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Rosefellow to build Toronto spec industrial, plans U.S. expansion
Rosefellow to build T.O. spec industrial, plans U.S. expansion
Montreal-based developer Rosefellow says it is set to build its first industrial development on spec in the Greater Toronto Area - and plans to acquire a second development site in short order. It also has ambitious expansion plans in the U.S.
OSFI says global lenders will be hit with losses in CRE
The Office of the Superintendent of Financial Institutions (OSFI) is warning global banks will be hit by losses in commercial real estate as valuations sink under the weight of higher borrowing costs and waning demand.
At least June before BoC cuts rates: Economists
The Bank of Canada will wait until at least June to cut its key interest rate as price pressures remain sticky, according to a firm majority of economists, who said the first cut could be later than they expect.
NexLiving to buy 991 Devcore apts., in stock, debt transaction
Halifax-based NexLiving Communities has entered an agreement with Gatineau, Que.’s Devcore to acquire a $224M portfolio of 16 multifamily properties comprising 991 apartments. The all-stock deal also involves assumption of mortgage debt.
Slumping economy threw wrench into Canadian Tire plan
As Greg Hicks prepared for the biggest event on Canadian Tire’s corporate calendar – the annual dealers’ convention where he would address hundreds of store owners – the CEO knew his speech had to acknowledge it had been a tough year.
Retail sales down 0.2% to $66.6B in November: StatCan
Statistics Canada says retail sales fell 0.2 per cent to $66.6 billion in November, led by decreases at food and beverage retailers. The agency's early estimate for December suggests sales increased 0.8%, but warned the figure would be revised.
Hedge fund calls on Parkland to refresh board
New York-based hedge fund Engine Capital is urging Calgary-based fuel retailer Parkland Corp. (PKI-T) not to fight a multimillion-dollar legal battle with largest shareholder Simpson Oil Ltd. and focus instead on refreshing the company’s board of directors.
Blackstone-Tricon shows deals are out there: Trez
Josh Varghese, real estate advisor and board member of Trez Capital, says Blackstone’s proposed US$3.5-billion acquisition of Tricon Residential shows that real estate deals are out there, even in a sluggish economy.
Investors show confidence in real estate: Survey
Canadians continue to look to the property market as a means of building generational wealth and an additional source of income, according to a recent survey conducted by Valour Group, District REIT and Pro Funds Mortgages.
Buyers, tenants eye Edmonton's industrial market
Edmonton’s industrial market is seeing a steady increase in positive absorption and more properties being put on the market causing vacancy rates to slightly jump — but in a positive way, says David St. Cyr, a principal with the Avison Young.
Proposed Calgary mixed-use dev. heads to hearing
Highfield Investment Group's proposal to develop 883 housing units and a 50-acre individual pod-style retail space on a 275-acre tract of sloping farmland on Calgary's city limits is heading to a Jan. 24 special public hearing,
Azure nets government funding to develop SAF facility
Azure Sustainable Fuels Corp., a Calgary-based sustainable aviation fuel (SAF) developer, last week received $13.4 million in funding from the Canadian government to support the creation of a production facility.
Queen's Park 'more involved' in Greenbelt scandal: Email
A recently discovered internal email related to the $8.28-billion Greenbelt scandal suggests Doug Ford's office "was far more involved" in the controversial land swap than the premier has maintained.
Calgary approves 8% off-site levies increase
Costs of new homes in Calgary are expected to go up as developers pay more to connect projects to municipal services. Council approved an updated off-site levies bylaw, resulting in an eight per cent increase to the rate developers pay.
Average Calgary rent jumps by more than 18% Y-O-Y
The average cost to rent a one-bedroom apartment in Calgary has grown by 18.7 per cent in the past year, according to Zumper.com. The organization says the average cost for a one-bedroom unit is now $1,840 per month.
Portage Avenue multifamily block coming to Winnipeg
Paragon Living's Park Bridge, a seven-storey, 84-unit apartment complex is expected to wrap up construction in September and open in October. It’s the first multifamily development on Portage Avenue in Winnipeg's St. James neighbourhood since before 1994.
Brookfield failed to repay Brooklyn office building’s $148M loan
Brookfield Property Partners failed to repay a $148 million loan backed in part by One Pierrepont Plaza in Brooklyn Heights when it came due last month. The securitized debt is headed to special servicing.
Maligned U.S. REIT sector draws buyers eyeing rate cuts
Investors have been wading back into the U.S. REIT sector. Global fund managers increased their exposure to REITs by 15 percentage points in December, pushing allocations to 12-month highs, according to the latest survey from BofA Global Research.
Matteson Capital, AO propose U.S.' tallest building
Developer Matteson Capital and architecture firm AO will request a variance from the City of Oklahoma City to increase the height for one of the towers in The Boardwalk at Bricktown to a United States record of 1,907 feet.
Hilton opens more rooms in Q4 than ever before
Hilton (HLT-N) ended 2023 with the strongest development quarter in its history, opening more new rooms than during any other quarter. The hospitality leader opened 132 hotels and approximately 24,000 rooms between October and December 2023.
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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