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Bluebird fund buys self-storage locations in GTA, Calgary
Bluebird fund buys self-storage locations in GTA, Calgary
The ICM Bluebird Canadian Self Storage Fund has purchased facilities in the Greater Toronto Area and Calgary for more than $60 million. The acquisitions are the fund's ninth and 10th since its inception in early 2023.
 | CRE Data Deep Dive In adopting technology, building managers need to know reality, not perceptionsSarah SegalCEO and co-founder, simplydbs |
Real estate bets gone wrong roil $1.24T Canadian funds
Almost no major Canadian pension manager has been spared. The largest fund, Canada Pension Plan Investment Board, lost five per cent on its property portfolio in its last fiscal year as the commercial real estate slump deepened.
StorageVault to acquire two locations for $59.5M
StorageVault announced today it has agreed to buy two locations from two arm’s length vendor groups for an aggregate price of $59.5 million. The locations are in the Greater Toronto Area and Surrey, B.C.
Fiera mgmt. takes control in $53M buyout of Desjardins' stake
Montreal-based Fiera Capital Corp.’s (FSZ-T) founder and his top managers solidified their control over the Canadian asset manager, striking a deal to buy out top investor Desjardins Financial Holding Inc., that was looking to exit its holding.
Some big T.O. developers are on board with ‘Housing Now’
Toronto’s dedicated housing agency, CreateTO, released an update on the ‘Housing Now’ initiative, and there are some major names in development bringing these projects to fruition. Among them are KingSett Capital, Greenwin, Tridel, Kilmer-Tricon, Ellis Don and Windmill.
REstack expands into U.S., merges with Point Advisors
Canadian real estate services firm REstack Advisors Inc. has expanded into the U.S. by merging with Point Advisors, a company with presence in both New York and Los Angeles.
CAPREIT completes sale of remaining equity in IRES
Canadian Apartment Properties Real Estate Investment Trust (CAR.UN-T) has closed the sale of its remaining interest in Irish Residential Properties REIT plc. During Q1, CAPREIT sold IRES shares for aggregate proceeds of approximately $58 million.
BoC could cut interest rates in July if inflation keeps cooling
Economists are forecasting inflation slowed further in May, which would be welcome progress for the Bank of Canada after it cut its key lending rate for the first time in four years.
Pro Hockey Life expands in Ontario with 4 new mega-stores
Pro Hockey Life, the hockey mega-store, has opened four new stores in Ontario – Sudbury, Barrie, Kingston and London. Each features an open and easy-to-navigate layout with enhanced in-store services to help players find and test gear.
Why so many U.S. fast food chains are charging into Canada
Shake Shack opened its first Canadian location in Toronto last week, with plans for 34 more restaurants by 2035. Sandwich shops Jimmy John’s and Jersey Mike’s are also among the American chains with sights set on the Canadian market.
Attracting big grocery, indoor farming takes off in N.B.
Inside a shuttered grocery store in the community of Blacks Harbour, about 70 kilometres west of Saint John, leafy kale, lettuce and herbs sprout from towers that, at eight feet in height, resemble strange trees from a dystopian forest.
Canadian billionaire businessman James K. Irving dies at 96
The family of Canadian billionaire businessman James K. Irving announced his death at the age of 96, just over a month after the death of his younger brother, Arthur. Forbes Magazine listed James Irving as being worth $5.9 billion.
Rent hikes near campuses outpacing other areas of cities
Relentless rent increases have made finding housing a difficult part of the decision to move away for school. As housing supply struggles to meet demand, students have to contend with fraught housing conditions near campuses.
New Gatineau hospital to be built on Asticou Centre site
The Asticou Centre, a federal government complex, will soon be the site of a new Gatineau hospital. The 600-bed hospital project is expected to be completed by 2034, two years later than the provincial government’s original target.
Starlight acquires 232-suite build-to-rent community in U.K.
Toronto-based Starlight Investments, a global real estate investment and asset management firm, has acquired a seven-building, master-planned, build-to-rent community under development in Dartford, Kent, from Bellway London.
The $2T wall of maturities is being climbed behind closed doors
With a record $2.2T in commercial real estate loans coming due by 2028, nearly $1T expected to mature this year, there had been some expectations among investors that a wave of distressed assets would hit the market.
Massachusetts is trying to prevent REITs from owning hospitals
The collapse of Steward Health Care System has Massachusetts lawmakers pointing fingers at the hospital operator’s landlord and other companies like it. Real estate experts say their proposed fixes miss the mark.
Kaisa avoids liquidation for now but restructuring plan needed
A Hong Kong court has given Chinese developer Kaisa Group Holdings Ltd. seven more weeks to work on its debt restructuring plan in order to avoid being liquidated, but also warned this might be the company’s last chance.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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