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Global Property Market offers insider views on European CRE
Global Property Market offers insider views on European CRE
There was a lot to discuss during a panel exploring European commercial real estate investment at the Global Property Market conference in Toronto, including higher inflation and interest rates, the Ukraine-Russia war and other geopolitical concerns.
Brookfield CEO eyes properties overloaded with debt
CEO Bruce Flatt has his eye on ways for Brookfield Asset Management Ltd. (BAM-T) to scoop up premium properties that other owners loaded with too much debt. Flatt said his firm has “too much money” to seek buildings needing redevelopment.
GEC sells 11-storey Granville hotel for $70M
In what Avison Young calls the largest hotel sale in Vancouver since 2017, Global Education Communities Corporation's GEC Granville at 718 Drake St. has sold for nearly $70M and has been rebranded as Grand Park Hotel & Suites Downtown Vancouver.
Fitzrovia expands in Montreal, acquires new apartment tower
Fitzrovia Real Estate has made its first new Montreal acquisition with an off-market deal with Brivia Group for the 19-storey, 178-unit Stanbrooke apartment building at 2061 Stanley St., just south of Sherbrooke Street West.
Kitchener condo tower may soon be put up for sale
Kitchener developers Werner Leuschner and Kamal Patel owed more than $100 million but had less than $300 in their bank account when they lost control of Elevate, their unfinished, 15-storey condominium tower in Kitchener.
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Retail real estate to remain on good footing in 2024: Colliers
Vacancy rates at retail spaces in strip malls, neighbourhood centres and big box stores are set to decline one to two per cent over the next two years, according to Colliers Canada's Open-Air Retail: Weathering Economic Headwinds report.
Downtown Kelowna retail, office space nearly fully leased
Retail and office space is at a premium in downtown Kelowna. The 3,500-square-foot Arc’teryx store to open next summer at the corner of Water Street and Bernard Avenue was one of the last large spaces still up for grabs.
Cities leery of tall buildings blocking the sun
The new buildings were just what Toronto needed. More than 800 new rental apartments, about a third of them permanently affordable. These new homes would rise on the site of an old provincial building. The problem: They were too tall.
Toronto the Good is now Toronto the Gridlocked
Giles Gherson had 20 minutes to get from his office on the Toronto waterfront to a restaurant at Yonge and Dundas for a lunch meeting. Ample time, in other words, or so the chief executive of the Toronto Region Board of Trade assumed as he settled into the back of an Uber for the short trip.
High demand for construction in 2024: JLL
Canada’s construction industry will face strong demand, modest cost growth, stable prices and continued labour shortages in 2024, according to JLL. The U.S. and Canada Construction Trends 2024 report details a positive outlook for the industry in both countries.
Third BDC Square opens in Vancouver
BDC, Canada's bank for entrepreneurs, is opening its third BDC Square, a collaborative space for entrepreneurs in The Stack, a zero-carbon high-rise in the centre of Vancouver's business district. Similar spaces are located in Montreal and Toronto.
Reznick proposes 11-storey condo building
Jordan Reznick of Reznick Events Carpets has proposed a 11-storey condo building at 171 through 175 Lowther Ave. in The Annex neighbourhood in Toronto. The Gabriel Fain Architects-designed building would include 64 residential units.
Ontario investigates a fraction of rental housing cases
After being renovicted from her home of nearly 20 years, Darlene Wesley says she doesn't care how long it takes, she wants Ontario's rental housing enforcement officers to investigate and fine her former landlord.
MetLife downplays concerns over CRE holdings
MetLife Inc., the largest U.S. life insurer, downplayed concerns about the faltering U.S. CRE market amid signs occupancy is starting to recover. MetLife is seeing employers “start to revert back to some level of in-office,” CFO John McCallion said Tuesday.
Blackstone to make more bank-asset deals
Blackstone (BX-N) is embracing its new role as a capital provider to Wall Street after sealing a half-dozen deals with banks involving about $7 billion worth of assets. President Jon Gray expects the deals to lighten bank balance sheets.
How U.S. sports teams became real estate speculators
Pitching his vision of shifting the St Louis Rams to an ultra-modern stadium anchoring a massive land redevelopment near Los Angeles international airport, Stan Kroenke told his fellow NFL owners: “This is what we do”.
Yellow's trucking terminals sell to multiple buyers for $1.9B
As the saga of Yellow's bankruptcy nears a close, its auction of assets has netted $1.9B for 130 owned properties so far. The largest bid was XPO's $870M offer for 28 properties, including two that are leased.
Ares Management raises $3.3B of secondaries capital
Ares Management completed $3.3 billion in fundraising for its Landmark Real Estate Fund IX and associated vehicles, which will buy stakes in other private, generally less liquid real estate investment funds.
U.S. REITs narrow gap between share price, NAV
Publicly listed U.S. REIT stocks traded at a median 20.2% discount to their net asset values at the end of November, S&P Global Market Intelligence reported, an improvement from a 28.4% discount in October. The monitor tracks 129 REITs.
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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