Dream Industrial sells 75% stake in $602M U.S. portfolio

RENX  Commercial  •  Industrial  •  International

Dream Industrial REIT (DIR-UN-T) will sell a 75 per cent interest in 20 U.S. industrial properties to a U.S. industrial fund in a transaction which values the portfolio at $602 million. Dream will retain 25 per cent interest in the properties.

Bosa switches Calgary tower from condos to rentals

RENX  Residential, Commercial  •  Retail, Apartments  •  Calgary

A unique high-rise rental tower in Calgary’s East Village was 25 per cent leased before a marketing campaign for sales even began, illustrating what its developer says is the demand in the market for purpose-built rental homes.

Markham developer has more cancellations than builds

Residential  •  Toronto Star

Over the last 10 years, Markham’s Ideal Developments has sold more than 600 pre-construction condo units or townhouses across the GTA that have ended up cancelled — more than the company has built. Now it  is promoting three new pre-construction developments.

Greybrook, Tribute propose 35-storey condo tower

Residential  •  Urban Toronto

Tribute Communities and Greybrook Realty Partners have proposed a 35-storey condo tower on a five-property assembly in Toronto’s Yorkville area they recently purchased for $84 million. The Chris Dikeakos Architects /CGL Architects-designed building would include 355 units: 166 one-bedrooms, 154 two-bedroom and 35 three-bedrooms.

Cape Group plans new East Vancouver rentals

Residential  •  urbanYVR

The Cape Group is planning more east Vancouver rentals, submitting a development permit for a six-storey rental building at Nanaimo and Charles streets, in the Grandview-Woodland neighbourhood. The development, designed by Human Studio Architecture and Urban Design Ltd., will include 67 market rental units and ground-floor retail.

Port Moody’s 2,000-unit project faces concerns at council

Residential  •  Globe and Mail  •  Vancouver Sun

The 2,000-unit Woodland Park project in Port Moody, B.C., would increase the social-housing supply by more than 50 per cent and represent one of the biggest such investments the provincial government has made outside of Vancouver, but council has density concerns.

Value: Weighed and Measured › Are we headed for a housing crash? Unlikely. Boats and RVs, however …

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

Three companies chosen to revitalize Ontario Place

Residential, Commercial  •  Globe and Mail

Three companies, including Quebec outdoor recreation firm Écorécréo and a Austrian spa and water park provider Therme, have been chosen to revitalize Ontario Place after a closed-door bid process. Live Nation will have an expanded role.

Madison Group unveils T.O.’s The Capitol Residences

Residential  •  Canada Newswire

Madison Group Tuesday unveiled details for The Capitol Residences, an iconic tribute to Toronto landmark The Capitol Theatre. In partnership with Westdale Properties, the  Hariri Pontarini Architects & Turner Fleischer Architects-designed 14-storey building will include 147 suites of 535 to 2,165 square feet.

HBC considers options for downtown Winnipeg building

Commercial  •  Business Wire

HBC is exploring options for the Downtown Winnipeg Hudson’s Bay building, and has received interest from a number of stakeholders about the future use of the location.  Built in 1923, it was one of the original six Hudson’s Bay department stores.

Ottawa tech firms returning to KRP office towers

Commercial  •  Ottawa Citizen

Downtown Calgary office vacancy rate hits record 29.2%

Commercial  •  Winnipeg Free Press  •  RENX

Avison Young says downtown Calgary office tower vacancy rate sits at a record 29.2 per cent. That’s up from 28.9 per cent in the first three months of 2021 and up from 25 per cent year-over-year. AY predicts a 30 per cent-plus rate this year.

BGO to add Angers facility to French logistics portfolio

Commercial  •  Property Funds World  •  IPE Real Assets

BentallGreenOak (BGO) is acquiring a site in the Angers region of France for the construction of a new 269,000-square-foot logistics facility. This deal adds to BGO’s $1 billion-plus Cdn worth of logistics asset investments in France since 2017,

Brookfield weighs purchase of Germany’s Alstria Office

Commercial  •  Financial Post  •  Reuters

Brookfield Asset Management Inc. is exploring a takeover of listed German real estate firm Alstria Office REIT-AG, according to people familiar with the matter, as it bets on workers returning to city centres.

SL Green sells 49% interest in N.Y. office tower for $790M

Commercial  •  Globe Newswire

SL Green Realty Corp. (SLG-N) announced it has sold a 49 per cent interest in 37-storey 220 East 42nd Street to a real estate fund managed by Meritz Alternative Investment Management for gross consideration of $790.1 million.

Monmouth board reaffirms support for Equity merger

Commercial  •  Globe Newswire

Monmouth Real Estate Investment Corporation (MNR-N) announced its Board of Directors has reaffirmed its unanimous support for its pending merger with Equity Commonwealth (EQC-N). As previously disclosed, Monmouth received an unsolicited acquisition proposal from Starwood Capital Group.

U.S. multifamily rent growth sets records in June: Yardi

Residential  •  PR Newswire  •  PR Newswire  •  PR Newswire

Multifamily asking rents jumped an average of 6.3% year-over-year in June, the largest leap ever recorded by Yardi Matrix, an industry data tracker. The national average apartment rent increased $23 last month to $1,482, another record, and single-family home rents were up 11% year-over-year.

Brava surrounds historic Calgary home with apt. complex

Residential  •  Calgary Herald

Brava Development is surrounding the late-19th century three-storey Nimmons Residence with its six-storey, 84-unit Nimmons Court apartment complex. The Casola Koppe Architects-designed building will offer one and- two-bedroom apartments ready for occupancy by late spring of 2022.

Housing takes on larger emphasis in inflation tracking

Residential  •  Globe and Mail (Sub. required)  •  Financial Post  •  Reuters

The cost of housing will have a larger influence in how Canada’s main gauge of inflation is tallied, following the home-buying frenzy of the past year and other pandemic-driven shifts in consumption.

Record-breaking sales continue in Quebec

Residential  •  Globe Newswire

In total, 31,899 residential sales transactions were concluded in Q2 in Quebec, a 45 per cent year-over-year increase and a Q2 sales record, according to Quebec Professional Association of Real Estate Brokers statistics based on its Centris provincial database.