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Drop in valuations results in $499M Q4 net loss for Allied
Drop in valuations results in $499M Q4 net loss for Allied
Allied Properties REIT (AP-UN-T) suffered a $499.34-million net loss in its fourth quarter ended Dec. 31, in large part due to a $425-million decline in rental property valuations in Toronto, Montreal, Calgary and Vancouver.
Forum creates $200M fund; merges with Make Space storage
Forum Asset Management has merged with B.C.-based Make Space to create a $200-million Forum Make Space Storage Fund. The Toronto investor has also acquired two office buildings in Fredericton for $39 million.
CPP, Oxford sell 2 Van. office towers for $300M: Sources
CPP Investments and Oxford Properties Group have sold the two downtown Vancouver office towers at 402 Dunsmuir St. and 401 West Georgia St., to Germany’s Deka Group for about $300 million, according to sources.
Toronto’s historic Flatiron building sells for $15.4M
Lee Chow Group, a small Toronto-based real estate investor, has acquired Toronto’s historic Flatiron building for $15.4 million, only $200,000 more than Commercial Realty Group paid for the building in 2011.
Calgary-area mixed-use community rejected
Rocky View County council members rejected a contentious development proposed for the Bearspaw area after residents rallied to protest against it. Highfield Investment Group had proposed a community with 883 homes and a shopping centre adjacent to Calgary.
Anthem expands homebuilding presence, buys Cedarglen
The acquisition of Calgary homebuilder Cedarglen Homes by real estate investor, developer and manager Anthem Properties is a strategic decision to expand its presence in the sector, according to Anthem’s founder and CEO Eric Carlson.
 | The Industrial Real Estate Show Supply chains and industrial real estateChad GriffithsPartner, NAI Commercial |
Calgary's industrial real estate market strong: AY
Calgary's industrial real estate sector — once challenged by consistent supply issues — is showing signs of strength, according to market indicators. Avison Young's latest report found strong demand in Q4 and noted further vacancy increases meant the market moved toward balance.
Rethinking tower design at sustainable Chelsea Gardens
Designing the Chelsea Gardens rental tower slated for Brampton required a “totally different way of looking” at residential towers to achieve net-zero and zero carbon, one of the architects behind the project said.
Are Van. real estate projects in receivership only a blip?
Notable projects looking down the barrel of receivership are not new to Vancouver’s development industry – but recent activity may well be a canary in the coal mine, according to researcher Andy Yan, the director of Simon Fraser University's City Program.
Land costs threaten densification near Langley transit hubs
Langley is gearing up for increased density as is looks to build out the areas around transit nodes. However, government fees, higher material costs, the extended construction timeline and greater exposure to a changing market makes them riskier to undertake.
Hotel holdup hard on Wpg. convention centre
Patience is wearing thinner for RBC Convention Centre CEO Drew Fisher with no end in sight to construction on Winnipeg’s largest downtown hotel project in decades. The two-tower Sutton Place Hotel and Residences had a target completion date of 2021.
Feds extend ban on foreign buying of Canadian housing
The federal government is extending its ban on foreign home purchasing until the beginning of 2027. It bans foreign nationals and commercial enterprises from buying residential property in Canada, with exceptions for some international students, refugee claimants and temporary workers.
BoC will wait until June or July to cut interest rate: Tal
Benjamin Tal, deputy chief economist at CIBC Capital Markets, talks with Financial Post’s Larysa Harapyn about interest rates and economy and the upcoming U.S. election.
Edmonton condo sales increase, raising comeback hopes
Edmonton real estate agents are hopeful the city's condominium market is rallying, with sales ticking up after a decade-long slump. The latest numbers from the Realtors Association of Edmonton show apartment-style condo sales jumped 50 per cent year-over-year in January.
B.C. wants properties forfeited over alleged money laundering
The B.C. government wants three Vancouver properties forfeited after the tenants were caught allegedly using them “to produce and traffic controlled substances and to facilitate laundering the proceeds of crime."
Colliers: Absorption fills one-third of new industrial supply
A record 607 million square feet of new industrial projects delivered across the country last year, while the U.S. saw 231 million square feet of positive net absorption, according to Colliers' Q4 2023 industrial report.
N.Y. Community Bancorp faces downgrade over real estate
New York Community Bancorp may have its credit rating cut to junk by Moody’s Investors Service as the firm stockpiles money and spends more to fund operations. The review reflects the bank’s issues with office and multifamily real estate loans.
U.S. CRE losses trigger 20% drop in Japanese bank
Japan’s Aozora Bank became the second lender in a span of hours to surprise investors with losses tied to U.S. commercial property, sending shares down by the limit and heightening concern over global banks’ exposure to souring real estate bets.
Uneven path to finish Evergrande’s abandoned housing
In the heart of the northern Chinese city of Shijiazhuang, a fence displaying the slogan “Happy Every Day” hides an unfinished apartment complex, a reminder of the unresolved costs of the collapse of China Evergrande Group, once China’s largest developer.
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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