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REIT prospects are improving, but could still be better

1 month ago

REIT prospects are improving, but could still be better

More capital is expected to flow into REITs in coming months, but it’s likely to be a gradual increase and not a flood. The overall situation is "less bad" than in recent years, one portfolio manager told RealREIT attendees.

New offices complete Canada ICI's coast-to-coast network

Commercial real estate finance firm Canada ICI Capital Corporation has solidified its presence as a coast-to-coast firm by opening new offices in Halifax and Victoria.

Canadians should brace for recession, Stephen Poloz says

Former Bank of Canada governor Stephen Poloz sees recession conditions in many parts of the economy, as growth fails to keep pace with an increasing population. The economy is also entering the "most stressful" leg of the mortgage renewal cycle.

Canada, the world wait in anticipation of the Fed decision

The world’s most powerful central bank is poised to cut its interest rate Wednesday, and rarely has there been so much suspense about the outcome. Whatever the Fed decides it will affect Canada.

Employers taking a harder line on returning to the office

Financial services firms, the federal government and other employers are increasingly taking a harder line on remote work and some are threatening to discipline or terminate employees if they refuse to follow new mandates.

Gay Lea Foods to relocate head office to Etobicoke in 2025

Gay Lea Foods has announced plans to relocate its head office to 10 Carlson Crt. in Etobicoke next summer from its current Mississauaga location. The new 20,000 sq. ft. office space will accommodate over 200 employees.

Downtown Windsor Business Accelerator building to be sold

The Downtown Windsor Business Accelerator, which helped launch area businesses for over 10 years, has closed and been put into receivership and its former 55,000-sq.-ft. building - valued at $3.52 million in 2023 - is to be sold. 

Empire CEO Medline talks expansion plans

Sobeys parent company Empire Co. Ltd. is leaning into its strengths as a primarily full-service grocer as its competitors bet on discount. But the food retailer isn’t counting out its low-cost FreshCo banner.

Historic Edmonton school to be rezoned for retail, residential

Beljan Development has big plans for a property that contains the first Catholic school ever built on Edmonton's south side. The company is looking at placing new commercial retail tenants in the building, parts of which were built 118 years ago.

Rapid development is taking place on Winnipeg's outskirts

Oak Bluff in the northeast corner of the Rural Municipality of Macdonald is booming in industrial and residential growth - along with other municipalities on Winnipeg’s western border. Rosser, home of CentrePort, and Headingley, have also seen similar growth.

Westboro Village in Ottawa booms with new development

Westboro Village in Ottawa is rapidly growing with new mixed-use buildings, residents and new businesses opening. Judy LincoIn, the executive director of Westboro Villa Business Improvement Area, discusses the neighbourhood, new developments and future plans. 

Penticton B.C. council approves three development projects

Penticton city council has green-lit three developments. Council approved permits for: two buildings at 1704 Government St., the site of a planned six-storey mass timber office building and another six-storey, 127-unit apartment building; and two housing projects. 

B.C. buys 3 rental properties to thwart 'speculators, profiteers’

The B.C. government announced Friday three rental properties in Vancouver, Burnaby and Maple Ridge will be protected from “housing speculators and profiteers” after it unlocked approximately $30 million to help non-profits acquire the 147 units.

39-storey mixed-use tower planned at TO's Bathurst and Finch

A 39-storey mixed-use development offering 491 residential units and a daycare could be headed for west Willowdale, according to plans from Density Group Limited. If approved, the development would replace a surface parking lot and a two-storey plaza.

BILD: Lower interest rates will not 'fix' the housing crisis

Underlying structural problems that are driving the current housing crisis remain unresolved. BILD data on new home sales in the Greater Toronto Area for July showed new home sales have continued to decrease.

Landlords face $1.5T in loan maturities by end of 2025: JLL

U.S. landlords face a major wall of maturities in the coming year, with multifamily buildings at the forefront. Commercial real estate landlords are estimated to have $1.5T of debt due by the end of 2025, according to JLL.

Transamerica Pyramid reopens following $400M makeover

Transamerica Pyramid Center, which has provided a distinctive pyramid shape to the San Francisco skyline for more than 50 years, has reopened as part of a $400 million renovation by owner SHVO and Deutsche Finance

Carlyle buys stake in real estate-finance firm North Bridge

Carlyle is buying a minority stake in North Bridge ESG LLC, a firm that offers private credit lending to landlords for clean energy projects. The investment firm is committing up to $1 billion to help North Bridge make loans.

Securing wins, prepping for success: CRE leaders navigate turbulence

It has been a difficult few years for commercial real estate investors and developers as high interest rates, office vacancies and a fluctuating market continue to take their toll on the industry. In 2024, however, things have been looking up. 

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