goal to earn green certifications for its entire $7.2-billion Canadian multifamily portfolio. The certifications come from either the Canadian Certified Rental Building Program or BOMA BEST.
What does resilience mean in real estate?
In the world of earthquake readiness, resilient buildings are the ones that not only don’t collapse completely during a big shock but, ideally, are also ready for use again very quickly afterward.
Bank of Canada to cut rates in half by end of 2025: Desjardins
Canadians can expect the Bank of Canada to start providing some respite this spring as the central bank “slowly but surely” moves towards its first interest rate cuts, says Desjardins Group.
Apartment sector sets the pace in REITs: National Bank
VIDEO: Matt Kornack, real estate equity research analyst at National Bank, joins BNN Bloomberg to talk about trends in REIT earnings and what to watch for in the sector going forward.
Hamilton clears path for more residential density
Hamilton is clearing a path to more “gentle density” by inviting triplexes and fourplexes into neighbourhoods where single-detached homes predominate. The move to further chip away at “exclusionary zoning” is another phase of the city's ongoing efforts to avoid sprawl.
Calls grow to axe minimum parking for Ottawa housing
As the City of Ottawa works on a new zoning bylaw, there's a growing consensus that it should further relax parking rules to allow developers to build even fewer parking spots — or perhaps none at all.
Okanagan homebuilder facing mounting lawsuits
Lawsuits are mounting against an Okanagan custom home company whose leader has reportedly gone silent. Sunterra Custom Homes is owned and operated by Ranbir Nahal, allegedly also known as Ranvir Nahal, and is based in Vernon.
Boston sees largest drop in CRE prices of any global city
MSCI's RCA CPPI Global Index report found downtown Boston suffered the largest price decrease in the world last year. Property prices in Boston's central business district in Q4 were down 30.4% year-over-year.
CRE bears 'close monitoring': G20 watchdog
The outlook for global financial stability remains challenging given higher interest rates have yet to be fully felt and exposures to commercial real estate "bear close monitoring," Financial Stability Board chair Klaas Knot told G20 finance ministers and central bankers.
Host Hotels & Resorts has $2.9B for acquisitions
Host Hotels & Resorts has nearly $3B to spend on a bet tourism is returning to cities affected by the pandemic. The REIT said it has about $2.9B to invest in properties in cities like San Francisco.
Emerging bank considers CRE exposure as rivals exit
Even as many banks seek to trim their exposure to real estate globally, Standard Chartered Plc signals it could expand its presence in the market as it spies opportunities in the wake of the withdrawal of other players.
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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