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True North suspends distributions, focuses on share buybacks
True North suspends distributions, plans share buybacks
True North Commercial REIT (TNT.UN-T) is temporarily ceasing distributions to unitholders to use those funds to buy back its shares, and will consolidate its units on a 5.75:1 basis, the trust announced this week in its Q3 financial report.
Canada's year in proptech: 50 startups, $1.5B in new funding
Canada’s property technology (proptech) industry continues to flourish despite experiencing some of the same challenges faced by other segments of the Canadian real estate and tech markets.
Harrison Street buys 2 Kingston student housing properties
Harrison Street, a Chicago-headquartered alternative real estate investment firm with an interest in Canadian student housing, has acquired two properties in Kingston which serve students of Queen’s University.
Hazelview Investments halts redemptions on $1.4-billion fund
Hazelview Investments has halted redemptions on its $1.4-billion Four Quadrant fund, a move that prevents its retail investors from cashing out, even as Hazelview’s new private equity backer earns a fixed 7.95-per-cent annual return.
Winnipeg Exchange District plan calls for 15,000 residents
A long-term development strategy for Winnipeg's Exchange District calls for public and private investments that will increase the population of the downtown neighbourhood and several adjacent areas by 15,000 people over 20 years, and 25,000 by the 2040s.
T.O.'s Fairmont Royal York a certified Zero-Carbon Building
Toronto’s historic Fairmont Royal York hotel has been certified a Zero Carbon Building – Performance Standard by the Canada Green Building Council (CAGBC), recognizing years of effort by its owner to eliminate most of the building’s carbon emissions.
 | Colliers Canada REMS Changes to Canada's office market require new strategies for ownersColliers Real Estate Management Services launches Office 2.0 to reinvigorate workspaces and buildings with customized strategies. Sponsored by: Colliers Canada REMS |
2 Vancouver districts approved for no-parking-required dev.
New developments in two Vancouver districts, in the West End and the area around the Broadway Plan, will no longer require a minimum number of parking spaces as of Jan. 1, city council decided in a unanimous vote.
500 housing units proposed at Victoria cathedral property
Victoria's Christ Church Cathedral could host up to 500 residential units in six buildings on the 1.4 hectare site where the nearly 94-year-old edifice is located, if the church's multi-year redevelopment proposal receives city council approval in 2024.
870-unit Fredericton development gets green light
A 870-unit development in Fredericton has been given the green light by council after a months-long approval process. Cedar Valley Investments, led by president Louie Youssef, purchased the vacant 35-acre parcel last spring for $6 million.
1970s-era office tower conversion to rental apts. in Halifax
A Halifax developer says his company's plan to convert a 1970s-era office tower into residential units is on schedule for tenant occupancy in two years. Elliot MacNeil of Sidewalk Real Estate Development acquired the Centennial building in August of 2021.
Halifax developer appeals order on former school site
The site of the former Bloomfield School in Halifax, now owned by developer Alex Halef of BANC Investments Ltd., was described as an "immediate safety risk" in an inspection by Halifax Regional Fire and Emergency's Dustin Garnett last month.
Loblaw reports jump in profits amid scrutiny over pricing
Loblaw Companies Ltd., Canada’s largest grocer, reported a 12 per cent jump in profits in its latest quarterly update amid heightened scrutiny around whether big grocers are doing enough to tame inflation, and as President Galen Weston steps aside.
Walmart cautions on consumer spending ahead of holidays
Walmart shares fell 7% following its annual sales and profit forecast this week when executives cautioned investors about holiday season sales. Executive comments follow on October reports about a slowdown in purchases by shoppers.
Canada’s economy lacks land for industrial use: Giles Gerson
OPINION: Giles Gerson, CEO, Toronto Region Board of Trade writes that the region stands at the edge of two crises: first, the housing crisis; and second a shortage of space for manufacturing, logistics and related industries.
U.S. office usage reaches highest mark since March 2020
Office usage hit its highest level last week since the start of the pandemic, registering 50.5% across the 10 cities tracked in Kastle Systems’ Back to Work Barometer. Chicago rose to 55%, San Francisco to 44% and NYC to 50.5%.
A deep dive Into hotel-branded residences’ growing popularity
According to JLL analysis, developers and investors looking to expand their businesses into branded residences have been increasingly focused on standalone branded residential projects, rather than the typical residence and hotel mixed-use, due to the financial benefits delivered to stakeholders.
The hottest U.S. neighbourhoods for new apartments
About 1.2 million rental units came online across major U.S. cities since 2018. A report from Yardi's RentCafe looked at the 50 largest metros, ranking zip codes based on how many units were added over the past five years.
Top 5 U.S. universities for student housing development
As of September, over 186,000 bedrooms were in various stages of development across Yardi 200 schools, including 80,318 bedrooms under construction. Unlike other asset classes, student housing development stood strong in 2023, with multiple large projects breaking ground nationally.
The reckoning for rent-stabilized NYC apartment owners
A crisis has been slowly brewing for owners of the million rent-stabilized apartments across New York City. Delinquency rates for loans backed by rent-stabilized buildings are rising, some rent-stabilized portfolios have traded for huge discounts, and some face foreclosures.
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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