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Calgary's CRE investment market 'remarkably' strong: Barclay Street
Calgary's CRE investment market 'remarkably' strong
Investment activity in Calgary's commercial real estate market was “remarkably” strong through the first half of this year - the third-highest period on record going back to 2013, according to a new report by Barclay Street Real Estate.
Tribe rebrands its new property management division, DMS
Tribe Property Technologies (TRBE-X) has announced a rebrand for its newly acquired property management subsidiary, consolidating its operations under the name DMS and creating a new logo for the division.
Company lockouts shut down Canada's 2 major railways
Bargaining between workers and the two largest railways is set to resume after breaking off shortly before midnight — a deadline that left workers locked out by Canadian National Railway and Canadian Pacific Kansas City in their first simultaneous work stoppage.
City backs 3-tower, 722-unit downtown Burlington project
Burlington City Council has supported the development of two to three mixed-use residential buildings at 1393 Graham’s Lane during a special meeting of council. Developer North Stone Capital Partners is proposing adding 722 dwelling units at the downtown site.
Calgary industrial market tightens as demand for land rises
Stabilizing demand and lower volume of industrial construction are narrowing the price gap for serviced and unserviced industrial land around Calgary. Serviced industrial land is trading at approximately $650,000 an acre and unserviced industrial land is approaching $600,000.
Saskatoon pitches funding plan for $1.22B arena district
Saskatoon council will have a major decision to discuss at its upcoming council meeting: whether to agree to city administration's proposed funding plan for a new downtown 15,900-seat arena and the associated entertainment district.
Equiton Apartment Fund passes $1B AUM mark
Equiton's flagship real estate fund has exceeded $1 billion in assets under management (AUM). The fund's latest acquisition of four mid-rise rental properties in Welland, Ont., - announced in June - increased its AUM to $1.06 billion.
Energy storage becomes a planning consideration
Energy storage gets new prominence in the update of Ontario’s rules for land use planning. The 2024 iteration of the provincial planning statement, taking effect October 20, explicitly lists energy storage systems among the options municipalities are expected to consider.
Loblaw pilots ultra-discount grocery stores in Ontario
Loblaw (L-T) is piloting an ultra-discount grocery store in Ontario that promises to deliver even lower prices by stripping away even more frills. The first three No Name stores will open in September in Windsor, St. Catharines and Brockville.
Pusateri’s Fine Foods: grocer owes creditors $37 million
Italian boutique grocer Pusateri’s announced closure of several stores on Friday and the filing of bankruptcy proceedings. The company owes creditors more than $37 million, according to notices published by Albert Gelman Inc.
Retail rental rates rise amid high demand and race for space
Market conditions continue to push Canadian retail rental rates up across the board and no single format type is being left behind amid insatiable demand and a race for space, according to a report by real estate firm CBRE.
B.C. multifamily investment activity expected to increase
As inflation trends downward and interest rates continue to decrease over the second half of the year, multifamily investment activity is expected to increase in Vancouver and Victoria, according to CBRE’s 2024 Mid-Year Apartment Report.
Kingston approves zoning for 25-storey downtown tower
City council approved a zoning bylaw amendment for a proposed 25-storey residential building in the downtown core. IN8 Developments Inc. and Fotenn Consultants proposed to build on the property, which currently houses a Goodlife Fitness centre.
New Winnipeg apartment block Bridgwater opens doors
Affordable housing is a hit in the Winnipeg suburbs. In a few days, swarms of people will haul suitcases and boxes into Paragon Living's 143 new apartments at the Bridgwater.
Neighbours clash over density restrictions in Coquitlam
Density-restricting covenants attached to the land titles of more than 60 lots in a Coquitlam subdivision are pitting neighbours against one another. Some want the decades-old restrictions dissolved to allow for multi-unit developments, while others want to retain the neighbourhood’s character.
Woodstock council backs plan for 8-storey res building
Woodstock City Council has supported an application to allow an eight-storey, 36-unit residential building to be built where the Capitol Theatre once stood on Dundas Street. The decision was made by unanimous vote.
Office losses slow at $80B Brookfield real estate unit
The division of Brookfield that owns its real estate assets saw net operating income increase despite a bump in valuation losses. Brookfield Property Partners showed a slowdown in the value decline of the firm’s $19.4B office portfolio in Q2.
Goldman Sachs RE head: U.S. markets ‘now bottoming out’
The goal of Goldman Sachs Asset Management over the past few years has been offloading as many real estate assets as possible, but now it is diving back into the equity markets — this time using its real estate funds.
Christie’s renews 400,000 sq. ft. lease in Rockefeller Plaza
Auction house Christie’s has inked a 25-year lease renewal at 20 Rockefeller Plaza for office space, salerooms, public galleries and warehouses in the famed Midtown Manhattan office and retail city-within-the-city. Christie’s U.S. headquarters occupies about 400,000 square feet.
Office demand rises in Europe, boosted by banks and insurers
European office space take-up rose nine per cent in Q2 from a year earlier, partly driven by the finance and insurance sectors and the enforcement of return-to-work mandates. Finance firms took the highest share of leasing activity.
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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