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4 Canadian flex office firms team up to take on industry giants
4 Canadian flex office firms team up to take on industry giants
ClickSpace, Lauft, Werklab and CoWork Halifax have launched a network of 11 flexible workspaces in Montreal, the Greater Toronto Area, Vancouver and Halifax and they expect to add more local operators in more locations.
CAPREIT acquires $387.4M of new apartment buildings
Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) has unveiled six acquisitions of apartment buildings and three non-core property divestments totalling $477 million in transactions, a move aligned with its ongoing portfolio modernization strategy.
Richmond, B.C. hotel, condo development put on ice
Dava Developments has put a high-rise and hotel project in the Capstan area on hold. Rezoning of properties on Patterson Road was rescinded after the developer said it could not meet a July 17 deadline for finalization.
Ontario developer coalition asks for tax breaks to help buyers
A coalition of Ontario developers has written to three levels of government to ask for a reduction in taxes on new housing, saying it will pass on those savings dollar for dollar to homebuyers.
One Roxborough West targets high-end TO condo buyers
The high-net-worth homebuyer market in Toronto, Canada's economic engine, is significant but largely underserved in the city’s preconstruction condo market. Developer North Drive has, however, taken note and carved a niche within the sector in Southern Ontario’s crowded building industry.
Building sales, lease renewals threaten Toronto retailers
The Ginjos knew rent on their tiny bakery and pie shop would go up. But the sticker shock was worse than expected. The building’s longtime owner had sold in June. Their new landlord asked for more than double the rent.
UNIQLO set to open another store in Langley this fall
Japanese retailer UNIQLO will open a new store in Metro Vancouver this fall, its fifth in the Lower Mainland. The company announced plans to set up shop in Willowbrook Shopping Centre in Langley before the end of the year.
Nexii announces relaunch after bankruptcy
After a dramatic fall from green building material unicorn to a bankruptcy court, Squamish, B.C.-based Nexii Building Solutions Inc. will be restarting the business with an $8-million investment from U.S.-based 3 Gates.
Ottawa falling short of its 2024 housing starts goal
More than halfway through 2024, Ottawa is falling significantly short of its housing starts goal. As of June, Ottawa has only built 1,593 homes out of its target goal of 12,583 homes, according to data available from the Ontario government.
B.C. companies try to adapt to vacation rental restrictions
When B.C. said in October that it was going to bring in some of the toughest restrictions on short-term vacation rentals in North America, the owners of a prominent Okanagan resort complex had a moment of panic.
60-unit net-zero residential bldg. nears completion in N.S.
Peter Polley is pretty proud of his company’s latest apartment building that will complete Woodman’s Grove in Wolfville. The four-storey, 104,000-square-foot building will house 60 units of different sizes. Its football field-sized roof has room for 1,000 solar panels.
Hypercharge delivers 200 EV chargers to Surrey development
Hypercharge Networks Corp., a Vancouver-headquartered electric vehicle (EV) charger solutions company, has delivered over a quarter of the charging stations planned for the King George Hub development in Surrey, B.C.
Seniors' housing gets $4.25M federal boost
One of Vancouver Island’s earliest below-market-price housing communities for seniors is getting a $4.25-million boost from the federal government. The money will go toward a four-storey 55+ housing complex at 3700 Cedar Hill Rd. called the Woodlands.
Cabot golf portfolio adds resort in Bordeaux, France
The portfolio of golf courses and resorts that began in Inverness, N.S. has made another expansion, this time into France. The Cabot Collection, run by Ben Cowan-Dewar, has purchased Golf Du Médoc Resort, which comprises 400 acres in Bordeaux.
Blackstone reportedly in talks to acquire $2B retail REIT
The world’s largest alternative asset manager is in early talks to acquire a retail REIT with 95 community shopping centres along the West Coast. Blackstone is eyeing an acquisition of San Diego-based Retail Opportunity Investments Corp., Reuters reported.
Ares has $34 billion for U.S. senior direct lending strategy
Ares Management Corporation, a global alternative investment manager, announced the final closing of Ares Senior Direct Lending Fund III. With equity commitments of approximately $15.3 billion, SDL III was oversubscribed from its $10B initial target.
Stronger East Coast markets drive office leasing activity for BXP
East Coast office markets that have struggled with high vacancy and rising financial distress since the onset of the pandemic are now seeing a surge of leasing activity, the largest office REIT in the U.S. says.
Japan real estate shares slump most since 2020
Japan’s real estate shares tumbled the most since March 2020 on concern mortgage rates will increase after the nation’s central bank raised its benchmark interest rate. Real estate stocks on the Topix index sank as much as 6.4 per cent.
Industry Events
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Quebec City Real Estate Forum
Oct 16 2024
Quebec City Convention Centre
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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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