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Northwest cuts distributions, faces activist investor
Northwest cuts distributions, faces activist investor
Northwest Healthcare Properties REIT (NWH.UN-T) has cut its distributions by more than half, is considering acquisition offers for its U.S. and Brazilian assets, and is under public pressure from a minority investor interested in acquiring its U.K. holdings.
Pinemount, Elysium JV, plan to redevelop Toronto strip mall
Pinemount Developments Ltd. and Elysium Investments are planning a mixed-use condominium development for a 1.78-acre site at 3406-3434 Weston Rd. in Toronto they acquired for $19.8 million through a receivership sale.
CBC's CRE portfolio valued at $444M: Documents
The CBC owns $444,414,469 in real estate holdings, according to recently released documents, with more than two-thirds of the value comprised of its expansive downtown Toronto broadcasting centre. The documents list 12 corporation-owned properties across the country.
Conestoga purchases two buildings for student housing
Conestoga College has purchased five- and 12-storey buildings in Waterloo region that will help house its students. The five-storey was previously a student residence leased by Wilfrid Laurier University. The other is a vacant office building to be converted.
Housing crisis pushes economy into recession: Report
The long-anticipated, but delayed, recession on the Canadian economy has finally arrived, according to a new report by Oxford Economics. Highly indebted households and overvalued home prices are the driving factors leading to a pullback in consumer spending.
Steelix proposes 22-storey mixed-use in Surrey
Steelix Developments is proposing to redevelop The Taphouse restaurant and its surface parking lot in Surrey’s Guildford area into a 22-storey mixed-use with 296 condominium homes, including 28 three-bedroom units, and 8,300 square feet of retail/restaurant space.
Zoning restrictions a problem for CRE and housing
OPINION: Hundreds of zoning restrictions prevent firms from converting commercial offices into mixed-use facilities or residential units, despite the urgent demand for such spaces. Unzoning, or rezoning, these commercial swaths could be one way local governments help the industry survive.
Developer warns against Ottawa ‘blanket policies’ for dev.
Theberge Homes, which wants to build three residential high-rises near the Central Experimental Farm said Ottawa should continue to consider proposals in the area on a case-by-case basis as community groups and federal officials raise concerns about shadowing.
Gas stations deserting the heart of Montreal
Dozens of gas stations have closed in recent years in Montreal, the start of a wave that is unlikely to stop. For the metropolis, the stakes are high: will these lands – often contaminated, but very well-located – be abandoned or redeveloped?
1 dead after partial collapse at Mtl. mixed-use building
One man is dead and two were injured after a building partially collapsed in Montréal-Nord on Saturday. Firefighters said renovation work was underway on the mixed-use building, which includes ground-floor commercial space and apartments on the upper two levels.
Convertus plans Ontario organic waste processing site
Convertus Group, a London, Ont.-based organic waste processor, plans to build a facility in York Region expected to be its next flagship site. Convertus has signed a 20-year, $490-million contract with York Region.
B.C. plans development program for middle-income residents
B.C. is planning its own program to build housing for middle-income residents, a response to the escalating housing crisis in the province and a rare move for a government because they tend to focus on affordable housing for lower-income residents.
Bertone launches construction of 225-unit Kalm
Bertone Development Corporation recently launched construction of Kalm, a 225-unit rental real estate project located a stone's throw from the Candiac train station in Montreal. The first units in the eight-storey building are scheduled for delivery in 2025.
Ontario won't revisit decision to expand Hamilton boundary
The Ontario government says it will not revisit its controversial decision to expand Hamilton's urban boundary to include land owned by well-connected developers at the same time it announced it would be removing land from the Greenbelt.
Nearly 11 months to obtain a Van. building permit
Obtaining a building permit for a duplex home in 2023 is taking a median of 325.5 days, according to a City of Vancouver open data portal measurement based on 128 building permits issued in the low-density new build category.
Swedish bldg. owner gets $720M Brookfield-led injection
Struggling Swedish property owner SBB took a major step toward stabilizing its finances with a cash injection from Brookfield Asset Management and a plan to divide its operations, sending a signal money is available despite the country’s real estate crisis.
Estes has winning bid for Yellow Truck terminal portfolio
The bidding war for Yellow Corp.’s (YELLQ) highly sought-after truck terminals has ended with Estes Express Lines’ stalking horse offer winning. Estes' $1.525 billion bid, offered last week, bested Old Dominion Freight Line’s $1.5 billion offer.
Despite outperforming sector, SL Green stock heavily shorted
Shares of SL Green (SLG-N) are performing better than the rest of the sector. However, that hasn’t stopped investors from selling its stocks short. REIT shares are down roughly 19% this year, while SL Green’s are up by 11%.
Evergrande shares plummet as much as 24%
Shares of China Evergrande plunged as much as 24% Monday after the embattled developer said it was unable to issue new debt due to an ongoing investigation into one of its subsidiaries, dealing a fresh blow to its restructuring plans.
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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