Edmonton’s multires metrics heading in right direction

RENX  Residential  •  Apartments, Condominiums  •  Edmonton

Edmonton remains one of Canada’s most affordable multresidential markets for both renters and investors, attendees heard at the virtual Edmonton 2021 Real Estate Forum. The sector has weathered the pandemic well, despite low immigration and postsecondary schools moving to online education.

Toronto site of cancelled Icona condos for sale

Residential  •  Toronto Star

Gupta Group, which twice planned to build condos at the Vaughan Metropolitan Centre, has put the three acres at Highway 7 West and Edgeley Boulevard up for sale for an undisclosed price. The property is owned by 1966711 Ontario Inc.

NorthWest confirms $2.43B bid for Australian Unity

RENX  Commercial  •  Office, Infrastructure  •  International

NorthWest Healthcare Properties REIT (NWH-UN-T) has completed its acquisition of a 5.1 per cent interest in Australian Unity Healthcare Property Trust and confirmed its latest offer to fully acquire the trust in a transaction that values it at $2.43 billion Cdn.

Oxford buys U.K. office, continues life sciences growth

RENX  Commercial  •  Office  •  International

Oxford Properties Group has made its first life sciences acquisition in the UK as part of its plan to build a multi-billion-dollar portfolio in the sector. Oxford paid $77.2 million to buy 310 Cambridge Science Park, in the city of Cambridge.

North Van. industrial sale sets per-acre record

Commercial  •  Western Investor

In the largest industrial transaction on the North Shore this year, a 2.79-acre site with four contiguous buildings of approximately 110,009 square feet has sold for $44 million in North Vancouver City. The $15.7 million per acre set a Metro Vancouver industrial record.

Ottawa receives two more warehouse proposals

Commercial  •  CBC

Two development applications have recently been submitted to the City of Ottawa for sites on Boundary Road in the rural east: a 64,000-square-foot warehouse proposed by New Brunswick-based Day and Ross and a nearly-650,000-square-foot warehouse by Ottawa’s Avenue 31.

Calgary’s Aviation Crossing fully leased, for sale

Commercial  •  Calgary Herald

Atlas Development‘s 11.5-acre Aviation Crossing is 100 per cent leased and will soon be built out. Atlas has contracted Jason Cottle and Tosh Findlay of RBC Capital Markets to present the Calgary property to real estate investors.

Vancouver plan calls for four towers

Residential  •  urbanYVR

The City of Vancouver has posted the rezoning application for the removal of the circular ramps connecting to the Granville Bridge and the creation of four separate development parcels: two 40-storey strata condominium towers and two 27-storey mixed-use towers.

Burnaby-Coquitlam steps into CRE spotlight

Commercial  •  Western Investor

With a monthly average of $64 million worth of construction this year, neighbouring Metro Vancouver suburban municipalities Burnaby and Coquitlam are on pace to challenge the $1 billion-plus in permits issued in 2020. Commercial construction accounted for the largest slice of the action.

The Saskatchewan Edge › Losses mount, so Prairieland Park to repurpose Marquis Downs site

Kelly Macsymic: Business Manager, Stuart Commercial Inc., Sales Associate, ICR Commercial Real Estate

Hyatt Place Ottawa West open for business

Commercial  •  Ottawa Business Journal

The Hyatt Place Ottawa West opened its doors to customers Thursday ​– a debut that happened without any of the fanfare and fancy ribbon cuttings that typically mark such occasions. The hotel industry is going through one of its toughest periods ever.

Guelph approves Pinemount/Harbour six-storey multires

Residential  •  Business Wire

Pinemount Developments Ltd. and Harbour Equity Capital Corp. announced  Guelph City Council unanimously approved the redevelopment of the property located at 166-178 College Ave. W. into a six-storey 110-unit multifamily residential building with ground-floor seniors/day care centre.

Brookfield to spend $1.469B on London offices: Report

Commercial  •  Bloomberg  •  RENX

Brookfield Asset Management (BAM-A-T) is set to buy two properties in and around the City of London, the Times reported. Plantation Place, an 18-storey building, is being sold for $1.1 billion Cdn and Milton Gate, a glass-fronted office block, for $369 million.

Most tenants to return to office by September: SL Green

Commercial  •  Motley Fool

Chairman and CEO Marc Holliday recently announced most of SL Green Realty‘s (SLG-N) tenants plan to return to the office between June and September. And that could boost revenue for Manhattan’s largest office landlords in a very meaningful way.

Amazon leads tech invasion of Singapore offices

Commercial  •  Bloomberg

In the financial mecca of Singapore, a new crowd is flocking to its offices: technology companies. Exemplifying the trend, Amazon.com Inc. recently leased space in Asia Square Tower 1, while ByteDance Ltd. secured floors in the landmark One Raffles Quay.

Top 5 markets for U.S. industrial transactions

Commercial  •  CP Executive  •  Bisnow

Although many other commercial sectors faced significant challenges during the past year, the sweeping shift to e-commerce and the subsequent uptick in shipping volumes have provided strong tailwinds for the U.S. industrial sector, lifting rents and dropping vacancies.

Condo fees rising in Quebec

Residential  •  La Presse

Since the adoption of Bills 141 and 16, many Quebec condo owners have had to dig deeper for the management of their building. As the deadlines arrive to comply with the new provisions, reactions oscillate between grudge and resignation.

Modern Van. treasures find a premium market niche

Residential  •  Globe and Mail (Sub. required)

Trent Rodney had been selling luxury big box mansions, as he calls them, when he discovered the one-storey post-and-beam Watt’s Residence, built by architect Fred Hollingsworth in 1951. “It was just so cool, so different,” Rodney says.

Owning a cottage is becoming a pipe dream

Residential  •  Financial Post  •  Financial Post  •  Toronto Star

The mayor of the Township of Muskoka Lakes, Ont., one of the country’s most popular summer retreats, said the property market in his town has become unsustainable after prices surged more than 70 per cent in the last year.

Winnipeg’s booming housing market could be here to stay

Residential  •  Global News

April marked the first time in Multiple Listing Service (MLS) history Winnipeg sales climbed over 2,000. According to Peter Squire from the Winnipeg Regional Real Estate board, May was the same.