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Tribe merges worlds of property management, proptech
Tribe merges worlds of property management, proptech
Joseph Nakhla founded a software company in 2012, moved into property technology and most recently has also entered the world of property management. His uncommon business model has paid off.
Crestpoint buys Ottawa industrial buildings for $50M
Toronto-based Crestpoint Real Estate Investments purchased four class-A industrial buildings in Ottawa totalling about 220,000 square feet, all leased to single tenants, for more than $50-million from Ottawa’s Huntington Properties earlier this month growing the company’s CRE presence in the city.
CAPREIT pays $159M for 50% interest in 787 GTA apts.
CAPREIT (CAR.UN-T) has acquired the remaining 50 per cent interest in a portfolio of 787 apartments and townhouses in the Greater Toronto Area which it previously held as part of a joint venture.
Walmart to bolster e-commerce in Canada: Interview
Retail giant Walmart Canada is planning to win in the ecommerce space by being agile, fast, and customer-focused, as the retailer continues to pivot and invest in technology for its omnichannel network according to Laurent Duray, SVP eCommerce, Walmart Canada.
New Toronto Harbour apt. proposed on existing podium
Pacific Reach has filed planning applications with the City of Toronto for a third 21-storey tower containing 239 new purpose-built rental residential units on Queens Quay West. The plan proposes to redevelop an existing podium with two towers on Toronto Harbour.
Plans for 49-storey tower for Toronto’s downtown east
The latest proposal for Toronto’s downtown east is from NJS Capital which seeks to build a 49-storey residential tower at 383 Sherbourne Street, just north of Carlton Street, continuing the height peak creep eastward as new high-rises replace low-profile buildings.
Google extends voluntary return to office to January
Google is extending its voluntary return-to-office policy past January 1, 2022, CEO Sundar Pichai said, citing uncertainty caused by the pandemic in many parts of the world. The highly contagious Delta coronavirus is also causing businesses to reconsider mask and vaccination policies.
Accounting firms requiring vaccination for office staff
At least three of the Big Four accounting firms in Canada are requiring employees to be fully vaccinated against COVID-19 to return to the office including Ernst & Young LLP, KPMG LLP and PricewaterhouseCoopers LLP. Deloitte LLP did not respond.
Allied closes on office portion of Montreal’s Gare Viger
• Globe Newswire • RENX
Allied Properties REIT (AP-UN-T) has completed the previously announced acquisition of Gare Viger (also known as The Chateau) and the adjacent developable land, representing the existing urban office component of Jesta Group’s Place Gare Viger in Montréal.
B.C.’s CRE market an “abnormal and uncertain”
• Western Investor • Business in Vancouver
The BCREA Commercial Leading Indicator rose from 150 to 155 in Q2 2021, representing the fourth consecutive quarterly increase indicating Metro Vancouver’s CRE sector should experience a full-press recovery. But the reality on the street paints a different scenario.
Canada’s economy posts surprise Q2 contraction
• Globe and Mail • CBC • Bloomberg
The Canadian economy suffered a shock contraction in the second quarter casting a shadow over the economic recovery process. Global supply-chain disruptions, key materials shortages, surging freight rates and delays in container ship unloading are cited as the causes.
Seven out of 10 SMEs indebted by COVID-19
Seven out of 10 small and medium enterprises (SMEs) have an average debt of nearly $ 170,000 due to COVID-19. That climbs to $ 333,174 in the accommodation and food service industries, according to a report by the Canadian Federation of Independent Business.
Nicola Wealth acquires another U.S. industrial asset
Nicola Wealth Real Estate (NWRE) has acquired the Ampac Industrial Park I & II in Las Vegas. The acquisition comprises seven small- to medium-bay modern industrial buildings totalling 175,818 sq. ft. on 17 acres – with four acres of surplus land.
CP Rail reaffirms US$27.2B offer for K.C. Southern
One day after a U.S. regulator issued a ruling casting doubt on rival Canadian National Railway’s bid, Canadian Pacific Railway reaffirmed its US$27.2-billion offer for Kansas City Southern with a Sept. 12 deadline to accept the deal.
World’s largest life science campus launched in Texas
Texas Medical Center (TMC) has launched a 37-acre life science campus designed to unite the best minds in medicine and commercialization. Construction has begun on Phase One, which is backed by $1.8 billion in financing and property development teams.
Hurricane Ida causes over $15 billion in insured losses
Powerful storm surges caused by hurricane Ida could cause billions of dollars in insured losses across Louisiana, Alabama and Mississippi, firms estimate. Wells Fargo and Fitch Ratings analysts both have estimated the damages could total US$15 billion to $20 billion.
57% of young Canadians say housing will impact vote
A new Royal LePage survey reports a whopping 57 per cent of those aged 18-34 said a candidate’s position on tackling the housing affordability crisis would influence their vote in the upcoming federal election.
Making homes more resistant to wildfires
• CBC
FireSmart B.C. recommends maintaining a 1.5-metre, non-combustible zone around your entire home. This means having a surface of soil, rock, or stone, with no plants, debris, or other flammable materials and investing in fire-resilient plants.
Vaccination required at Ont. theatres, gyms, restaurants
• CTV News
Proof of vaccination will be required in Ontario to access non-essential businesses including gyms, indoor restaurants, movie theatres, concerts and organized large gatherings starting Sept. 22. It will not be required for retail shopping or outdoor patios.
Retailers count on back-to-school shopping
Retailers are banking on a robust back-to-school shopping season as students prepare to return to in-classroom learning. “For many retailers, back to school is a critical period second only to Christmas,” said Retail Council of Canada spokeswoman Michelle Wasylyshen.
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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