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KingSett to transform Scotia Plaza's 68th storey into events space
KingSett to turn Scotia Plaza's 68th floor into events space
KingSett Capital will invest “a few million dollars” to create a 20,000-square-foot meeting and event space and tenant amenity area atop Scotia Plaza in downtown Toronto. The 68th-floor event space is set to open by next June.
Smaller B.C. communities grow up as big devs. come to town
Ladner, a small Lower Mainland town set within the larger, fast-growing municipality of Delta, is starting to get a taste of higher density development more common among its neighbours.
 | Real Estate with Howard Drukarsh In conversation with: Knightsbridge CEO Will SmithHoward DrukarshHost, Real Estate with Howard Drukarsh |
B.C. residential building permit issuances reach $2.1B value
B.C. building permits skyrocketed in April, suggesting we’ll see a jump-start to construction in coming months. Building permit values leapt by 81.1 per cent to reach a seasonally adjusted $3.1 billion, exceeding the previous high set a year ago.
Anthem exploring office-to-hotel switch for 66-storey tower
Amidst a market experiencing both an uncertainty around offices and a well-documented shortage of hotels, Anthem Properties is now seeking to modify its plans for the Citizen tower it has planned for the Metrotown neighbourhood of Burnaby.
 | Colliers Canada Trailblazing Canada’s industrial buildings of the futureThe team behind KingJane Business Park is working on an immense industrial development with next-generation design technology for the growing number of tenants and users that must have scale, convenient access, top-shelf amenities, flexibility and a certified zero-carbon footprint. Sponsored by: Colliers Canada |
Alimentation Couche-Tard eyes potential M&A targets
Canada’s largest convenience store chain may soon grow again. Alimentation Couche-Tard Inc. said Wednesday it has several potential acquisitions on its radar. The potential deals span both Europe and North America and range in size.
Pension fund BCI reports a 7.5-per-cent return, hunts for deals
Flush with cash, British Columbia Investment Management Corp. (BCI) is on the hunt for bargains. It hopes to take advantage as higher interest rates bite and sellers need to unload some assets at cut-rate prices.
PROREIT completes sale of three properties for $13.5 million
PRO Real Estate Investment Trust (PRV.UN-T) has completed the sale of three properties, totalling approximately 57,500 square feet, for total gross proceeds of $13.5 million. PROREIT also announced $9.8 million debt refinancing on two industrial properties.
'Generational project' planned for Stelco lands in Hamilton
Purchased by developer Slate Asset Management in 2022, the site is set to be revamped over the next decade into a mix of industrial, commercial and public–use waterfront — a "huge, generational project".
Jump in new condos in P.E.I. largely driven by CAPREIT
In the past year, P.E.I. has seen a surge in new condominiums, driven partly by new construction and partly by a trend of rental property owners converting long-term rental buildings into condominiums.
West Fraser Dev. proposing 2 high-rises near Surrey city hall
Surrey City Council is considering a rezoning application for two high-rise residential towers, at a site near Surrey City Hall. West Fraser Developments is seeking permission for a 25-storey and 35-storey residential tower atop six-storey podiums
Canada's major cities tumble on Global Liveability Index
Some of the world’s most liveable cities in Australia and Canada are slipping down the rankings due to acute housing shortages, an issue that governments are struggling to remedy. Vancouver and Toronto fell to seventh and 12th place, respectively.
B.C. court refuses to discharge Greg Martel from bankruptcy
Disgraced mortgage broker Greg Martel will not be released from debts that have been mounting around him. The B.C. Supreme Court adjourned Martel’s bankruptcy discharge hearing, meaning he will remain an “undischarged bankrupt” with debts topping $300 million.
Developer Westbank sued for allegedly not paying bill
One of Vancouver's largest developers is being sued in B.C. Supreme Court for allegedly not paying a C$889,723 bill for printed marketing materials, or C$311,504 in interest that has racked up on that bill.
Less than 1% of vacant rentals affordable for average Cdns.
As demand for rentals outpaces supply, a CBC News analysis of over 1,000 neighbourhoods in Canada's largest cities found less than one per cent of rentals are both vacant and affordable for most renters.
Empty offices risk wiping out $250 billion in commercial property value
Nearly one-quarter of all U.S. office space will be vacant by 2026 as working from home persists, slicing commercial property values by as much as $250 billion US, Moody's reports. Office vacancy rates are expected to rise.
Bulk of tenant activity in U.S. office space in 8% of buildings
Only eight per cent of office buildings are thriving, while most of the market has been struggling since the onset of the pandemic. A CBRE analysis of 57 U.S. office markets found only a sliver of properties are attracting tenants.
Global Net Lease sells Americold portfolio for $170M
Global Net Lease sold a portfolio of nine cold-storage properties leased to subsidiaries of Americold Realty Trust for $170 million US. That represents a 7.88 per cent cash cap rate on 3.3 years of weighted average remaining lease term.
Difficulties ahead for U.S. multifamily sector
The multifamily sector continues to be strong in 2024 but challenges are present, according to the Matrix Multifamily National Report for summer 2024. While demand remains steady, factors like rising supply and financing difficulties are creating headwinds.
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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