Broccolini to develop its first Toronto condo tower

RENX  Residential  •  Condominiums, Office, Industrial  •  Greater Montreal, Toronto / GTA, Ottawa

Broccolini is marking its 10th year in Toronto by opening sales for its first residential development in the city, River & Fifth. “Launching a project is always exciting and challenging and makes you anxious,” said Broccolini COO Anthony Broccolini.

Interest is high in Vancouver hospital site: CBRE

Residential, Commercial  •  CityNews

CBRE, the company assigned to sell Vancouver’s St. Paul’s hospital site, says interest in the property has been strong. Tony Quattrin says bidding on the property is expected to begin this month. It’s expected the site will go to condo developers.

Multi-tower mixed-use proposed for Lansing Square

Residential, Commercial  •  Urban Toronto

A Lansing Square Redevelopment proposal from property owner ELAD Canada would bring four new condominium towers with heights of up to 40 storeys, five blocks of three-storey townhouses, and a 19-storey office tower designed by WZMH Architects.

Epic, MDC Group merge: $16.5B portfolio

RENX  Commercial  •  Office, Apartments, Industrial, Retail  •  National, International

Epic Investment Services and MDC Group  have merged, becoming a fully integrated real estate platform with a portfolio worth more than $16.5B, encompassing 35 million square feet of office, retail, industrial and residential assets under management in Canada and the U.S.

CPPIB expected to match OMERS’ Highway 407 bid

Commercial  •  Globe and Mail (Sub. required)  •  IPE Real Assets

The CPPIB and Spain’s largest construction company are expected to increase their stakes in Ontario’s Highway 407 by matching a $3.25-billion offer for SNC-Lavalin Group Inc.’s holding in the toll road, a move indicating the value of infrastructure to institutional investors.

The Apartment Building Expert › Canada’s 40 most expensive apartment building transactions

Derek Lobo: Founder and CEO , SVN Rock Advisors Inc.

Vertical factory transformed into museum HQ

Commercial  •  Globe and Mail

If there were some sort of organization for ugly-beautiful buildings, Toronto’s 158 Sterling Rd., built by the Northern Aluminum Company in 1919-20, would surely be a star. The new headquarters of the Museum of Contemporary Art (MOCA) is a ghastly eyesore, however.

Sale of 5,000 concrete Van. condo units postponed

Residential  •  Daily Hive  •  Vancouver Courier  •  Vancouver Sun

MLA Advisory’s April 2019 Pre-Sale Real Estate Insights states approximately 5,000 concrete units within 17 development projects in Metro Vancouver have postponed their sales launches and are instead opting to await for more favourable market conditions.

Royalmount 2.0 details will be unveiled in the fall

Residential, Commercial  •  La Presse  •  Canada Newswire

The promoters of Montreal’s controversial Royalmount 2.0 shopping centre and entertainment project are starting a round of consultations with the population with the aim of improving it by incorporating a residential component. The details will be revealed in the fall.

TransLink begins public consultations for 30-year plan

Commercial  •  CBC  •  Business In Vancouver

TransLink has launched the largest consultation campaign in its history, asking people who live and work in Metro Vancouver how they’d like to see the region’s transit system develop over the next 30 years.

Questrade acquires Mississauga’s Community Trust

Commercial  •  Globe and Mail (Subscription required)

Questrade Financial Group Inc. is stepping into the lending and deposit-taking business after acquiring Mississauga-based Community Trust Co. for an undisclosed amount. Community Trust specializes in commercial and retail mortgages.

REIT first-quarter financial results

Commercial  • 

Cominar REIT, (CUF-UN-T), Canada Newswire

Slate Office REIT, (SOT-UN-T), Business Wire

$100M lawsuit filed over Marriott data breach

Commercial  •  Edmonton Journal

The massive data hack of guest information from the Marriott hotel empire has triggered a $100-million class action lawsuit in Calgary. A statement of claim filed in Calgary Court of Queen’s Bench says the data breach was due to the lack of adequate security.

Is WeWork really worth nearly $50B?

Commercial  •  BBC

The We Company is a business that defies description, at least according to its co-founder and chief executive Adam Neumann. As it prepares for a stock market listing, the parent company of WeWork looks set to be valued at around $47 billion US.

HBC mulling sale of Lord & Taylor

Commercial  •  CBC

Hudson’s Bay Co. (HBC-T) is pursuing strategic alternatives for Lord & Taylor, including sale or merger. HBC says Lord & Taylor had $1.4B in revenue in 2018. It has more than 40 stores in the northeastern and mid-Atlantic U.S. as well as online business.

Six things to do to solve housing crisis

Residential  •  Huffington Post

Our housing affordability crisis isn’t just the result of some fleeting, easy-to-identify problems like foreign buyers flooding the market with cash or lenders handing out too much money — although that is part of it for sure.

Transit City Condos substantially sold out

Residential  •  Globe Newswire  •  RENX

SmartCentres REIT  (SRU-UN-T) and Mitchell Goldhar announced Transit City Condo Towers 4 & 5 in SmartCentres Place at the Vaughan Metropolitan Centre are substantially sold out. SmartCentres projects a return on costs in excess of 20% per cent.

Boomers are transforming the Toronto condo market

Residential  •  Windsor Star

Condos are no longer mere starter homes. Once the domain of twentysomething professionals on the first rung of the real estate ladder, baby boomers are now scooping up them up for their golden years — driving demand for luxury, turnkey developments.

Toronto sales and prices climb

Residential  •  CBC  •  Toronto Star  •  Bloomberg

The number of homes sold in Toronto climbed in April even as prices inched higher, signalling that homebuyers continue to compete for listings in an increasingly tightening housing market. There were 9,042 residential transactions in April, jumping 16.8 per cent year-over-year, according to the Toronto Real Estate Board.

Calgary at the low end of multiple Airbnb listings

Residential  •  CBC  •  CBC

As Calgary considers licensing fees that could apply to people who list multiple properties for short-term rent through services like Airbnb, an analysis of the popular website’s listings shows most people who use the service in this city are still advertising only a single home.