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NWRE buying U.S. apartments with new US$100M fund
NWRE buying U.S. apartments with new US$100M fund
Vancouver-based Nicola Wealth Real Estate (NWRE) raised more than US$100 million for its closed-ended Nicola U.S. Multi Family Limited Partnership fund in 45 days to take advantage of an acquisition window south of the border.
Colliers Canada CEO sees 'wonderful' opportunities in CRE
For Brian Rosen, chief executive of Colliers Canada, weathering economic uncertainty and changing market trends is par for the course at a real estate and investment company with a 125-year legacy. Rosen talks about the secrets of Colliers’ longevity.
Iacoucci named BGO's new head of Canada
EXCLUSIVE: BGO’s newly named head of Canada and Canadian chief investment officer, Christina Iacoucci, wants to make it better known that the real estate firm is a leading third-party property manager in Canada.
Morguard to sell 14-hotel E. Canadian portfolio for $410M
UPDATED: Morguard Corp. has an unconditional agreement to sell a portfolio of 14 hotels in Halifax, Ottawa, the Greater Toronto Area and Sudbury, Ont., for $410 million.
Calgary office vacancy improving, buildings still empty
The long march to fill the vacant office towers in downtown Calgary continues with “baby steps” taken on a prolonged trek. Vacancy in downtown office buildings dropped to 30.2 per cent as of December 2023, according to CBRE.
Calgary's office-conversion program seen as national model
No community anywhere would willingly choose to have Calgary's nearly 30 per cent downtown office vacancy rate. Calgary has been busily working to convert underused office towers to residential housing, thanks to the city’s one-of-a-kind incentive program for developers.
Office conversion eases Ottawa’s class-B woes
Office conversion plans helped trim downtown Ottawa vacancy rates in Q4 2023. Colliers Canada reports 338,000 square feet of positive absorption citywide in the quarter, with most activity downtown and in the Kanata suburban market.
CF Polo Park adds retailers as mall dominates Wpg. market
Winnipeg’s CF Polo Park has added two new retailers at the 1.2 million-square-foot mall. First-to-market retailer Zara opened a 20,000-square-foot store and Knix created a pop-up prior to opening its first Winnipeg store in the spring.
Jane Finch Mall to be demolished, replaced with condos
Another Toronto mall is set to vanish to make way for a new mixed-use community containing condos, retail and new park space. Jane Finch Mall is to be demolished and replaced by higher-density development near the Finch West LRT.
Cetana REIT's goal: Sustainable, affordable rental housing
Cetana Group’s newly launched REIT aims to develop climate-friendly rental housing across Canada that prioritizes cost and quick builds. It is beginning an open-ended fundraise targeting $8 million to $10 million for its first project.
Toronto unveils 'transformational' mass timber building
The City of Toronto unveiled designs for a mass timber, modular development proposed at Dundas Street West and Ossington Avenue that would see a 10-storey mass timber building and three-storey laneway housing on an adjacent parking lot.
GSL Group ramps up dev. plans for Kelowna properties
The next step in the evolution of Kelowna's Capri-Landmark neighbourhood has been proposed. GSL Group has submitted a development application to build a 23-storey tower atop a five-storey podium that includes above-ground parking and one level of below-grade parking.
Prairie real estate bouyed by major projects in 2024
Bright prospects for Alberta are setting the pace for Prairie real estate markets in 2024, as strong in-migration buoys the hopes of investors. Record in-migration is fuelling the Alberta economy, delivering workers to new major projects, spurring housing construction and demand for goods and services.
Two thousand public rental suites vacant in Manitoba
More than 2,000 publicly owned, subsidized rental units across Manitoba were vacant at the end of December, with advocates blaming measly repair budgets. As many as 1,090 Winnipeg-area apartments and 1,000 suites in other locations were vacant.
Cruise ship for Ukraine refugees now a hotel for B.C. workers
This week, an old cruise-ferry ship arrived at Seaspan’s shipyard in North Vancouver to begin work on the finishing touches of the vessel’s refit ahead of its use as a “floatel” — a floating hotel, specifically for the construction workers building the Woodfibre LNG plant.
Stat Can, Rentals.ca partner on Rental Market Industry Index
Rental listing platform Rentals.ca will be furnishing Statistics Canada with the data for a new rental housing index designed to be available to the public. The index will focus on current market rents, as opposed to average rents.
The Well is Toronto’s most important development in years
The Well is not a shopping mall. Or is it? Designed by a team including Hariri Pontarini, Urban Strategies and executive architects Adamson Associates, it comprises six residential towers, a 1.2-million-square-foot office tower and 420,000 square feet of retail.
Megaproject designer revisits Hudson Yards, Battery Park City
The vision for Battery Park City, the NYC neighbourhood on Lower Manhattan’s west side, once looked very different from what is there today. A 1969 master plan called for a colossal megastructure running the entire length of the area.
Paris CRE sales lowest since 2009
Investments in Paris commercial real estate continued to fall in Q4 2023, bringing yearly volumes to their lowest level since the global financial crisis. Total deals for properties including offices, retail space and warehouses in Paris sank 63% year-over-year.
Wealth manager Zhongzhi files for bankruptcy
Chinese wealth manager Zhongzhi Enterprise Group has filed for bankruptcy after failing to repay debt, as it grapples with a deepening property market downturn. The move adds to worries the property debt crisis is spilling over into the financial sector.
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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