EMBLEM develops pipeline of 4,500 Ontario multifamily units

RENX  Residential  •  Apartments, Condominiums  •  Ontario, Toronto / GTA

Kash Pashootan had about 20 years of experience in managing the assets of high-net-worth families, and almost 10 in development, before electing to blend that experience and his passion for design by launching EMBLEM Developments in 2018.

Canadian Tire acquires 25% interest in Ashcroft Terminal

Commercial  •  Canada Newswire  •  Welland Tribune  •  Canada Newswire

Canadian Tire Corporation ( CTC-A-T) is acquiring a 25 per cent equity interest in Ashcroft Terminal Limited, B.C.’s largest inland port located approximately 300 kilometres east of Vancouver. PSA International will continue as the operator and retain a majority interest of 60 per cent.

Concord Adex proposes Under Gardiner mall

Commercial  •  Daily Hive

Concord Adex recently filed plans with the City of Toronto to construct a four-building Under Gardiner mall in the area below the expressway on the west side of Dan Leckie Way. The four two-storey buildings would total nearly 60,000 square feet.

Blackstone, Selection JV on 13 Quebec seniors homes

RENX  Residential  •  Seniors Housing  •  Quebec, Greater Montreal

Blackstone Real Estate Group (BX-N) has created a joint venture with Selection Group to acquire a portfolio of 13 seniors’ housing residences in Quebec containing 3,548 independent-living units.

Alterra, Diamond propose 40-storey mixed-use

Residential, Commercial  •  Urban Toronto

Alterra Group of Companies and Diamond Corp. propose a 40-storey, 449-foot Sweeny &Co Architects-designed mixed-use building at 231 Richmond St. E. in downtown Toronto. The 516 residential suites would include 310 one-bedroom, 153 two-bedroom and 53 three-bedroom units.

Jennings proposes 139-unit Ottawa apt. building

Residential  •  Ottawa Business Journal

Jennings Real Estate – which made headlines last month when it bought the 12-storey Gillin Building at 141 Laurier Ave. W. – has filed an application with the City of Ottawa for a 10-storey, 139-unit apartment building at 18 Louisa St.

Value: Weighed and Measured › Housing unaffordability in Canada calls for flexibility

John Clark: AACI, FRICS | Vice President, The Regional Group of Companies Inc.

Hiram Walker Windsor plant to use Bullfrog’s green gas

Commercial  •  Sustainable Biz Canada

Green power and energy provider Bullfrog will provide the Hiram Walker and Sons Ltd. distillery in Windsor with green natural gas. The contract covers 20 per cent of the natural gas needs of the 160-year-old distillery which covers four city blocks.

Navigating the shifting demand for office, retail space

Commercial  •  Ottawa Business Journal

With many offices and storefronts operating at reduced capacity, some Ottawa companies say they plan to shrink their CRE footprint over the next five years. However, nearly the same proportion plan to grow their physical footprint.

Free drive-in movies drive interest in SmartVMC

Residential, Commercial  •  Globe and Mail  •  RENX

To create an attractive destination in advance of SmartVMC, a 100-acre planned city centre site with four mixed-use buildings and a nine-acre park in Vaughan, SmartCentres REIT launched a summer series of free drive-in movies through September at ArtWalk.

REIT second-quarter financial results

Residential, Commercial  • 

Automotive Properties REIT, (APR-UN-T), Canada Newswire
Granite REIT, (GRT-UN-T), Business Wire
Inovalis REIT, (INO-UN-T), Business Wire
Nexus REIT, (NXR-UN-X), Globe Newswire
PROREIT, (PRV-UN-T), Canada Newswire
SmartCentres REIT, (SRU-UN-T), Globe Newswire
WPT Industrial REIT, (WIR-U-T), Globe Newswire

REOC second-quarter financial results

Residential, Commercial  • 

Brookfield Asset Management, (BAM-A-T), Globe Newswire
Fiera Capital Corp., (FSZ-T), Canada Newswire
Invesque Inc., (IVQ-U-T), Canada Newswire
Sienna Senior Living Inc., (SIA-T), Globe Newswire
Tricon Residential, (TCN-T), Canada Newswire

Canada world’s 7th-largest real estate investor: MSCI

Residential, Commercial  •  REMI Network  •  Globest.com

MSCI pegged Canada’s professionally managed real estate held for investment purposes at nearly $546 billion in 2020, representing a $3.6 billion year-over-year gain in market size and making it seventh-largest among the 33 countries the Global Property Index producer monitors.

Amazon plans to build six fulfillment facilities in Florida

Commercial  •  Toronto Star  •  CBC

Amazon (AMZN-Q) announced plans for a new 630,000-square-foot robotics fulfillment centre in Tallahassee, Fla., as part of a plan to build six new facilities in the state to expand its delivery and supply chain.

CPP consortium increases offer for U.K. grocer

Commercial  •  Canadian Grocer  •  Globe Newswire

CPP Investments, Koch Real Estate Investments and U.S. private equity firm Fortress have increased their offer to buy Morrisons, Britain’s fourth-largest supermarket chain in an attempt to deal a knockout blow to a rival bidder. The new offer is $11.6 billion.

HBC splitting stores from online marketplace

Commercial  •  Toronto Star  •  Business Wire

Hudson’s Bay Co. says it is separating its department stores from its online marketplace, creating two separate businesses and distinct leadership structures. Its e-commerce business will operate as The Bay, while its 86 brick-and-mortar stores will operate as Hudson’s Bay.

Builder faces charges, allegedly sold homes without licence

Residential  •  Globe and Mail (Sub. required)

Toronto-area real estate developer Ideal (BC) Developments is facing 10 charges of selling homes without a licence. The charges filed by Ontario’s Home Construction Regulatory Authority (HCRA), include an additional 11th charge of failing to produce evidence described in a warrant.

Halifax building purpose-built rental housing at record pace

Residential  •  Financial Post

Over the past two decades, rental housing starts accounted for under 10 per cent of the construction in Toronto and Ottawa. Halifax, where rental housing construction accounts for more than half of the new housing being built, has defied this trend.

The great real estate cool-down has come

Residential  •  National Post

During the first week of August, a home seller in Hamilton received a purchase offer amounting to $100,000 above the asking price. However, the homeowner rejected the bid, convinced a better one was just around the corner. It wasn’t.

B.C. to allow new secondary homes on farmland

Residential  •  Daily Hive

The provincial government has reversed course on some of its previous policies to crack down on the growing size of residential properties on farmland designated as part of the agricultural land reserve (ALR).