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First Capital, CPPIB to develop Toronto Christie property
First Capital, CPPIB to develop Toronto Christie property
First Capital Realty Inc. (FCR-T) has submitted an official plan application to the City of Toronto for its 28-acre property at 2150 Lake Shore Blvd. W., the so-called Christie property. First Capital and CPPIB paid $52 million for the site in 2016.
WeWork woes force landlords to make backup plans
• Globe and Mail (Sub. required) • Financial Post • The Guardian
Canadian landlords who lease to WeWork or have been negotiating with the company are starting to make contingency plans as the indebted co-working giant races to slash costs and restructure its business after a failed IPO.
Burnaby to overhaul mall into walkable city centre
• Globe and Mail • Burnaby Now • RENX
Burnaby, the huge city that is about four-fifths the geographic size of neighbouring Vancouver, has been for decades a place with three large malls surrounded by some apartments and no discernible centre. That’s set to change in the coming years.
Deliveries up, Vancouver industrial space still critical: JLL
Industrial building deliveries surpass three million square feet in Metro Vancouver this year, but vacancy remains critically low at 1.9 per cent, according to JLL’s Industrial Insight. E-commerce, food production, distribution, and film company demands make available industrial space scarce.
70-storey condo tower proposed for Bell Trinity Square
Northam Realty Advisors has submitted an application for rezoning to permit a condominium tower at 483 Bay St. Designed by IBI Group, the tower would top out at 70 storeys and 744 feet in height, and would contain 590 condominium units.
Deadline looms for Sidewalk Labs, Waterfront Toronto
Torontonians will learn within a week whether a massive proposal by Sidewalk Labs and Waterfront Toronto to turn a section of the city’s waterfront into a tech-driven neighbourhood is moving ahead or dead in the water.
Ottawa CRE adopts concierge approach
New tenant services such as pet grooming, vehicle maintenance and parcel storage are popping up in Ottawa office buildings, giving landlords a new tool to market their properties. So-called “concierge” offerings go beyond traditional amenities such as coffee shops.
Paradigm hoping to give ByWard Market new life
Back when she was employed at a ByWard Market nightclub in the early 2000s, new Paradigm Properties owner/CEO Ashley Hopkins and her co-workers would pass the time by dreaming up ways of making the tourist mecca more lively.
OSEG wants to take over city-run side of Lansdowne
Ottawa Sports and Entertainment Group has made a pitch to expand its role at Lansdowne and take over the city-run urban park, but the local councillor – Shawn Menard – fears public space will be commercialized if that happens.
First Tower shows there’s life in Calgary’s core
National and international companies still have the confidence to invest in Calgary, presenting opportunities to show attractive spaces to prospective tenants. JLL’s Warren Libert-Scott is leading his team of downtown specialists in presenting the re-developed First Tower for Hines.
New hotel, renos spiff up Winnipeg’s hospitality scene
Revamped restaurant, bar and gaming spaces at the Norwood Hotel in St. Boniface should be ready to open by the end of October, according to Sparrow Hotels CEO Ben Sparrow.
Final piece of toppled Halifax crane removed
• CBC
The final piece of a crane that toppled onto a building under construction in downtown Halifax during last month’s post-tropical storm was removed on Saturday. However, it will take a few more days to clear debris from the site.
RBI sales miss estimates as Tim Hortons disappoints
• Reuters • Canada Newswire • Financial Post
Restaurant Brands International Inc. (QSR-T) missed estimates for quarterly revenue on Monday as its biggest chain Tim Hortons reported a surprise fall in comparable sales, overshadowing strong performances at Burger King and Popeyes.
Prologis to acquire Liberty Property Trust for $12.6B
• Globe Newswire • CP Executive • IPE Real Assets
Prologis, Inc. (PLD-N) and Liberty Property Trust (LPT-N) today announced a definitive merger agreement by which Prologis will acquire Liberty in an all-stock transaction, valued at approximately $12.6 billion, including the assumption of debt.
$1.5B Guitar Hotel expansion opens in Florida
The iconic Guitar Hotel at Seminole Hard Rock Hotel & Casino has officially opened as part of a $1.5-billion expansion. Complementing the Guitar Hotel are a Hard Rock Live performance venue and an expanded casino with 195,000 square feet of gaming space.
Hong Kong parking space nearly $1M US
• CTV
Hong Kong might be heading for recession after months of violent protests but that hasn’t stopped one businessman from forking out almost US$1 million for a parking spot.
Real Matters shares triple on U.S. mortgage strength
• Globe and Mail (Sub. required)
Falling interest rates are fuelling a sharp rebound in shares of Markham-based company Real Matters Inc. (REAL-T), helping it shake off a harsh slump following its IPO. After closing at $11.28 on Friday, the shares are finally approaching their $13 IPO price.
Urbanfund acquires 20% stake in N.S. apartments
Urbanfund Corp. (UFC-X) has entered into a binding agreement along with Westdale Construction Limited to purchase a 20 per cent interest in the 145-unit Bellbrook and Regal Luxury Apartment portfolio in Dartmouth, N.S. Bellbrook Residential will be purchasing the asset for $33,350,000.
B.C. court turfs foreign buyers tax lawsuit
A British Columbia Supreme Court judge has dismissed a lawsuit claiming the province’s foreign-buyers tax is unconstitutional and discriminates against people from Asia. A previous B.C. Liberal government introduced a 15 per cent tax in 2016.
Minto Communities named Production Builder of the Year
Minto Communities Ottawa received four awards at the Greater Ottawa Home Builders’ Association’s 36th Annual Design Awards Gala, including Production Builder of the Year and three individual awards for the 2018 Minto Dream Home, for CHEO’s Dream of a Lifetime Lottery.
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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